Student Loans in Nigeria: how to apply

The Student Loan of the federal Republic of Nigeria is a financial assistance program aimed at alleviating the financial burden of tertiary education for Nigerian students. If you’re seeking support for your education expenses, here’s a step-by-step guide on how to apply for the Federal Government Student Loan in Nigeria.


Before starting the application process, ensure that you meet the following requirements:

  • Your family’s annual income should be less than N500,000.
  • Provide two civil servants with a minimum of 12 years in service, or a Lawyer with at least 10 years post-call experience, a Judicial officer, or a Justice of Peace as guarantors.
  • Students with parents who have defaulted on previous loans will not be considered. Also, you must not have defaulted on any previous loans or been involved in exam malpractice, felony, or drug offenses.

Student Loan Application Process in Nigeria

Here is the process for the loan:

1. Prepare Required Documents

  • A completed application form.
  • Copy of your admission letter.
  • Copy of your JAMB result slip.
  • Copy of your WAEC/NECO result certificate.
  • Copy of your birth certificate.
  • Copy of your passport photograph.
  • Guarantor’s letter of support from each guarantor.
  • Copy of your guarantor’s employment letter(s).
  • Copy of your guarantor’s passport photographs.

2. Submission to Student Affairs Office

Submit the completed application form along with all the required documents to the Student Affairs Office of your institution.

3. Review and Recommendation

The Student Affairs Office will review your application and provide a recommendation to the Central Bank of Nigeria (CBN).

4. Decision by CBN

The CBN will make a decision on whether to grant you the loan based on the recommendation.

5. Loan Disbursement

If approved, the loan amount will be paid directly to your institution. Your institution will then disburse the funds to your account.

How to Apply for student loan in Nigeria

Here are steps to submit your application:

1. Visit the website of the Central Bank of Nigeria (CBN).

2. Download the student loan application form.

3. Complete the application form accurately, ensuring all required documents are attached.

4. Submit the application form and attached documents to the Student Affairs Office of your institution.

Important Notes

  • Repayment Period: You are required to repay the loan over a period of 10 years after completing your studies.
  • Legal Consequences: The law stipulates two years imprisonment or a fine of N500,000, or both, for students who default on repayment, or anyone found aiding defaulters.

Banks that Offer Student Loan in Nigeria

Here are prominent banks in Nigeria that also offer students loans:

1. Access Bank Student Loan


  • Designed to cover tuition fees, ensuring uninterrupted education
  • Loan amount can go up to ₦5 million
  • Option to refinance the loan for flexibility
  • Remittance services are available for added convenience


  • Completed application form
  • Admission letter
  • Tuition advice
  • Letter of domiciliation of salary account (either yours or your parent’s/sponsor’s)
  • Copy of employment ID or valid means of identification
  • BVN (Bank Verification Number)
  • Credit checks are part of the process

2. GTBank Student Loan


  • Designed to finance school fees for schools in Nigeria
  • Loan amount up to ₦5 million with a maximum tenure of 4 months per request
  • Competitive interest rates
  • Immediate access to the loan amount


  • Completed application form and employer undertaking form
  • School fees bill and credit insurance
  • Staff terminal benefit should be domiciled in GTBank or obtain Corporate Guarantee

3. First Bank FirstEdu Loan


  • Targets proprietors, offering flexible funding for school facility upgrades and funding gaps.
  • Flexible repayment plan spread over 90 days.
  • Access to a maximum amount of ₦10 million.
  • Collateral requirement is the domiciliation of school fees with First Bank.
  • The school must have an account relationship with FirstBank for a minimum of 6 months or 12 months with other banks.
  • Target markets include private schools duly under CAC and their State Government.
  • The school population must be a minimum of 100 students.


By following this guide diligently, you can successfully submit the application for the Federal Government Student Loan in Nigeria to secure the financial support you need for your educational journey. Remember to adhere to all requirements and responsibilities outlined in the application process to ensure a smooth and successful experience.

20 thoughts on “Student Loans in Nigeria: how to apply”

  1. Pls I need assistance to do my faculty and department have resume second semester now still unable to do my clearance.pls help oo.

  2. Undiandeye Daniel

    I need financial Assistance from Government my account number is 3001047983 Eco bank Names, Undiandeye Daniel Undiandeye

  3. matthew emmanuel ori

    Am student with a smart phone wanting to make money with it n to alot of bills like school fees,rent,parentals n young ones bills also.Mang online business is too financially demanding.

  4. I was like another problem again but I never new that this President is different please try and change things for us thanks so much God bless you Amen Jesus Christ will protect u amen

  5. Shettima abubakar

    May the good of this news be real thank to our president bout the schooling many poor people want take their children bt the situation also looking for food to eat no money for schooling bt thank god if it can be even with the loan

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top