Education is not just a right, it’s a powerful tool that transforms lives and shapes the future of a nation. For many Nigerian students, the rising cost of tertiary education has become a barrier. That’s why the Federal Government’s Nigerian Education Loan Fund (NELFUND) initiative is more than just a policy, it’s a lifeline. This innovative programme opens a new chapter for financially-disadvantaged students across Nigeria, making quality education more accessible without the burden of interest. imagine attending university with the peace of mind that your tuition and upkeep are covered, and repayment only starts after the National Youth Service Corps (NYSC).
Why the student loan scheme?
The scheme is a government-backed initiative aimed at supporting undergraduates in federal and state universities. The programme offers interest-free loans covering tuition and a ₦20,000 monthly upkeep allowance. Unlike traditional loans, this one requires no collateral, no guarantor, and repayment starts only after completing the National Youth Service Corps (NYSC), making it student-friendly.
Key benefits
1. Zero interest: Borrowers are not charged any interest on the loan, making repayment predictable and affordable.
2. ₦20,000 monthly stipend: In addition to tuition, students receive a monthly upkeep allowance to cover essential expenses.
3. No collateral: Applicants do not need to provide any form of collateral or guarantor to qualify.
4. Referred repayment: Repayment begins only after NYSC at 10% of the borrower’s monthly income.
5. Opens to federal and state universities: The programme is not limited to federal institutions, state university students can also benefit.
Why this matters now
The student loan programme comes at a critical time where many families face the burden of education costs that have pushed many students to abandon their academic dreams. This initiative ensures that every willing and qualified Nigerian youth can pursue higher education without financial fear.

How to apply for the student loan
The application process is simple and fully digital. Applicants can log on to the official portal, fill in their details, upload necessary documentation, and await approval.
The bigger picture
This initiative not only empowers students, but also contributes to Nigeria’s long-term goals of improving literacy, promoting youth development, and boosting economic participation. By investing in education, the government is laying the groundwork for a more prosperous and inclusive future.
Why you should apply now
Education is a foundation that no one should be denied. The loan scheme makes it easier for you to get started, stay in school, and build the future you deserve. If you or someone you know meets the eligibility, don’t wait. take the first step toward financial freedom and academic success.
How to apply
Visit the official portal: https://nelf.gov.ng/, to begin your application.