Since the launch of the student loan application portal on May 24, 2024, over 60, 000 students of federal tertiary institutions have registered, while only a few of that number have been able to successfully apply for a loan. This is because many students are unable to verify their bank accounts to proceed to the next step. If you are experiencing the bank verification failure issue, this post is for you. Please read carefully and follow the instructions that I will give later in this article to resolve the bank verification failure issue.
Why Bank Verification Fails
Before I show you the solution to the bank verification challenge, you need to understand why you are unable to verify your bank account in order to apply for the student loan.
So here are the possible reasons why you have not been able to verify your bank to apply for the student loan:
- Mistake in the spelling of your name: Your bank verification will fail if there is a misspell in any of the names. Note that this is not a common issue so far.
- Arrangement of your name: your bank verification will fail if your name is not arranged the same way across your BVN, NIN, and the bank account you submitted for your upkeep allowance.
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How To Resolve Bank Verification Fail’ Issue To Successfully Apply For Student Loan
To successfully resolve the bank verification fail issue, make sure that the name on your BVN, NIN, JAMB, and bank account has no spelling error and is arranged the same way.
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Students are also to ensure that the name format (First Name, Last Name & Middle Name) on both BVN and NIN matches.
For example, if your name is Nafhad Salihu Mohammed, then it should appear like this:
- BVN: Nafhad Salihu Mohammed
- NIN: Nafhad Salihu Mohammed
- Bank Account: Nafhad Salihu Mohammed
- JAMB: Nafhad Salihu Mohammed
Read General Issues Experienced By Student Loan Applicants And How To Resolve Them
What Should I Do If My Name Is Arranged Differently?
You don’t need to be worried if your name is not arranged like in the example above, because there is a solution. All you need to do is contact the NELFUND support team for assistance.
How Can I Contact NELFUND Support Agents For Assistance?
Visit this link https://nelfund.esupport.ng/ to book a ticket, and the support team will help you resolve the issue.
Conclusion
The student loan initiative is one of the ways through which the Bola Ahmed Tinubu-led government wants to give underprivileged Nigerians access to education. This is an opportunity that must not be missed. Therefore, be encouraged to do everything that is required so that you don’t only obtain the loan but also get to receive N20,000 monthly as an upkeep allowance.
Drop all your questions in the comment section, and I will answer them immediately.
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