Student loans offer financial support for students who would otherwise be unable to attend college. You do not need a credit history to receive a student loan. Student loans often have lower interest rates than private loans.
Just like every other thing that attracts huge interest, education doesn’t come cheap. As such, there are now platforms where you can get a student loan in Nigeria to finance your schooling, This post will provide you with full details on the bet banks for students loan in Nigeria and everything you need to know about a student loan.
What Is a Student Loan?
A student loan is a lump sum of money that a student receives from the federal government, their state government, or a private company, which they can use toward tuition or other school expenses. However, they must pay that money back after graduation, plus interest.
In addition to scholarships, grants, and work-study programs, many learners use student loans to fund their education. Student loans can be a helpful tool if you use them responsibly. Student Loan Hero reports that 69% of students in the class of 2019 took out loans to cover college expenses.
Banks That Offers Students Loans In Nigeria
Below are the list of the Nigerian banks that offers students loan effectively;
- Access Bank
- GT Bank
- First Bank
- Education Bank Loan
- Guarantee Bank Student loans
The Types of Students Loan
- Loans from Federal Government
- Loans From Loans Board
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The Types Of federal Students Loan
There are four types of federal student loans available Which are:
- Direct subsidized loans
- Direct unsubsidized loans
- Direct PLUS loans
- Direct consolidation loans
Students Loan Requirements
- Acceptance letter
- Proof of Academic Results
- Proof of Costs
- FICA Documents
Best Loan Apps For Student
- Fair Money App
- Branch Loan App
- Aella Credit App
- Pay later Loan App
- Okash
- Quickbuck
- Kwik Money
- Ren Money
- Palm Credit
- Credit Ville
- Kiakia Loan
