How To Get School Fees Loan In Nigeria 2021 (3 Easy Steps)

If you are thinking about how to get school fees loan in Nigeria, worry no more as I have personally carried out a lot of research about this, and here is how to easily get the loan in 3 easy steps.

While there are charities that help with school fees in Nigeria, many of these NGOS are not known by Nigerians that need them the most.

You can easily get school fees loan in Nigeria principally from LAPO microfinance bank, Stanbic IBTC bank and from Access bank of Nigeria, amongst others. 

How to get school fees loan from the above financial institutions in Nigeria easily without much hassle is what we shall be showing you presently. So make sure you read till the end.

To a very large extent, education is the key into a successful future. It is also a more fundamental truth that in Nigeria, the cost of obtaining good and quality education is fast skyrocketing, almost beyond the reach of the common man on the street.

Also Read: Best Loan Apps In Nigeria With The Lowest Interest Rates (2020)

In the midst of the rise in the general cost of education, coupled with the rise in the prices of other essential commodities in the country, the only option that is opened to many Nigerian families to stand a chance of paying their school fees is to obtain school fees loans from financial institutions.

However, we have all heard that its almost impossible to assess school fees loan in Nigeria right? But that’s not true.

Hence, in this step-by-step guide, I will show you how to get school fees loan in Nigeria without collaterals from 3 main financial institutions.

ways to obtain student loan in nigeria

If you are ready, let’s dive right into the discourse, and see how to obtain that loan fast.

How To Get School Fees Loan In Nigeria 2020

Getting education loan for school fees in Nigeria can be a little challenging to the non initiates, especially when they go to the wrong places seeking these loans.

While there are many undergraduate loans in Nigeria, its only saddening to note that many Nigerians don’t know of their existence.

My team and i have done the digging already, and it’s our pleasure to introduce you to them and the steps to follow in order to secure your undergraduate student loan in Nigeria.

How To Get School Fees Loan From LAPO Microfinance

LAPO which stands for Lift Above Poverty Organisation is the financial institution whose major objective is in the empowerment of low income families across Nigeria, by giving them easy access to credit facilities.

To easily obtain school fees loan from LAPO, these are the things that you must note to get started:

Features Of LAPO Microfinance School Fees Loan

Below are the features of the student loan from LAPO microfinance:

  • The fund to be released is not less than N15,000 and not more than N40,000 per academic term.
  • The repayment period is between 8 months to 1 year, which gives you enough time to pay with ease.
  • It comes with no collateral, which is often the thing that limits most people from assessing loans in Nigeria.
  • It also has a very low interest rate, so you don’t have to over pay for the school fees loan you collected

Documents Required

  • A completed application form for the school fees loan or student loan from LAPO
  • Means of identification in terms of a valid ID card like voters card, drivers license, etc.
  • 4 recent passport photographs
  • 1 NEPA bill, which shows your current home address
  • 2 guarantors, in case you default in paying back the loans.

Once you submit the application along with the above documents, LAPO officials will review your application and if you meet the requirements, the school fees loan will be approved and sent to you ASAP.

Note that LAPO microfinance institution is location across all the 36 states of Nigeria. To locate LAPO in your location and apply for student loan, kindly click on this link to get started.

Better still, you can leave them a message via their official email address here

How To Get School Fees Loan From Stanbic IBTC Bank

Another great place to obtain school fees loan in Nigeria is in stanbic IBTC bank, because the students loan they give is quite direct with flexible repayment plans. But how?

Features Of Stanbic IBTC bank School Fees Loan

  • The obtained school fees loan can be renewed yearly, if your last record was satisfactory.
  • It comes with flexible interest rate to suit your peculiar circumstance.
  • You can repay in 4 months, if you pay your school fees per term, or repay within a 12 months period, if your school pays yearly. These are all to your advantage.

Documents Required

To assess the school fees loan in this bank, simply head over to any branch of Stanbic IBTC bank closest to you with the following documents:

  • Your employment letter, which shows your employment status.
  • You must have been employed with your current employer for at least a period of 6 months before the application process.
  • Applications are only available for Nigerian citizens.
  • You must be earning at least N20,000 monthly in your present work place, and must not be less than 21 years of age as at the time of applying for the school fees loan.
  • You must obtain a good report from credit bureau report. To learn more about this agency, click on this link

If your application is successful, you will be contacted by the bank for the collection of your school fees loan in Nigeria. Its as easy as this.

How To Obtain School Fees Loan From Access Bank Of Nigeria

Once you understand the value of education, there will be no limit as to how far you are willing to go in order to fund your education. Hence, to obtain a student loan from Access bank, you need to get the following documents ready:

Required Documents

  • A valid ID card like international passport, PVC, Drivers licence etc.
  • The application form for the students loan which has been filled properly
  • School fees bill receipt, which should contain the full school fees to be paid
  • NEPA bill that was paid in your residence in the last 3 months.
  • Employment letter (If you are an employee) or a 1-year bank statement if you are self-employed.

For more information on this, you can visit any Access bank branch near you, and they will put you through. Once you have all these documents ready, it’s time to apply for the actual loan. Here’s how

Step By Step Guide To Get The School Fee Loan

Head over to this link to download the students school fees loan form from Access bank. Once downloaded, fill the form properly and affix your signature on it.

Scan the completed form and send it to access bank students loan email via this link including all the other documents.

Once sent, your application will be processed in a record time and if successful, you will receive an email about the success of your application.


Access bank sends the money to your schools account, while giving you the transaction slip which you will present to the school.

So you see, getting student loan from access bank in Nigeria is relatively easy.

Things To Note

You are required to repay the student loan from access bank within a period of 4 to 6 months.

The student loan comes with an interest rate of %18 and a service fee of %1 of the total cost of the loan per annum.

If you have tried the above methods and still find it hard to get the loans, how about trying out international student loans in Nigeria? A good one would be, they offer international student loan to deserving students in Nigeria.

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Eze Elekwachi

Hi, Eze Elekwachi holds an M.Sc. in Public Administration and a PhD in view. He is the brainchild behind People see him as a programmer, web developer, content developer and a seasoned e-marketer probably because he's good at what he does...

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