NELFUND (Nigerian Education Loan Fund) is the Federal Government’s interest-free student loan scheme that helps Nigerian students in public tertiary institutions cover institutional charges (tuition/fees paid directly to the school) and optional monthly upkeep allowances paid into the student’s bank account.
Key Benefits
– Completely interest-free.
– No guarantor required.
– Covers institutional charges (paid straight to the school) + optional upkeep.
– Flexible repayment: starts 2 years after NYSC completion (or exemption), and only when the beneficiary is employed or self-employed. Repayment is typically 10% of monthly income/profit deducted at source. No job = no repayment (with periodic notification requirements).
– Fully online and digitised process.
Who Is Eligible to Apply Click Here
How to Apply (Step-by-Step Guide) Click Here
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