Alimosho Local Government Chairman Urges Students from Less-Privileged Homes to Embrace Federal Student Loan Scheme
The Executive Chairman of Alimosho Local Government, Hon. Akinpelu Ibrahim Johnson, has called on students from less-privileged backgrounds to take full advantage of the student loan initiative introduced by the administration of President Bola Ahmed Tinubu.
Speaking in his office in the early hours of Monday, the Chairman commended the Federal Government’s efforts at repositioning the nation through people-centered policies. He noted that the student loan scheme is one of the strategic interventions designed to address the financial barriers preventing many youths from accessing higher education.
“The administration of President Bola Ahmed Tinubu is determined to change the fortunes of this country. One of the numerous plans in place to fix Nigeria is the student loan scheme, which I believe many of our youths in this part of the country are yet to fully utilize,” he said.
Hon. Akinpelu further emphasized that the opportunity should be seen as a lifeline for students who lack the financial capacity to continue their education. According to him, such schemes are common in advanced democracies and have proven effective in promoting educational access and social mobility.Every student must tap into this opportunity. No one should complain of not having the resources to fund their education again.”
“There should be no excuse for dropping out of school anymore,” he added. The Chairman urged parents, guardians, and community leaders to encourage eligible students to explore the loan scheme and secure a brighter future through education.
A-to-Z guide on NELFUND:
A – Application Process
Portal: Applications are submitted exclusively online at nelf.gov.ng.
Steps: Register, fill in personal details (NIN, BVN, JAMB number, Matric Number), select institution, and submit.
Frequency: Loans are applied for every academic session.
B – Beneficiaries & Eligibility
Eligibility: Nigerian students in public universities, polytechnics, colleges of education, and vocational training centers.
Target: Students with verified needs to ensure uninterrupted education.
Private Institutions: Currently, NELFUND primarily covers public institutions, with plans to expand later.
C – Components of the Loan
Tuition Fee: Paid directly to the institution.
Upkeep Allowance: Monthly stipend (approx. ₦20,000) paid directly to the student’s account.
D – Disbursement
Process: Digital disbursement via bank/mobile transfers to reduce leakages.
Timeline: Funds are typically disbursed within 30 days of approval.
Batching: Loans are disbursed in batches as institutions submit verified data.
E – Education Requirement
Applicants must have a JAMB number, NIN, and be admitted into a public institution.
F – Fees Covered
The loan covers tuition (institutional fees) and, if selected, a monthly upkeep stipend.
G – Governing Act
The Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024, signed by President Bola Tinubu on April 3, 2024, governs the fund.
H – How to Know if Approved
Applicants receive notifications via email, and status can be tracked on the NELFUND portal.
I – Interest Rate
The loan is 100% interest-free.
J – JAMB Details
JAMB number is a non-negotiable requirement for the application.
K – Key Features
No hidden charges, online application, digital verification.
L – List of Institutions
Major public institutions, including UNILAG, OAU, UNIBEN, and many state polytechnics/universities, are included.
M – Maximum Amount
The maximum amount depends on the institution’s fees, with provisions for tuition and up to ₦20,000 monthly upkeep.
N – NYSC & Repayment
Repayment commences two years after the completion of the National Youth Service Corps (NYSC) program.
O – Online Portal
nelf.gov.ng is the official, secure site for all transactions.
P – Privacy & Data
Applicant data is protected, and consent is required for verification with NIMC/JAMB.
Q – Qualification for Repayment Delay
If a beneficiary is unemployed two years after NYSC, they must notify NELFUND via a sworn court affidavit every 3 months.
R – Repayment Process
Repayment is made upon employment, with options for deductions from salary or voluntary repayment.
S – Security & Verification
Uses BVN and NIN to verify identities and prevent fraud.
T – Terms & Conditions
Beneficiaries must maintain academic standing; loan is not a grant.
U – Upkeep Loan
A,000 monthly stipend meant for student living expenses.
V – Vocational Skills
The scheme has expanded to cover individuals acquiring vocational skills, not just university students.
W – What if I don’t have a job?
You must provide an affidavit every 3 months until employed.
X – X (Twitter) & Social Media
Official updates are provided on X (@NELFUND).
Y – Year of Launch
The portal for the 2024/2025 academic session opened in May 2024.
Z – Zero Hidden Charges
The loan has no hidden fees, providing a transparent financial aid experience.
Packaged By
Media Office of The Executive Chairman,
Alimosho Local Government.