NELFUND Clarifies Student Loan Is Voluntary, Not Compulsory. The Nigerian Education Loan Fund (NELFUND) has clarified that its interest-free student loan scheme is voluntary and not compulsory for Nigerian students.
In a statement dated October 21, 2026, the Fund said no student should be forced to apply for the loan as a condition for pursuing higher education.
NELFUND explained that the scheme was established to support students facing financial difficulties in paying for their education. It said the decision to apply should depend on each student’s financial circumstances and genuine need for assistance.
The Fund stressed that students who do not require financial support are under no obligation to apply for or access the loan.
NELFUND also warned that making the loan compulsory for all students, regardless of their financial situation, would defeat the purpose of the programme.
Although the loan is interest-free, beneficiaries are required to meet repayment obligations under the law. The Fund therefore encouraged students to understand the terms and conditions before applying.
NELFUND further urged tertiary institutions and student leaders to provide accurate information about the scheme to ensure students understand their options.
Students who need financial assistance can visit the official NELFUND Student Loan Portal for information about eligibility and applications.
The Fund reiterated that the student loan is a support mechanism, not an obligation, and that students who do not need financial assistance should not be compelled to apply.
NELFUND clarifies: Student loan access is voluntary, not compulsoryReaffirms commitment to ensuring that eligible Nigerian students who genuinely need financial assistance can access interest-free loans to pursue their education. #NELFUNDstudentloan https://t.co/OeYPdrDUKJ
— NELFUND (@NELFUND) October 21, 2026