NELFUND: Invalid Institutional Fees, Login Issue…Here Are The Solutions to Student Loan Application Problems

This post provides solutions to some of the challenges you’re facing in the course of applying and submitting your application for student loan on NELFUND portal.

The Nigerian Education Loan Fund (NELFUND) isn’t something you should mix if you’re an undergraduate who needs education financial aid.

The testimonies some of the applicants have shared with edubase,ng after publishing a guide on the application process has been fantastic. In case you’ve been trying to apply, but you encounter technical glitches, here are the likely application questions and answers:

Login issues

Question: I’m unable to login with the email I used for registration on the NELFUND portal. Anytime I tried, it showed me invalid login details.

Answer: Try to login using another browser and make sure that the first letter of your email address is in small letters. For instance, instead of Education@gmail.com, use education@gmail.com.

Question: When I entered my school fees, it showed “Invalid education fees”.

Ans: In most cases, it could be due to poor internet connection. However, if you’ve tried several times without luck, contact your institution to resolve the issue by uploading the right document on the Student Verification System (SVS).

Question: My school is not showing on the institution drop-down list?

Ans: If you are in a state-owned institution, you have to be patient till NELFUND onboard state institutions. If you’re in a federal institution and facing the issue, kindly refresh the page.

Question: I entered my matriculation number but it is not verifying on the portal.

Ans:  If the ICT Unit of your institution is yet to upload your data on the NELFUND Student Verification System. Without the SVS, you will not be able to apply or may continue to encounter errors with your application.

Question: I’m yet to get the verification link days after creating an account on NELFUND portal.

Ans: First, make sure that you’re entering the correct email address and check your SPAM folder if you use Gmail or JUNK folder if you use Yahoo Mail.

Question: Why is my JAMB number not verifying?

Ans: Reach out to your institution to ensure your admission is supported by the Joint Admission Matriculation Board (JAMB).

Question: I’m a student of Lagos State University (LASU) and I’m unable to apply.

Ans:  The portal will be opened to students in all state-owned institutions on June 25, 20204. States are in the second phase of the student loan.

BVN-related issues

Question: I have been trying to verify through BVN, but it isn’t working.

Answer: The loan agency promised that it is working closely with the National Identity Management Commission (NIMC) to resolve the issue.

“If you had trouble verifying your BVN on the student loan application portal, please try again. We’ve taken steps to make the process smoother,” it says in a Tweet.

Application

How can I apply for upkeep loan if I forgot to add it during application stage?

If you forgot to apply for upkeep loan at the time of application and submission, the management of the Fund has promised to add that option very soon.

Can apply for the loan if I got admission via pre-degree or prelim?

Regardless of your method of admission, your admission into any tertiary institution must be regularized, backed and verified by the Joint Admission and Matriculation Board (JAMB). Your application will not be honored without JAMB number.

Question: How will I know if my application is approved?

Ans: You will be notified through email. Besides, you can always login to check the status of your application in your dashboard.

Can a student still apply after the fees has been disturbed to the institution?

The student loan is an ongoing process, it has no closing date, student can always apply even after the initial disbursement has been made to their institution.

Is there an option to cancel my loan?

Information we received from the management of NELFUND reveal that a loan cancellation button will be activated very soon on the portal.

Question: I’m in a private university and I’m unable to apply.

Ans: No, you can’t apply if you are in a private university. The Nigerian student loan is designed for the less privileged as means to make education available for everyone.

Question: Who is eligible to apply for student loans in Nigeria?

Ans: You can apply if you have been given admission to study at any Public Nigerian institutions, including universities, polytechnics, colleges of education, or vocational schools.

Question: Is there an age limit for applicants?

Ans: There is no age limit. You can apply provided you are an undergraduate, a Nigerian and in government institutions.

Why can’t Postgraduate student apply for NELFUND loan?

The government is channeling its resources to supporting Nigerians who aspire to get a first degree. So, NELFUND does not provide loans for postgraduate students at the moment.

