NELFUND Warns Against Fake Student Loan Portal: What Students Need to Know

The Nigeria Education Loan Fund (NELFUND) has raised an alarm over a fraudulent website, www.fedstudyloan-gov.ng, which falsely claims to be an official platform for student loan applications. This scam aims to deceive unsuspecting students seeking financial aid from the Federal Government’s student loan program. The management of NELFUND has strongly condemned this fraudulent activity and urges students to remain vigilant.

Identifying the Fake NELFUND Website

Students and the general public must be cautious of fraudulent websites and phishing scams designed to steal sensitive personal and financial information. The fake website, www.fedstudyloan-gov.ng, misleads students into believing it is affiliated with NELFUND. However, the legitimate student loan application process has not yet been officially announced by NELFUND.

To avoid falling victim to scams, students should always verify website URLs before submitting any personal data. The official and verified website for NELFUND is www.nelf.gov.ng. Any other website claiming to represent NELFUND is fraudulent and should be reported immediately.

Warning Signs of a Scam Student Loan Website

There are key indicators that can help students identify fake student loan portals:

1. Unusual Website URL – Legitimate government websites often use .gov.ng or .edu.ng domains.
2. Request for Upfront Payments – NELFUND does not require students to pay fees to apply for loans.
3. Suspicious Email Addresses – Fraudulent websites often use generic email addresses like Gmail or Yahoo instead of official government domains.
4. Grammatical and Spelling Errors – Many scam websites contain poorly written content with grammatical mistakes.
5. Pressure to Act Quickly – Scammers create a sense of urgency, claiming limited slots are available.
6. No Official Contact Information – A lack of verified phone numbers or office addresses is a red flag.

Students are advised to conduct thorough research before submitting any details online. If in doubt, they should contact NELFUND directly through official communication channels.

Also Read: Nelfund Disburses funds to Unical 

How to Protect Yourself from Online Student Loan Scams

To safeguard personal information and finances, students should take the following precautions:

• Verify Information from Reliable Sources: Always check official government websites and media platforms for announcements regarding student loans.
• Enable Two-Factor Authentication (2FA): This adds an extra layer of security to prevent unauthorized access to sensitive data.
• Report Suspicious Websites: If you encounter a fraudulent website, report it to the relevant authorities, such as the Economic and Financial Crimes Commission (EFCC) and the Nigerian Communications Commission (NCC).
• Educate Peers: Share information about fraudulent activities with fellow students to prevent others from falling victim.

The Legitimate NELFUND Student Loan Program

The Nigerian Education Loan Fund (NELFUND) is committed to providing financial assistance to students across various tertiary institutions. As of February 3, NELFUND has disbursed over N20 billion in institutional fees, benefiting approximately 192,906 students nationwide.

The official student loan program will cover tuition and other necessary expenses, enabling students to focus on their academic pursuits without financial constraints. However, students should remain patient and wait for the official launch of the application process.

How to Apply for NELFUND Student Loans Safely

Once the official loan application process begins, students can follow these safe steps:

1. Visit the Official Website – Only use www.nelf.gov.ng for applications.
2. Check Eligibility Criteria – Ensure you meet the requirements set by NELFUND.
3. Submit Accurate Information – Provide valid academic and personal details.
4. Avoid Third-Party Agents – Do not rely on individuals or unofficial agents to process your application.
5. Stay Updated – Follow NELFUND’s official social media accounts and government publications for announcements.

The Impact of Fake Loan Websites on Students

Fake student loan websites not only steal personal and financial information but also create unnecessary anxiety for students who genuinely need financial aid. Some of the negative consequences include:

• Identity Theft: Personal information can be used for fraudulent activities.
• Financial Loss: Scammers often ask for deposits, leading to financial exploitation.
• Psychological Stress: Victims may face stress and emotional distress after realizing they were scammed.
• Delayed Academic Plans: Fake websites create confusion and uncertainty, delaying genuine loan applications.

Government Measures to Combat Online Loan Scams

The Nigerian government, through agencies like the Economic and Financial Crimes Commission (EFCC), the Central Bank of Nigeria (CBN), and the Nigerian Communications Commission (NCC), is actively working to combat fraudulent online loan platforms. These measures include:

• Blacklisting and Taking Down Fraudulent Websites: Authorities work with internet service providers to shut down scam websites.
• Legal Prosecution of Fraudsters: Cybercriminals caught running fake loan schemes face legal consequences.
• Public Awareness Campaigns: Educational initiatives are being implemented to inform students about online fraud.
• Collaboration with Financial Institutions: Banks and fintech companies are cooperating to detect and prevent loan-related scams.

Final Thoughts: Staying Safe from Fake Loan Portals

Students and parents must remain cautious and vigilant to avoid falling victim to fake loan websites. By following security measures, verifying sources, and waiting for official announcements, they can protect themselves from fraudulent schemes.

NELFUND remains committed to ensuring Nigerian students receive the necessary financial support in a safe and secure manner. For accurate updates, always visit the official NELFUND website at www.nelf.gov.ng.

Call to Action

If you or someone you know has encountered a fraudulent loan website, report it immediately to relevant authorities. Share this article to raise awareness and protect others from falling victim to scams.