How to Check Shortlisted Candidate for Fed. Student Loan | If you had applied for Federal Governments Student Loan program, Check your name now and proceed to next step before is too late. The Student Loan initiative set up by the Federal Government of Nigeria, is a beacon of hope for Nigerian students pursuing higher education.
The Student Loan initiative is a program established by the Federal Government of Nigeria to break financial barriers in higher education. Apply here
Simple Steps to Secure Your Student Loan
- Step 1: Register on the Student Loan Application Platform by clicking the “APPLY NOW” button to get started
- Step 2: Click on the “Request for Student Loan” button and complete the loan application steps and submit.
- Step 3: our application will be reviewed. After successful verification, payments will be made to your institution for institutional charge, while the upkeep loan will be paid to the bank account you have provided in your profile
Frequently Asked Questions
Under what circumstances would NELFUND deny an application?
- if such an applicant is: Proven to have defaulted in respect of any previous loan granted by any license financial institution; Found guilty of submitting fake/fraudulent documents and dismissed for exam malpractices by any school authority; and Convicted of fraud and forgery, drug offences, cultism, felony, or any offences involving dishonesty;
Are there any documents to upload during the application process?
- Yes. Scanned admission letter for new students (compulsory), scanned Student Identification Card (optional).
Is there any appeal process when an application is denied?
- A complaint can be raised from the portal, or you can send an email to the NELFUND
What are the consequences of defaulting on the loan?
- Deliberate default could result in penalties, legal action, and potential damage to your credit score.
Types of Beneficiaries
NELFUND identifies two types of beneficiaries:
- Institutions: Payments will be made to institutions on behalf of the students who have successfully applied.
- Students: Successful applicants will receive a monthly stipend to support their educational needs.
Importance of the Loan Fund
Sawyerr emphasized that this program aims to improve Nigeria’s leadership and socio-economic situation by providing financial support to students. He stated that about 110,000 students are expected to begin receiving disbursements from next week, pending further verification to ensure they qualify for the loans.
Application Requirements
Applicants must meet several criteria, including having:
- Joint Admissions and Matriculation Board (JAMB) numbers
- Matriculation numbers
- Bank Verification Numbers (BVN)
- National Identification Numbers (NIN)
Fund Availability
NELFUND has around N35 billion ready for disbursement, with more funding on the way. The fund is supported by 1% of Federal Inland Revenue Service taxes and other sources.
For more details and updates, visit the NELFUND official portal.
This initiative represents a significant investment in the future of Nigerian students, ensuring they have the financial support needed to pursue their educational dreams.
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