How to Get a Student loan in Nigeria:12 Top Banks and their Requirement

There is nothing as heartbreaking as withdrawing a child from academic studies. get a student loan in Nigeria to enable you to raise the requisite forex for the child’s admission. this article discusses how to get student loans in Nigerian banks from primary, Secondary, and Tertiary as far as studying abroad. the bank provides loans, and the dream of reaching your goal is assured.

Top 12 Nigerian banks you can get a loan

1. Gtb bank student loan

The Guarantee Trust Bank student loan in Nigeria is designed to help students pay their fees, but they must be in Nigeria; it is not a loan to study abroad. it helps to get a student loan in Nigeria

Features of Gtb bank student loan

  • Anyone can apply for this loan
  • The interest rate is competitive
  • The parents or sponsor must have their salaries domiciled with GTB Bank.
  • Maximum of five million naira
  • Immediate access to loans with an equal monthly repayment plan.


  • Complete the application form.
  • An employer’s undertaking form
  • provision of student tuition fees and credit insurance bills
  • the parent or the sponsor’s salary account must be domiciled.

Related Topic: Top Banks That Offer business loan

2. First City Monument Bank Student Loan

In the first city, a Monument student loan in Nigeria is an ideal solution to help pay college fees and support schools in Nigeria. The loans cover over 15 million nairas for schools, tuition fees, and other support expenses. It is undoubtedly true for students aspiring to study abroad. it also helps to get a student loan in Nigeria.

Features of the first city monument loan

  • Available for both school support and abroad student
  • Available for a student pursuing a Degree program
  • Borrowers have a choice of Repayment
  • Competitive interest without origination fee
  • The loan did not cover by a scholarship or Federal loan.


For school support;

  • The school must be registered with the appropriate authority.
  •  Should have at least a hundred thousand nairas as a credit balance
  • Must be active on at least two products of the bank.
  • The school must be an active customer with the bank for six months.

For studying abroad;

  • The admission letter
  • The tuition fees bills
  • Student government-issued Id
  • Credit checks
  • A valid ID of the student’s parents or sponsor.

3. Access Bank Student Loan

The Access Bank gives a short-term student loan in Nigeria to cover student tuition fees and other expenses. It is available for nursery school through postgraduate studies. you can get student loans in Nigeria through the bank.

Feature of Access Bank student loan

  • Ensure that nothing interrupts the education process.
  • The interest rate is low, 20% per year
  • You can get up to 5 million 
  • There is an option to refinance the loan
  • The payment period is over 4-6 months.


To be able to get an Access Bank loan, you need the following;

  • .A complete loan application for
  • Your admission letter
  • Your school Tuition fees
  • A government means of Identification card
  • Tuition advice
  • A credit check
  • A letter of domiciliation of your parent or sponsor’s salary account 
  • A valid means of identification of the parent/sponsor of the student
  • BVN number.

4. First Bank FirstEdu Loan

First Bank plc gives a student loan in Nigeria called the “first loan.” This is one bank you can get a student loan in Nigeria. it provides funds to schools to help with school infrastructure and help the school issue a loan to their students with a flexible repayment plan. It targeted the proprietors.

Features of FirstEdu student loan

  • The loan given to the private schools
  • The repayment plan is for 90 days
  • The maximum amount is 10 million naira
  • the repayment of the loan is flexible
  • Absence of Collateral, but the school must domicile with the bank.


  • The school must have an account with First Bank PLC for 6-12 months
  • The school should have a CAC well-registered with the state
  • The population of the school should be up to 100 students to be qualified.

5. Fidelity Bank & Trust Student Loan

Fidelity Bank and Trust Student Loans offer education loans and refinancing options for Studen and their parent.

Fidelity Bank, in collaboration with ISL Education Lending, will offer a private loan to assist with the payment of student fees and other expenses. ISL is a non-profitable organisation.

Features of Fidelity Bank student loan

  • Lower-price loan
  • It has a multiple student loan refinance option
  • Offers free college planning tools to help students and families
  • The loan is credit approve.


  • completion of the Free Application
  • contact your school financial aid office
  • For more information visit ISL’s official site.

6. Standard Chartered Educational Loan

Standard Chartered Education Loan offers exciting rewards for those who wish to apply for an education loan

It comprises a repayment plan per month for up to six years, and you can borrow up to N10 million. And there is life insurance in case of death.