Question: What do I need to apply?

Ans: You must provide your Matriculation number, a proof of admission that includes Name, Date of Birth, Admission, JAMB number, NIN, and BVN.

The portal is designed in such a way that it will be extremely difficult for anyone to create an account on NELFUND without a matriculation number.

Q: My record can not be found

Ans: Complain to the ICT Unit of your institution.

Disbursement

What will happen in a situation whereby students whose institutional fees were disbursed but their dashboard has remained unchanged?

Students who submitted their application which was verified and approved between May 24 and July 17, 2024, should confirm from their institution.

If new session begins October, will NELFUND disburse for current or new session?

NELFUND will pay her fees for the new session.

Question: Will the school fees be paid directly into my bank account?

Ans: No. To ensure that the loan is used for the intended purpose,  the Nigerian Education Loan Fund (NELFUND) will disburse the institutional fees (school fees) directly into your school account after verification has been completed.

Question: I mistakenly input the wrong bank account number during application, now I haven’t received upkeep loan from NELFUND, please how can I correct it?

Answer: To correct your bank account number, kindly create ticket at nelfund.esupport.ng/create. Under category, select “Loan management” and select “loan disbursement issues” under the subcategory.

Question: Can a Direct Entry Student apply for the loan?

Ans: Yes, a DE student can apply if you have been given a valid admission to study at any higher institution. You must also provide the above requirements/documents to apply.

Question: What is the disbursement timeline?

Ans: NELFUND will disburse within four weeks of approval. However, the timeline of disbursement may depend on how cooperative your institution is because NELFUND will also have to verify from your institution to be sure that you are what you claimed you are and that you’ve not inflated the school fees.

Question: Is the loan applied for only once?

Ans: The loan will be applied for every academic session by the student. Meaning if you’re in 100 level now, you will get another one when it is time to pay your 200 level school fees.

Repayment

Question: Who will be responsible for the repayment?

Ans: You will be responsible for the repayment of the loan.

Are we going to payback NELFUND loan?

That is why it is called education loan fund. It is a loan. It is not a grant. It is not a national cake.

Question: Is there an interest payable on the loan?

Ans: It is a no-interest loan.

Question: When will I be mandated to start paying the loan?

Ans: You are expected to start repayment two years after you have completed the mandatory one-year NYSC.

Question: What will happen if I still don’t have a job after two years after NYSC?

Answer: You should notify NELFUND by sworn court affidavit every 3 (three) months after two years post NYSC if you are still unable to gain employment.

Question: What is the interest rate on the NELFUND loan?

Ans: The Students Loans (Access to Higher Education) Act, 2024 is an Act of the Parliament that makes it possible for undergraduate Nigerian students to access free-interest loans from the Federal Government to enable them to pay for institutional charges and upkeep at any higher institution of their choice within Nigeria.

List of beneficiaries

For the purpose of transparency, cannot NELFUND publish the list of beneficiaries?

Because of data protection and privacy issues, NELFUND will not publish the names of beneficiaries of the loan. It is important clarity that Federal Mortgage Bank doesn’t publish the names of its beneficiaries. So, call for NELFUND to make public the names of student loan beneficiaries may not work.

Source of funding

Question: What are NELFUND sources of funds?

Answer: NELFUND sources include one percent of all profits from oil and other minerals, one percent of taxes, levies and duties from the Federal Inland Revenue Service (FIRS), Nigeria Immigration Service (NIS), Nigerian Custom Service (NCS), Education Bonds and Education Endowment Fund schemes.

Conclusion:

We expect you to take full advantage of this opportunity, it shouldn’t elude you. But ensure that you correctly fill in your details.

If there are any challenges you are facing that are not covered by this post, kindly let us know.

Join EdubaseNG WhatsApp Channel to get the latest education & student loan tips

Join our Telegram Channel to get the latest news about Student Loans & Education News.

Are you a stakeholder in education? You can become our guest writer. Write to us using our our email address here