The Nigerian Education Loan Fund (NELFUND) has clarified that its interest-free student loan scheme is voluntary and not compulsory for students.
The clarification was made in a statement signed by its Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, on Wednesday, October 21, 2026 in Abuja.
According to NELFUND, the loan was created to help eligible Nigerian students who genuinely need financial support to pay for their education.
The Fund stressed that students who can finance their studies on their own are under no obligation to apply for the loan.
NELFUND said making the loan compulsory for all students would be against the main purpose of the initiative, which is to remove financial barriers to higher education.
The agency also reminded beneficiaries that although the loan is interest-free, they are still required to repay according to the Student Loans Act.
The student loan portal for the 2026/2027 academic session is currently open and students can apply via https://nelf.gov.ng
Students are advised to only apply if they truly need financial assistance.
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