*FGN: Guide On How To Apply For A Student Loan In Nigeria*
The students of Federal Government-Owned Tertiary Institutions are the first set of beneficiaries of the student loan scheme.
According to Akintunde Sawyerr, the chief executive officer of Nigerian Education Loan Fund (NELFUND), disclosed this on Monday, May 20th, while unfolding the conditions that potential beneficiaries are expect to meet.
It was reported that President Ahmed Tinubu signed into law, on 3rd April, the bill on the scheme in line with his electoral promise that no Nigerian student would drop out of school on account of paucity of funds.
The process of applying for a student loan can be a daunting task, especially with the numerous forms and requirements involved.
Meanwhile, if potential applicants are properly and adequately guide, the process can be a smooth and straightforward one.
In this write up, we will explore the step-by-step process of applying for a student loan, specifically through the NELFUND platform.
Hereunder details how to apply for a student loan in Nigeria
1. The first step in applying for a student loan through NELFUND is to log into the loan application portal on the NELFUND website (www.nelf.gov.ng).
2. Once on the website, navigate to the student loan portal and create an account or log in if you already have an existing account. Creating an account is essential as it allows you to save your progress and access your application at any time.
3. Once you have logged into the portal, you will be required to provide certain documents to complete your application. These documents typically include:
•Joint Admissions and Matriculation Board (JAMB) admission letter,
•National Identification Number (NIN),
•Bank Verification Number (BVN).
The aforementioned documents are required to verify your identity, academic status, and financial need, which are crucial factors in determining your eligibility for a student loan.
4. Once all the necessary documents have been gathering, you can proceed to fill out the loan application form. The form will require you to provide personal details such as your name, contact information, and date of birth, as well as academic information like your course of study, institution, and level of study. Additionally, you will need to provide details about your financial need, including information about your income, expenses, and any other sources of funding you may have.
5. After completing the application form, it is essential to review it thoroughly before submitting it. Check for any errors or missing information and make sure all the required documents are attached. Once you are satisfied with your application, you can submit it through the portal.
6. After submitting your application, you will receive a confirmation email from NELFUND with further instructions. This email may contain details about the next steps in the application process, such as providing additional documentation or attending an interview.
It is very important that these instructions strictly and promptly followed to ensure that your application is processed efficiently.
