Step-by-Step Guide to Apply for Student Loan in Nigeria

Introduction

The Nigerian government has introduced a student loan program to assist students in financing their education. To apply for the loan, students need to create an account and complete their profile on the National Electronic Fund Transfer (NEFT) platform. 

In this article, we will guide you through the process of creating an account, completing your profile, and applying for a student loan.

Creating an Account

Step 1: Visit the NEFT website at (Click Here) copy the link nelf.gov.ng

Step 2: Click on the “Apply Now” button

Step 3: Click on “Get Started”

Step 4: Answer the questions on the page and click “Yes, I am a Nigerian”

Step 5: Verify your educational information by selecting your school and providing your matric number

Step 6: Click “Verify with JAMB” and enter your JAMB details (students whose NIN has not been registered with JAMB will need to enter their NIN for validation)

Step 7: Create an account by entering your email address, password, and confirm password, and click “Create Account”

Step 8: Click the email verification link sent to your email to conclude the account creation process

Completing Your Profile

Step 1: Log in to your account by clicking the “LOGIN” button

Step 2: Enter your email address and password to log in

Step 3: Click on the “Proceed to Contact Details” button

Step 4: Update your contact details with your current phone number, full residential address, state of residence, and local government area of residence, and click “Proceed to Educational Details”

Step 5: Update your educational details by selecting your higher institution and inputting your matric number, then click “Proceed to Account Details”

Step 6: Verify your BVN by entering your BVN, selecting your bank name, and entering your account number, and click “Save Changes” to complete your profile

Loan Application

Step 1: Click on the “Request for Student Loan” button at the top right of the screen on the home or loans page after logging into the application

Step 2: If you want an upkeep loan, click the check box, and click Continue; if all you need is the institutional charge, click the “Continue” button

Step 3: Upload supporting documents (admission letter is compulsory, while student ID and institution invoice are optional), click the checkbox for the policy and declaration, and click “Continue”

Step 4: Read the loan overview and click the check boxes for both the Terms & Conditions and GSI Mandate, then click “Submit Application”

Step 5: Click on the “Loans” button to view the status of your application

Applying for a student loan in Nigeria is a straightforward process that can be completed online. 

By following the steps outlined in this article, students can create an account, complete their profile, and apply for a student loan to finance their education. 

Remember to upload all required documents and carefully read the terms and conditions before submitting your application.