Follow these step-by-step procedures for NELFUND Student Loan Disbursement. Below is a detailed outline of the step-by-step procedures for the NELFUND Student Loan Disbursement application that each student, the INSTITUTIONS, and the STUDENTS must go through to receive a monthly upkeep stipend.
Table of Contents
Data Submission
The Institution is responsible for providing NELFUND with full, accurate, and complete data for all its students, for upload onto the NELFUND SVS. This includes information such as Matriculation number, JAMB details, course of study, academic level, and the institution’s fees.
Inform Student Applications about readiness
Both NELFUND and the institutions inform students of their eligibility to apply for student loans through awareness campaigns and direct communication.
Student Loan Application
Students act on their interest by making loan applications through the NELFUND portal providing basic details such as JAMB number, NIN, BVN, and Matriculation number.
Application Processing by NELFUND
Upon receipt of a student application, NELFUND processes each by verifying the details provided and approving those that meet the criteria.
Approval Notification to Institutions
NELFUND compiles a list of approved student loans and sends the list to the respective institutions for further verification.
Institutional Verification
The institutions review the list, confirming the authenticity and accuracy of the student information and loan approvals. The verified list is signed off by the institution’s authority and returned to NELFUND.
Disbursement of Institutional Fees
Upon receiving the verified/signed-off list from the institutions, NELFUND disburses the approved institutional fees directly to the institutions on behalf of the students.
This coordinated process ensures that student loans are managed effectively, with each party fulfilling their responsibilities to support students accessing higher education.
Did You Know
House of Representatives Reaffirms Commitment to Success of NELFUND Student Loans Scheme
NELFUND Continues Student Loan Disbursements to Tertiary Institutions
List of Approved State-owned Tertiary Institutions for NELFUND Student Loan
