Access to higher education should not depend on a family’s bank balance. Nigeria’s Nigerian Education Loan Fund (NELFUND) is designed to help bridge that gap: created under the Student Loans Act and rolled out in 2024, the scheme now aims to cover more students and more programmes — a step that could change thousands of lives.

What is NELFUND and why it matters

NELFUND (sometimes written NELFund) was established to provide zero-interest student loans to cover tuition and upkeep for eligible students in approved tertiary programmes. The Act that reformed the earlier loan law was signed into law in April 2024 and the national portal opened for applications soon after, making large-scale access to tertiary education feasible for many families.

A simple step-by-step guide to apply and manage your loan

• Confirm that your course and institution are recognised by NELFUND and that you meet nationality and academic requirements. The official NELFUND FAQ and portal list eligibility and required documents.

• Create an account at the official portal, complete the KYC fields (NIN, contact details, academic records) and upload scanned ID, admission letters and fee invoices. The portal was designed to make the process quick and paper-light.

• NELFUND disburses tuition directly to institutions and, where applicable, provides upkeep stipends. Use the funds strictly for approved costs (tuition, accommodation, study materials) to avoid compliance issues.

• NELFUND repayment terms typically begin after a set grace period (for example, repayment often starts two years after NYSC for eligible graduates). Read the repayment guidelines carefully and keep records of your agreement to avoid surprises.

• Create a simple budget, prioritize tuition and essential living costs, and treat the loan like a future financial commitment. If you can, set aside small savings during study to reduce future pressure. Financial literacy is as important as borrowing.

How Blessed Exchange can help

While NELFUND addresses tuition and upkeep, many students and families still need reliable ways to move money between the UK and Nigeria for living costs or study materials. Blessed Exchange offers fast, secure transfers with competitive exchange rates — a practical complement to student loans when families need to send or receive funds quickly for tuition, accommodation or emergencies. Mention Blessed Exchange when sharing payment details with relatives to keep transfers transparent and cost-efficient. (Note: check your institution’s payment instructions before sending fees.)

Final thoughts

The expansion of NELFUND to more programmes is a welcome, practical step towards broader education access in Nigeria. Apply via the official NELFUND portal, follow the steps above, and combine careful money management with trustworthy transfer services like Blessed Exchange when you need to move funds internationally. For official application details and the latest guidelines, visit the . NELFUND portal