Overview

The document outlines the official guidelines for the Nigerian Education Loan Fund (NELFUND) under the Students Loans Act, 2024. It provides a comprehensive framework for the operation of the student loan scheme in Nigeria, including eligibility criteria, application process, disbursement, repayment, and legal considerations. The guidelines are issued by the Board in compliance with Section 23(3) of the Act. Key sections include a glossary of acronyms (e.g., BVN, CBN, JAMB), an introduction covering the background and objectives of NELFUND, eligibility criteria based on nationality and academic requirements, disqualification criteria, application procedures, loan disbursement conditions involving loan agreements and Global Standing Instruction mandates, repayment terms with options like Income-Based Repayment, and legal/ethical considerations such as data protection. The document emphasizes the importance of higher education referencing UNESCO and SDG 4, targeting Nigerians for financial support to access tertiary education and skills training.

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