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

The Federal Government Student loan is a financial assistance program established by the Government of Nigeria to support eligible Nigerian students in covering the costs associated with tertiary education. In this guide, we will outline the step-by-step process for applying for student loan in Nigeria.

This loan is designed to alleviate the financial burden of tuition, fees, and living expenses for students admitted to public universities, polytechnics, colleges of education, or technical and vocational education and training (TVET) schools.

The program sets specific eligibility criteria, including income limits, guarantor requirements, and a clean academic and legal record. You may like to read Nigeria student loan requirements. The loan, if approved, is disbursed by the Central Bank of Nigeria, with repayment terms extending over a period of 10 years after the completion of the student’s studies.

Eligibility Criteria

Before diving into the application process, it’s essential to understand the eligibility criteria for the Federal Government Student Loan:

  • Family income must be less than N500,000 per annum.
  • Provide two civil servants with a minimum of level 12 years in service or a Lawyer with at least 10 years 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.
  • No history of loan default, exam malpractice, felony, or drug offenses.

How to Apply for Student Loan in Nigeria

Once you’ve confirmed your eligibility, you can proceed with the application. Here is a step-by-step guide:

1. Visit the official website of the Central Bank of Nigeria (CBN) and download the student loan application form.

2. Fill out the application form accurately. Ensure that all required information is provided, and double-check for any errors.

3. Collect the necessary documents to support your application. These include: Admission letter, JAMB result slip, WAEC/NECO result certificate, Birth certificate, Passport photograph, Guarantor’s letter of support, employment letters and passport photographs

4. Submit the completed application form and all required documents to the Student Affairs Office of your institution. Include a cover letter signed by the head of your institution (e.g., vice-chancellor, rector, or provost).

5. The Student Affairs Office will review your application and make a recommendation to the Central Bank of Nigeria (CBN).

6. The CBN will then make a decision on whether to grant you the loan based on the recommendation received.

Loan Disbursement

If your loan application is approved, the funds will be disbursed as follows:

1. The money will be paid directly to your institution.

2. Your institution will then transfer the funds to your account.

Repayment Terms

Note that repayment of the loan will commence over a period of 10 years after the completion of your studies. Failure to repay may result in penalties, including a two-year imprisonment term or a fine of N500,000 ($650), or both.


The Federal Government Student Loan in Nigeria provides a vital lifeline for students seeking higher education. By following this step-by-step guide, eligible students can run the application process and successfully access the financial support needed to pursue their academic goals. Remember, timely repayment is not only a legal obligation but also ensures the sustainability of this beneficial program.

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