NELFUND: Everything You Need to Know About Nigeria’s Student Loan Program
Education remains one of the most powerful tools for personal and national development. However, for many Nigerian students, the rising cost of tuition and living expenses has made higher education increasingly difficult to afford. To address this challenge, the Federal Government introduced the Nigerian Education Loan Fund (NELFUND) — a bold initiative designed to remove financial barriers and expand access to tertiary education. This guide explains what NELFUND is, how it works, who qualifies, repayment terms, benefits, and frequently asked questions. Table of Contents What Is NELFUND? Why NELFUND Was Created What Does NELFUND Cover? Who Is Eligible? How to Apply for NELFUND Repayment Terms Impact So Far Challenges and Public Concerns Frequently Asked Questions (FAQs) Conclusion What Is NELFUND? The Nigerian Education Loan Fund (NELFUND) is a federal government initiative established under the Student Loans (Access to Higher Education) (Repeal and...