LisaNigerian banks that provide student loans
Education is become more than just a requirement. Regardless of their status, it is part of the culture of the average Nigerian family.
Education is not inexpensive, just like everything else that generates a lot of interest. As a result, there are currently websites where you may apply for a student loan in Nigeria to pay for your education.
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In this article, we’ve discussed a few quick financing options for school expenses.
1. Access Bank Student Loan is the first step in obtaining a student loan in Nigeria.
An advance for school fees from Access Bank, the student loan is made to help students with short-term finance for tuition.
Features
Make sure that nothing deters students from learning.You may receive up to $5 million.
There is a chance to restructure the loan.
Remittance services are also offered.
Requirements
filled-out application form
Your letter of admission
tuition assistance
Additionally, a letter of domiciliation for your salary account or the salary account of your parents or sponsors, a copy of your job ID, or another appropriate form of identification for you or your parents or sponsors, and a BVN (See how to check BVN)
credit inquiries.
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Nigerian banks that provide student loans
2. Student Loan from GT Bank
The school fees advance from GT Bank is a loan product created to help you pay for your child’s or ward’s tuition at schools in Nigeria exclusively.
Features
A maximum term of 4 months and up to 5 million in student loans are available per request.
affordable interest rate
access to the financing right away
Requirements
Completed application form and employer undertaking form
Bill for tuition and credit insurance
Last but not least, make sure that the staff terminal benefit is domiciled in GTBank or acquire Corporate Guarantee
3. Education Loan
Owners are the focus of the FirstEdu loan from First Bank. It provides adaptable funding for improving school infrastructure and filling funding shortfalls until school fees are received.
Features/Requirements
It features a flexible payback schedule that is spaced out over 90 days, and a maximum of $10 million is available.
The only condition for collateral is the domiciliation of tuition with First Bank.
The School’s account relationship with FirstBank must have lasted at least six months with them, or twelve months with other banks.
Private schools properly regulated by CAC and their State Government are the target markets.
Lastly, there must be at least 100 students enrolled in the school.
4. Government Loans for Education
In order to give students easy access to money, the Nigerian government sanctioned the creation of education banks and student loan boards by states with low interest rates.The government also gave its approval for all of the federation’s states to create educational funds. A specific intervention fund for people with exceptional needs is also being established, with a focus on secondary education and teacher development financing.
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Nigerian banks that provide student loans
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