How to get a student loan in Nigeria-List of Banks

Last Updated on December 7, 2023 by admin

Do you want to learn how to get a student loan in Nigeria and banks that offer it?  Student loans can be a necessity in getting a good job.but finding a loan may not come easy because they are not offered by as many financial conventional lenders in town. Debt certainly isn’t always a bad thing. A mortgage can help you afford a home. Both are investments worth making, and both come with fairly low interest rates.

Education is the passport to the future, for tomorrow belongs to those who prepare for it today. Most Banks in Nigeria offer different student loan, this article is designed to teach you where to get these student loans since they aren’t an everyday go get offer like any other financial service you may think of.

Getting education isn’t easy, and most students experience challenges during their degrees due to financial challenges, in my life journey I was made to know that An investment in knowledge pays the best interest.

Funding education should not be a herculean task with this array of options available for accessing quick loans in Nigeria. All you need is to choose from any of the platforms granting loans for school fees and ensure that you meet all their requirements


Below are list of financial institution in Nigeria that offer student loan


  1. Access bank School Fees Advance

The Access bank Advance for School Fees, offers short term financing for tuition fees from pre-primary school to post-graduate study and even payment for professional certifications.

Features of Access bank School Fees Advance

.Interest rate @ 20% p.a.
.Management Fee: 1% only
.Spread repayment over a period of 4 to 6 months
.Easy remittance of fees to school
.Refinancing is available

Required Documents for Access bank School Fees Advance

.Completed loan application form
.Means of Identification
.Admission letter
.Tuition Bill
.Credit Checks
.Duly accepted offer letter & term sheet

How to apply for Access bank School Fees Advance

.Download the attached forms and fill in with accurate information
.Append your electronic signature (don’t know how to go about it? Very easy! Simply download any scanner app on your phone, scan your signature and save as an image. Copy and paste the image on the form.)

.Submit completed form and all required documents at your branch
.Loan is processed for approval
.Loan is approved and offer is communicated to you for acceptance
.Upon receipt of the executed offer letter and your meeting the conditions, the loan is disbursed into your account and payment is made to the school
.For refinancing, evidence of payment made will be required


2. Fidelity bank Back2School loan

Fidelity bank Back2School offerings to make school resumption easy it come into different credit package:

Fidelity bank EDULOAN

Are you a school? Receive up to N10,000,000 with Eduloan, so you are prepared and equipped for the upcoming school year.

Fidelity bank FAST LOANS

Get a loan in 2 minutes or less, for all your Back2School payments like school fees, laptop, uniforms and more, via our USSD channel.

Fidelity bank SWEETA

Open a SWEETA account for your munchkin and they stand a chance to be one of over 65 kid customers to be rewarded with N150,000 school fees support quarterly.

Fidelity bank CREDIT CARD

Have 10% of your Gross annual salary at your disposal to sort out all your Back2School needs from student visa application to school fees payments and more with zero card issuance charge.


3. First City Monument Bank (FCMB)back to school loan

Whether your child is going back to school at home in Nigeria or abroad, FCMB would like to make the experience a stress free one for you.Cash crunch should not stand in the way of your child getting what they need for school. Apply for an instant loan by dialing *329#, get a Salary Plus Loan or pay back to school bills with your FCMB Credit Card.

4.Guaranty Trust Bank School Fees Advance

Gtbank School Fees Advance is a loan facility designed to finance the payment of your child’s/ward’s school fees for schools/institutions in Nigeria only. This facility is available to members of staff of public and reputable private organizations whose salaries are domiciled with the Bank.

You can get Up to N5 Million School Fees Advance. Maximum tenor of 4 months per request from gtbank.

The gtbank time loan has a Competitive interest rate. Equal monthly repayments consisting of principal and interest.Immediate access to funds for the prompt payment of your child/wards school fees.


Gtbank School Fees Advance loan amount?

The loan amount for gtbank school fees advance is N50, 000 – N1million is applicable per child.


What document is required for Gtbank School Fees Advance?

The application form, employer undertaking and school bill with details of the schools bank account.


How is the school bill paid?

The bill is paid either by a direct transfer to the schools bank account or by raising a draft in the name of the school.


5. First Bank FirstEdu Loan

First Bank’s FirstEdu loan is targets proprietors. It offers flexible funding for upgrading school facilities and meeting funding gaps pending the receipt of school fees.


It has a flexible repayment plan spread for 90 days
Access to a maximum amount of ₦10 million
The only collateral requirement is domiciliation of school fees with First Bank
The School must have been in account relationship with FirstBank for a minimum period of 6 months or 12 months with other banks
Target markets are private schools duly under CAC and their State Government
Lastly, the school population must be a minimum of 100 students

6.Federal Government Education Loan

The Nigerian government approved the establishment of education banks and student loan boards by states at concessionary interest rates to allow students easy access to funds.

Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

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Ogbeide Frank loves writing and research about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies For Advertisement, Content marketing and sponsored post: contact :
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