Student Loan ACT – Fastest Way To Apply For Student Loan In Nigeria

Are you a student, this post is for you if you need a loan. We are going to get to know more about student loan apps, student loan ACT is now trending, how to apply for a student loan and the requirements to apply for student loans in Nigeria in this post.

Your new Nigerian president, His Excellency Bola Ahmed Tinubu has willingly assigned (Student Loan ACT) to fulfil his promise to all Nigerian students who are interested to apply for Student Loan ACT In Nigeria.

Does Nigeria give student loans?  If you want to enter school or have gotten admission into any public Nigerian university, polytechnic, college of education, or any technical and vocational education and training (TVET) school and don’t have enough money, the Nigerian government has volunteered to offer students loans. Rush now to apply for a Student loan in Nigeria.

In this post, we have a lot of things to talk about loans, but let’s know what student loan is all about.

What Is A Student Loan?

A student loan is a platform that is open for students who are financially unable to meet up with fees such as tuition, books and supplies, and living expenses.

In this post, we have a lot of things to talk about loans, but let us first look into STUDENT LOAN IN NIGERIA.

Also, see: New Wema Bank Ussd Code For Transfer, Balance, Deposit, Loan, Data & Airtime

Who Can Apply For Student Loan

The people who can apply for student loans are local schools, private and even tertiary students:

1. Pre-nursery
2. Primary
3. Secondary schools
4. State Ministry of Education and Corporate Affairs Commission.

while schools with CAC registration but without Ministry of Education approval can access up to N2 million for 90 days.

Documents Required To Applying For Student Loan

Note: before you can acquire a student loan, you must first meet up to the requirements; so as to apply for a student loan for 2023. Here are the other documents that you must provide which the bank will demand from you.

• A clear approval from your school whether Government or private.
• The school must be a (Government Approve)
• Register your school with CAC
• The school Memorandum and Articles of Association (MEMART) information
• Your documents must contain how long your school has stayed
• The document must contain the total number of students in the school

How To Get A Loan To Study In Nigeria?

This is how you can acquire a loan as a student in Nigeria. There are a lot of bank that can offer loans to student such as: Access Bank student loan, GT Bank student loan, First Bank FirstEdu loan, and Federal Government education loan.

Let’s look into this bank one after the other, Do read to know more.

Access Bank Student Loan

Here are the requirement for applying for Access Bank student loan in Nigeria.

• You must have an account with the Access Bank for 6 months or 12 months
• The school must register with CAC
• You can only loan a maximum amount of ₦5 million
• The school must have a minimum population of 100 students or more

How To Apply For Access Bank Student Loan?

• You will be given a form to fill out, your personal information
• You will be asked to provide your admission letter
• The exact amount of School fees in the name of the student.
• You will be asked to provide your parent/sponsor’s salary account number
• A copy of the employment ID for your parents
• Valid ID card and recent utility bill (with the last 3 months)

Then, send your completed form and all required documents to [email protected]. Once the loan is approved,  immediately transferred to the school’s account.

GT Bank Student Loan

Here are the requirement for applying for GT Bank Student Loan

• You must have an account with GT Bank for 4 months
• The school must register with CAC
• You can only loan a maximum amount of ₦5 million
• The school must have a minimum population of 100 students or more

How To Apply For A GT Student Loan?

• You will be given a form to fill out
• Make sure you completed the application form.
• Full information about your parents or guardian and (undertaking form).
• The correct school account number.

First Bank FirstEdu Loan

Here are the requirement for applying for First Bank (FirstEdu) Loan

• You must have an account with the First Bank for 6 months or 12 months
• The school must register with CAC
• You can only loan a maximum amount of ₦10 million
• The school must have a minimum population of 100 students or more

How To Apply For A First Bank FirstEdu Loan?

• To apply for a First Bank FirstEdu loan, kindly download First Edu Loan from the Google play store and install it.
• Fill in the necessary information that is provided
• Submit the loan application form
• You will receive payment.

Federal Government Education Loan

The Federal Government has approved education banks and student loan boards by states to allow students easy access to funds. To fund teacher’s development, and secondary education, as well as establish a special intervention fund for individuals with special needs.

In conclusion

Apply immediately for a STUDENT LOAN IN NIGERIA, You can only be able to borrow money when you meet up with the basic requirement to be eligible for a loan grant. Hope this post helps you know about Student Loan ACT – Fastest Way To Apply For Student Loan In Nigeria. THANKS FOR READING.