Student Loan Application in 2024-2025 : Due to the hardship and financial difficulties most Nigerian student face on a daily basics while pursuing their (B.Sc) Bachelor Degree, the Federal Government recently announced that they will be a student loan for all the Nigerian student across the nation in other to reduce the academic stress and encourage student to go back to school. As a result of that we will be discussing in details on The Best ways to apply For Student Loan in 2024-2025
This great news was made public by the federal government spoke person on Media and Public Relations and Lead for the Nigerian Education Loan Fund and encourage all the media house to share it to all their digital platform to ensure every eligible student across the Nigeria,
The specific amount to be paid to qualify is (500,000) five hundred thousand naira depending on the institution tuitions fees however the body in charge of this promise never to go beyond this stipulated amount discussed above
Some Basics Requirement for Student Loan Application
- Personal provision of good credit score
- Source of income or Proof of Income.
- a certain down Payment plan for easy repayment
- Employment History or acquired skilled
- Working experience
- Transaction history or statement of account Creditworthiness same as your Credit score.
- Acceptable Property Valuation.
- Bank BVN bank verification number
- Account number
- NIN national identification number and other personal information that might be useful for this exercises
Step-By-Step Ways to Apply For a Student Loan
Step 1: https://portal.nelf.gov.ng
Step 2: Click on the “Apply Now”
Step 3: Click on “Get Started”
Step 4: Answer the questions on this page to continue by clicking on “Yes, I am a Nigerian”
Step 5: confirm and verify your educational information to be sure if it is correct. You would be required to select your school from a dropdown and provide your matric number to check if your school has uploaded your details.
Step 6: Click the “Verify with JAMB” and enter your JAMB details example jamb Reg No.
Step 7: open or create an account by entering your email address and password. You will need to confirm the password in the fields provided and click “Create Account.”
Step 8: retrieve the email verification link sent to your email. It will come with the steps by steps process to create the successful account
How to Complete Your Profile
After successful registration, log in by clicking the “LOGIN” button.
Step 1: input your email address and password to Login.
Step 2: Click on the “Proceed to Contact Details” button.
Step 3: complete your contact details with the current information of your phone number, provide your residential address, state of residence and local government area of residence. Then click and Proceed to educational details of the query
Step 4: Update your educational details by selecting your reputable higher Institution, and inputting your matric number. Then click “Proceed to Account Details.”
Step 5: Verify your BVN by entering your BVN, select your bank name and enter your account number. Click “save changes” to complete your profile.
How to Request For the Loan Application
Step 1: Click on the “Request for student loan” button at the top right of the screen on the home or loans page after logging into the application.
Step 2: If you want an upkeep loan, click the check box, and click *continue,” if all you need is the institutional charge, click the “Continue” button.
Step 3: Upload supporting documents. The admission letter is compulsory but the student ID and institution invoice are optional so that one is not necessary like that.
Click the checkbox for the attestation agreement, policy and declaration and then click “continue.”
Step 4: Read the loan overview and click the checkboxes for both the terms & conditions and GSI Mandate then click “Submit Application”
Step 5: Click on the “loans” button to view the status of your application
Conclusion
This article above have giving you the exact guide and procedure on how to successfully apply for student loan going on in the nations don’t be left out as a student if you need financial aids and assistance. For related article about loan, education and jobs always checks our websites below