Education

Step-by-Step Guide To Applying For FG’s Student Loan

Published

2 years ago

Jun 13, 2023.

Details of how to apply for the Nigerian government’s student loan can be accessed on Eko Hot Blog.

Recall that President Bola Tinubu signed the Students Loan Bill into law on Monday which will enable Nigerian students to have access to interest-free loans.

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Sponsored by the outgoing Speaker of the House of Representatives, Femi Gbajabiamila, the bill was introduced in 2016 as part of measures towards addressing the funding gaps in the country’s tertiary education subsector.

With the establishment of an education bank, indigent students can access federal government loans to fund their educational pursuits or career.

How To Apply For FG Student Loan

1. The student applicants applying for loans under the Act shall apply to the Chairman of the Bank through their respective institutions upon satisfaction of the following conditions.

2. The student applicants must have secured admission into any of the Nigerian universities, polytechnics, colleges of education or any vocational school established by the Federal Government or the government of any Stale of the Federation.

3. The student applicants’ income or family income must be less than N500,000 (five hundred thousand naira) per annum.