List Of Nigeria Banks That Offers Loan To Students

Student loan is money borrowed by a college/university student from a bank to pay their education and then pays back the money after they finish studying and must have resumed work.

Considering the high cost of leaving and education in Nigeria, students need money to level-up with their needs such as feeding, clothing, buying of textbooks and other studying materials.

In this article, this Online News Media will list out the Banks in Nigeria were students can comfortably get loans. The requirements and guidelines on how to get access to the loans will also be discussed.

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It also important to have in mind that a student loan has low interest rate, and more flexible to pay back therefore making it different from other types of loans.

2. Access Bank PLC

Access Bank Plc is one of the banks in Nigeria that offers loan to students using its ‘School Fees Scheme’ designed to provide students and parents with short-term loans to cover tuition fees expenses. Students can access up to N5 million loans with no option of getting another loan.

Requirements and Application

• Student’s admission letter
• Tuition advice
• Letter of domiciliation of students’ parents/guardians salary account
• A copy of employment ID or valid means of identification belonging to the students’ parent/guardians
• Bank Verification Number (BVN)

2. GT Bank

GTB provides ‘School Fees Advance’ loan designed to finance the payment of student’s school fees for schools/institutions in Nigeria only. The facility is mostly available to members of staff of public and reputable private organizations whose salaries are domiciled with the Bank. The loan is accessible with a maximum of 4 months tenure

Requirements and Application

• Submit Completed Application Form and Employer Undertaking Form.
• Provide School Fees bill and Credit Insurance.
• Ensure that staff terminal benefit is domiciled in GTBank or obtain Corporate Guarantee.

3. First Bank

First Bank gives loan to parents to pay their children’s school fees through a scheme called ‘FirstEdu Loan’. It also offers flexible funding for upgrading school facilities.

Requirements and Application

To aplply for First Bank loan, visit their website here and fill the form online.

4. Education Bank Loan

Education Bank Loan is approved by the Federal Government to establish loan boards by states at concessionary interest rates to allow students access funds.