The Nigerian Education Loan Fund (NELFUND) has released guidelines for the implementation of the federal student loan scheme in public universities, polytechnics, and colleges of education.
Applicants must be Nigerian citizens with valid admission and provide NIN, BVN, and JAMB details through the NELFUND portal. Loans will be paid directly to institutions for tuition, with optional upkeep allowances to students. Repayment begins two years after NYSC or exemption, with 10% of income deducted monthly.
Institutions must verify applications within 20 working days, refund where necessary, and comply with reporting rules or risk suspension. NELFUND also pledged fairness, equity, and data protection.
Managing Director Akintunde Sawyerr said the scheme aims to remove financial barriers and expand access to higher education.
Further details are available on www.nelf.gov.ng and NELFUND’s official social media channels.
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