NELFUND Student Loans: Everything You Need to Know for the 2026 Session
The Nigerian Education Loan Fund (NELFUND) is the Federal Government's flagship program designed to ensure that no Nigerian student drops out due to financial constraints. In 2026, the program has expanded to include virtually all public tertiary institutions (Federal and State). If you are looking for a 0% interest student loan, this is your primary option.
Key Features of the NELFUND Loan
Zero Interest: You only pay back the exact amount you borrowed.
Direct Tuition Payment: The "Institutional Charge" is sent directly to your school's account.
Monthly Upkeep: A stipend (currently ₦20,000 per month) is paid directly to your bank account to cover living expenses.
No Guarantor Required: Unlike commercial loans, you do not need a parent or high-earner to sign for you.
Eligibility and Requirements for 2026
To apply on the official nelf.gov.ng portal, you must have:
JAMB Registration Number.
National Identification Number (NIN): Ensure your name on your NIN matches your school records.
Bank Verification Number (BVN).
Admission Letter: From a recognized Public University, Polytechnic, or College of Education.
The Official NELFUND Application Process
How to Apply for NELFUND in 5 Steps
- Account Creation: Visit the Official NELFUND Portal and register with your email and NIN.
- Verification: Provide your JAMB number and Admission details to verify your student status.
- Profile Completion: Enter your bank details (BVN and Account Number) for the upkeep allowance.
- Loan Request: Select "Institutional Charges" (tuition) and "Upkeep" (monthly allowance).
- Submission: Review your details and click submit. Disbursement typically occurs within 30 days of approval.
Debunking the ₦150,000 Upkeep Rumor
A major trending topic in early 2026 is the rumor that NELFUND increased the monthly upkeep to ₦150,000.
The Fact: The NELFUND Beneficiaries Association (NBAN) and official NELFUND channels have debunked this. The monthly upkeep remains at ₦20,000 for now. Always rely on official portal updates to avoid scammers.
Understanding NELFUND Repayment
| Feature | Policy Detail |
|---|---|
| Grace Period | 2 Years after completion of NYSC. |
| Deduction Rate | 10% of monthly salary (once employed). |
| Self-Employed? | Must pay 10% of monthly profit to NELFUND. |
| Interest Rate | 0% (Zero Interest). |
