Do you want to know how to get a study abroad loan in Nigeria? Then you are on the right page.
The cost of tuition and housing at most universities is usually a fraction of the total cost. The rest usually comprises housing, books, food, and general and application fees. However, this doesn’t always mean you must break the bank to attend college.
There are many financial aid opportunities available to help students fund their education. This article will explain different ways you can support your study abroad program and the requirements to get a loan for studying abroad.
There are many financial aid opportunities available for students wishing to study abroad. These include institutional grants, state grants, and loans from various sources.
The sources may be local or regional such as a state department or university department, or national such as an organization that accepts applications from all over the country, such as the Federal National Education Loan program (Federally funded lender).
Each student’s situation is unique, so it’s essential to research the different programs within your area before applying for any of them. Here are some of the best study-abroad loans in Nigeria.
>>See This: Top Companies That Offer Loan To International Students In Nigeria
Table of Contents
Best Study Abroad Loan in Nigeria
Here is the list of the Best Study Abroad Loan in Nigeria
Global Students Loan Cooperation
Global Students Loan Partnership (GSLP) is a partnership between the governments of Australia, Brazil, Canada, the United Kingdom, and the United States, along with foundations and other organizations in more than 20 countries, to help make education more accessible for students from developing countries.
If you are a developing country citizen, you may be eligible for a loan through the GSLP program. GSLB partners with universities in the U.S. and Canada and organizations in Brazil, India, and the United Kingdom to provide loans to students from developing countries.
Students from Brazil, India, Nigeria, and the United Kingdom can take out loans directly from their countries.
Prodigy Finance is one of the fastest-growing companies in the world. They offer a wide variety of loan options and are open to applicants from all over the world. They have various loan options, including loans specifically designed for students studying abroad or applying to study abroad.
Prodigy Finance is a peer-to-peer lending platform, meaning you can apply for a loan and be matched with a lender based on your circumstances. Once matched with a lender, you can choose how much you want to borrow and how long you want the loan to last.
Once you have completed the application process and your lender has approved your loan, you can start repaying your loan as soon as you receive the funds.
Check out: 9 Things You Should Know Before Studying Abroad
Future Finance is another online lending company that students can use to apply for a study abroad loan. Future Finance is a peer-to-peer lending platform and one of the great study-abroad loans in Nigeria.
Students can apply for a loan, be matched with a lender, and repay the loan the same way they would repay a standard loan. Students at all levels of education can use Future Finance to apply for a loan.
Future Finance has various loan options, including a loan specifically designed for those studying abroad. They also have options explicitly designed for students currently studying or graduating from a medical or dental program.
Nomad Credit is a company that was started by a group of students who were studying abroad. They wanted to create a company to help other students studying abroad get the financial assistance they needed to complete their studies.
They offer a wide variety of different kinds of loan options, including a study abroad loan. To apply for a loan through Nomad, you must apply and get approved through one of their lenders.
Once approved, you can find a suitable loan that meets your needs. Nomad offers various types of loans, including a study abroad loan, so you will find one that works well for your situation.
See also: Best Jobs for Scholarship Students Studying Abroad.
International Education Financial Aid is a non-profit organization that offers financial assistance to students studying abroad. IEFS is currently partnered with over 80 different institutions in 22 other countries.
They offer a wide variety of different kinds of financial assistance, including a study abroad loan in Nigeria. To apply for a loan through IEFS, you must apply and get approved through one of their lenders.
Once approved, you can find a suitable loan that meets your needs. IEFS offers various types of loans, including a study abroad loan, so you will find one that works well for your situation.
Scholarships And Grants
Scholarships and grants are funds you do not have to pay back, but they may have other requirements that must be met. Some universities also offer institutional grants and financial aid you do not have to repay.
You must apply for all the financial aid opportunities you qualify to help make your education more affordable. You may also find other sources of funding to help pay for your education.
Read also: 4 Best Scholarships for Indian Students to Study Abroad
Conclusion On Study Abroad Loan in Nigeria
For most people, a college education is one of the most important investments they will make in their lifetime.
By planning and applying for scholarships and grants, you can help reduce your out-of-pocket expenses and focus on your education rather than how much money you owe.
I hope this article on study abroad loans in Nigeria was helpful to you. Please share with others if you find it helpful.
Can I get a student loan in Nigeria to study abroad?
Most Nigerian students need a cosigner to apply for an international student loan. The cosigner must be a US citizen or permanent resident, with good credit who has lived in the USA for the past 2 years. Learn more about how to find a cosigner.
How much student loans am I eligible for if I want to study in the UK?
In the UK, you can borrow up to £45 lacs for higher education with a 15-year repayment schedule. Since unsecured loans are typically provided by private banks or NBFCs, full or partial simple interest must be paid during the moratorium period.
How can I loan money to study abroad?
You can get a student loan from the government or a private bank; it can be a bank from your home country or a foreign bank, in the country you wish to pursue your studies.
How does a Nigerian obtain a loan for UK study?
Service for Advisory on Education
The applicant’s tuition, living costs, and other out-of-country study-related expenses are all covered by the EAS loan. Remember that the bank will pay all these expenses to your chosen institution. The EAS loan covers only the UK, USA, Canada, Australia, and Ireland.
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