What is NELFUND?

The Nigerian Education Loan Fund (NELFUND) is a government-backed initiative that provides financial aid to students in tertiary institutions across the country. The program aims to bridge the funding gap for students who cannot afford tuition and living expenses.

2025 Application Update

The application window for the 2024/2025 academic year opened on February 22, 2025, immediately after the closure of the previous cycle on February 21, 2025. Students enrolled in over 150 participating institutions are eligible to apply.

Key Features of the NELFUND Student Loan

Institutional Fee Coverage:
Over ₦22.7 billion has been disbursed to cover tuition and institutional fees for 215,514 students across the country.
Upkeep Support:
An additional ₦12.8 billion has been distributed as monthly upkeep support to 169,114 students, each receiving ₦20,000 to assist with day-to-day living expenses.
Direct Disbursement:
Tuition fees are paid directly to institutions, while upkeep allowances go to students’ accounts monthly.

Who is Eligible?

To qualify for NELFUND, applicants must:

Be enrolled in a recognized Nigerian tertiary institution.
Have their school upload their verified details to the NELFUND portal.
Not have an existing unpaid loan from any financial institution.
Have a clean academic and legal record (no exam malpractice, fraud, or dishonesty).
Provide authentic and verifiable documentation.

Also Read: How to Get a Startup Business Loan With no Money in Nigeria

How to Apply

Visit the official NELFUND website (check for updates).
Create a student profile.
Upload admission and institutional documents.
Verify your student status through your institution.
Submit your loan request for tuition and upkeep support.

Repayment Structure

Repayment is designed to begin two years after NYSC completion, ensuring that students have time to enter the workforce before paying back the loan.

Repayment Method:
10% of monthly salary for employed beneficiaries.
10% of monthly profit for self-employed individuals.
Penalty for Default:
₦500,000 fine or
Two years imprisonment, or both.

Final Thoughts

NELFUND in 2025 is playing a crucial role in removing financial barriers to education in Nigeria. With streamlined applications, monthly upkeep support, and fair repayment terms, it provides a lifeline for students in need. As the fund continues to expand, students and institutions must stay informed and proactive to maximize the benefits of this opportunity.

Tip: Always apply early and ensure your institution has uploaded your data to the NELFUND portal to avoid delays.