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Update

Understanding the Student Loan Act: A Guide

1 February 2026

The recently signed Student Loan Act is a game-changer for Nigerian tertiary education. However, many students still have questions about eligibility and repayment.

In this article, we break down the key provisions of the Act, explaining interest rates (zero!), repayment plans (income-contingent), and the application process via the NELFUND portal.

Visit the NELFUND portal for full details and to submit your application.