Features of the Chartered student loan

  • It has an attractive & competitive interest rate.
  • You are eligible for a maximum of 1-10 million.
  • The deferral period can be extended to 3 years or the maximum of your course duration.
  • The tenure of the loan is from 1-10 years, which is repayable on an EMI basis after the moratorium period.

for Requirements and eligibility please official site or check the nearest branch.


  • The student’s parents or Sponsor are required to provide their valid ID card
  • and a salary pays slip of at least N50,000 
  • A letter from the parent employer.

7.Stanbic IBTC Bank Student Loan

Stanbic IBTC appreciates the fundamental role education plays in transforming society; because of this, Stanbic Bank developed a product that is tailored to the needs of their customers to help them provide quality education to their children.

Features of Stanbic student loan

  • Short-term loans.
  • It will be quick and easy to get a loan.
  • And the repayment terms are so convenient
  • The loan has a low-interest rate.
  • It has a flexible repayment term.
  • The borrower has the opportunity to access a credit line up to 100% of income.
  • Stanbic IBTC Bank is another financial institution in Nigeria that offers student loans.
  • It recently launched as a way of helping students pursue their careers without hindrance. The repayment plan is flexible with low-interest rates.


  • Complete the application form.
  • A valid means of identification.
  • Tuition fee bills.
  • Student Admission letter.
  • Detailed information about the sponsors or parents.

8. Wema Bank Student Loan

Wema Bank has launched a loan scheme for students through the Education Advisory Service, in partnership with MOD Education, for young Nigerians who wish to study abroad. Wema Bank also gives loans to primary, secondary, and tertiary institutions worth 50,000 to 10,000,000 naira.

Features of Wema Bank loan

  •  With a term of 3 months for primary and secondary institutions and 12 months for tertiary institutions per request. 12 months.


  • Complete the application form.
  • The student’s Admission later.
  • Parent identification card.
  • The parent account must be domiciled.
  • Letter of introduction showing the employment status of the parents.
  • Three-month payslips of the parent or the Sponsor.
  • The student Tuition fees bills.
  • Admission letter from the student.
  • A six months statement of account of the parents.

9. Zenith Bank Student Loan in Nigeria

Zenith Bank recognizes education as one of the building blocks of any nation, which is why student loans are considered a priority. The main aim of Zenith Bank student loans is to nurture young minds and educate them so they can contribute to their development.

Recognizing the importance and relevance of education, Zenith Bank contributes to a variety of initiatives, including school funding and construction. 

Features of Zenith Bank student loan

  • The minimum amount for the loan is N100,000 to N5,000,000.
  • The Maximum tenor of 3 months for junior School and 9 months for Tertiary Institutions.
  • The student school fees will be paid directly to the school of choice.
  • Maximum tenor of 3 months (Junior School), Maximum tenor of 9 months (Tertiary Institution).


  • A Completion of Application Form
  • The Parents or the sponsor must have a salary account domiciled in Zenith Bank.
  • The child or ward must have an account with the bank.
  • The Invoice for the school and tuition fees should be presented.
  • the parent should have a valid identity card.
  • the student should also have an account with the bank.

10. Federal Education Bank Loan

The loan was established by the federal government in each state of the country to provide its citizens with financial support for education. If you qualify for federal loans, the money will be given to the school, which will disburse the money to the student. it will go towards helping you pay for the cost of the tuition fee and other expenses.


  • Every student is entitled to a loan
  • It has a flexible repayment plan and low interest.
  • learn more 
  • The requirements and amount given to students vary by state.

11. Eco Bank Student Loan

Eco Bank desired to ease the financial burdens of parents and guardians concerning the payment of their children’s school fees; this program back to School initiative to support the development of education.

Features of Ecobank loan

  • Easy fee collections
  • EcobankPay charges no fees for collection accounts.
  • Facilitate the easy payment of fees without hassles.
  • For requirements visit a nearby Ecobank.

12 UBA Student Loan

UBA is one of the banks that give student loans in Nigeria which are designed for the long term and are aimed at meeting up to working capital registered school owner loans have 3, and 4-month time loans, a 3-year asset finance loan, and a 10-year mortgage loan.


  • A short-term loan has a maximum of N5 million for 12 months of repayment.
  • Asset finance loan has a maximum of N20 million for three years of repayment.
  • The term loan has a maximum of N10 million for five years of repayment.

Requirement for the loan

  • The application letter was written by the applicant
  • Evidence of registration by regulatory bodies
  • Latter for undertaking by the business owner.

Conclusion: Here are the top banks that give student loans in Nigeria where you can get a student both studying in Nigeria or abroad, it is very good to check the nearest banks for more enquires.

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