How to Apply for Student Loan in Nigeria | A Step-by-Step Guide

How to Apply for Student Loan in Nigeria

Learn how to navigate the process of applying for a student loan in Nigeria with our comprehensive guide. Discover essential steps, requirements, and tips to secure financial aid for your education. Get informed and take the first step towards funding your academic journey.

The Federal Government Student Loan is a financial aid program meant to assist Nigerian students in meeting the costs of tertiary education. The loan is available to students who have been admitted to any public Nigerian university, polytechnic, college of education, or technical and vocational education and training (TVET) school. The loan pays for tuition, fees, and living expenses.

How to Apply for Student Loan in Nigeria

Eligibility Criteria:

To apply for the Federal Government Student Loan, you must meet the following qualifying requirements:

  • Family income of less than N500,000 per annum
  • Provide two civil servants with not less than level 12 years of service or a lawyer with at least 10 years of 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.
  • You must also not have defaulted on any previous loans or been found guilty of exam malpractice, felony, or drug offenses.

Once you meet the eligibility requirements, you can apply for the loan by submitting the necessary paperwork to your institution’s Student Affairs Office.

List of documents to submit to your institution’s Student Affairs Office:

  1. A completed application form
  2. A copy of your admission letter
  3. A copy of your JAMB result slip
  4. A copy of your WAEC/NECO result certificate
  5. A copy of your birth certificate
  6. A copy of your passport photograph
  7. A guarantor’s letter of support from each of your two guarantors
  8. A copy of your guarantors’ employment letter(s)
  9. A copy of your guarantor’s passport photographs

The Student Affairs Office of your university will assess your application and provide a recommendation to the Central Bank of Nigeria (CBN). The CBN will next determine whether or not to issue you the loan. If you are approved for the loan, the funds will be sent to your institution, which will then deposit them into your account.

How to apply for a Federal Government Student Loan in Nigeria:

Here is a step-by-step guide on how to apply for the Federal Government Student Loan in Nigeria:

  • Visit the website of the Central Bank of Nigeria (CBN) and download the student loan application form.
  • Complete the application form correctly and make sure to attach all the required document
  • Submit the application form and the correctly attached documents to the Student Affairs Office of your institution.


  • You will be required to repay the loan over a period of 10 years after the completion of your studies.
  • The law stipulates two years imprisonment or a fine of N500,000 ($650) or both for students who default in repayment, or anyone found aiding defaulters.

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