Educational Loans For Students, Parents – Loanhub.com.ng

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Educational Loans For Students, Parents – Loanhub.com.ng

EDUCATION LOANS

Educational Loans For Students, Parents

In Nigeria, it’s about the Hardest thing to get Educational Loans in Nigeria. With the school resumption around the corner, parents are finding it hard to pay the fees, With the biting Economic realities, parents are at the risk of having their kids sent home.

EDUCATION LOANS

To prevent this, LAPO Microfinance Ltd has rolled out Educational Loans for Parents and Students.

According to the official website of LAPO Microfinance Bank, the Educational Loan is designed strictly for paying school fees for students in the primary and secondary school only. It is designed to ease the cash flow of clients. While this service is only available to LAPO Microfinance Bank customers, it can be accessed by clients who are members of a group (Union, Corporate societies).

FEATURES 

  • Facility range: N15,000 (minimum) to N40,000 (maximum)
  • Methodology: Group
  • Duration: 8 months
  • Grace period: 1 month

DOCUMENTATION REQUIRED 

  •   Loan application letter
  •     Duly completed application form
  •     2 Guarantors
  •     A valid means of ID (national ID, driver’s license, voter’s card or  international passport)
  •     Current utility bill
  •     4 recent passport-size photographs

BENEFITS:

  • No collateral
  • Access to funds for the prompt payment of children’s school-related expenses.
  • Flexible repayment structure
  • Low-interest rate

FREQUENTLY ASKED QUESTIONED 

1. Q: Can I take an education loan to finance the school fees of a child schooling abroad?
    A: No. Education loan is strictly for children schooling in Nigeria.

2. Q: Does education loan cover students in higher institutions?
    A: No

 

READ ALSO:- How to Get First Edu Loans From First Bank Nigeria.

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