Best Easy Way to Get Students Loan in Nigeria 2023
Here are Best Easy Way to Get Students Loan in Nigeria 2023. We all Know Some Companies that offer loan to international students in Nigeria Do Exist,
Here are Ways Of Online loan for students in Nigeria.
Types Of Students Loan in Nigeria
Loans from the Federal Government of Nigeria: These are for those who are studying at a tertiary level.
They fall under the National Youth Service Corps (NYSC) Loan Scheme.oans from the Loans Board: These are for those who are studying at a tertiary level.
They fall under the Postgraduate School Education (PSE)/Junior Staff of the Banks Loan Scheme.
Under both schemes, you can borrow depending on your needs and academic performance by meeting the necessary criteria.
But before we proceed, we need to take a look at what qualifies you to apply for a loan in Nigeria.
Eligibility To Get Student Loan in Nigeria
To be eligible to get a Student Loan in Nigeria, you should meet the following requirements:
You must be 18 years or above.You must meet the criteria of your school
Refer to them for your qualification and academic requirements
Do not exaggerate on them because they may deny your loan application
If they do, you do not have anything to lose but time and money because the money is available only for those who qualify under the rules
You must satisfy the Nigerian government rules
For a Federal Government’s student loan, the minimum duration of study is two years and can go to six years, depending on your course
While for a Loans Board student loan, the minimum duration of study is one year and can go to three years, depending on your course
Your age must not be more than 35 years if you are applying for a Federal
Government’s loan or up to 40 if you are applying for a Loans Board loan
For a Federal Government’s loan, you must be a high school graduate
You may also qualify for the PSE/ Junior Staff of the Banks Loan Scheme if you have a post Junior School Certificate (PSJC) or an OND/OND with Upper Credit
For a Loans Board loan, you must be employed with a fixed monthly wage of NGN 5,000 and possessing the necessary skills to pursue your course
If you are not employed but are an entrepreneur with fixed capital and business, that is also acceptabLe both schemes, you should have a valid bank account
Those who do not have a bank account can easily get one online
There are several banks offering comprehensive services to cater for all your banking needs and security concerns
You must apply for the loan within the period specified in the guidelines
In case of any delay, you may miss out on a Nigerian Government’s loan because they are very strict on timelines.
Apply for scholarship from banks listed on NBS, NAB, PIB or CBN
Banks with branches in Nigeria are usually very supportive of the idea that you should get a scholarship before getting a loan.
While this is not an option for all students, it’s certainly something to consider especially if you are from a poor.
Take advantage of the opportunity and start applying for small scholarships online.