How to Get a Student Loan in Nigeria. Are you planning to complete your academic studies at any approved institution in Nigeria but don’t have the funds to cover your entire tuition and other school-related expenses? If yes, then getting a student loan is the best option.
Education is expensive and well worth it, so it is important that you take advantage of it while you can. Whether you are looking for a little help to take care of your school fees, there are various sites that offer loans to help with school tuition for undergraduate or postgraduate degrees.
Discover the best student loans today. Easily walk into the nearest branches or start the application process online. See the available student loans and how to submit an application below.
How to Get a Student Loan
Because of how important education is today, funding education has moved beyond being a need. Many commercial banks, governments, and other institutions have developed websites where students can apply for loans to pay for their education.
If you decide to get a loan for your education, it is advisable to understand the terms and conditions of the loan. Student loans can come from the federal government, private organisations, or from financial institutions. Federally funded student loans frequently come with more advantages than loans obtained from private sources.
To be eligible for a student loan, you must complete and submit the loan application form. If you are interested in getting a private student loan, you will need to get someone with good credit to cosign on the loan.
There are numerous private and federal student loans available. We examined many of them and selected the best student loans based on loan types, loan consolidation possibilities, interest rates, cosigner requirements, and the whole loan application procedure.
In this article, we have published the best student loan platforms where you can get instant loans to finance your education. These platforms provide loans that differ from other types of loans in that their repayment plan is significantly more flexible and the interest rate is relatively cheaper. Below are some of them.
Best Student Loans of 2023
1. GT Bank Loans for Students
Guaranty Trust Bank offers student loans up to N5 Million. The interest rate is very competitive. Maximum tenor of four months per request.
For detailed info on how to apply for school fees advance at Guaranty Trust Bank, simply walk into any of their bank branches nationwide or visit their official portal via www.gtbank.com to start the application process.
2. Access Bank Student Loan
Access Bank student loans are among the best loans available because of their special offers, which are specially designed to give you a head start on continuing your studies.
The school fees loan, which provides up to N5,000,000 with a flexible repayment schedule, enables you to have access to funds to pay for your educational expenses.
This loan is also ideal for financing postgraduate and undergraduate study. Simply walk into any of their bank branches nationwide or visit their official portal via www.accessbankplc.com to start the application process.
3. Renmoney
With Renmoney, you can get a student loan from ₦20,000 up to ₦6 million to cover your house rent, books, tuition, and other school-related expenses.
All you need to do is select the loan tenure and amount, then provide some personal information. If your loan is authorized, confirm the information you’ve given, sign your documents, and receive the funds in your bank account within 24 hours. To start your application today, visit www.renmoney.com.
4. Federal Government Student Loan
The federal government approved the establishment of education banks and student loan boards in all states of the federation to allow students to easily have access to funds for their education.
These loans are specifically for people with exceptional needs, and they also support secondary education and teacher development.
5. Zenith Bank Student Loan
Zenith Bank’s education loan scheme is designed to provide short-term funding to enable parents/guardians to pay tuition fees for their children/wards. The maximum facility amount is N5,000,000 and the minimum facility amount is N100,000. Visit www.zenithbank.com to get started.
6. Specta
Education financing is easy with Specta. Specta is an online lending platform that gives you loans of up to 5 Million in one transaction all within 5 minutes! No visit to any office, no paperwork, and no collateral. With Specta, you can take care of urgent needs anytime, anywhere. Visit www.myspecta.com to get started.
Hope this article was helpful?