How to Apply for a Student Loan at Ekiti State University “EKSU”

Are you looking for ways to finance your education at EKSU? Do you need urgent help with your school fees and tuition fees? This is the right guide you need to put you through. This piece will assist you on How to Apply for a Student Loan at EKSU “Ekiti State University” to help fund your academic pursuit for success.

How to Apply for a Student Loan at EKSU

What You Need to Know About EKSU and How Loans are of Benefits to their Students

Ekiti State University is a state government university in Ado Ekiti, Ekiti State. Ekiti State University is very versatile in the courses it offers to its students. The admission process is not hard as well.

Ekiti State University’s school fees lie within the range of sixty thousand naira to sixty-five thousand naira. While its acceptance fees are between fifty thousand naira to a hundred thousand naira depending on the programme of study.

Student loans are loans assigned to students with financial difficulties in school to help such students settle their financial bills in schools. It is not a scheme to put students in debt but rather it is a scheme to eradicate distractions and drop-outs from the university. Students struggling to pay their tuition fees and departmental fees as well as accommodation fees find the student loan appealing to their situation.

There will be fewer dropouts if students have the knowledge that there is a student loan and that they can apply for such loans. This is just one of the benefits of using a student loan to finance your education. The other benefits are summarized below.

  • Students tend to face distractions with side jobs and the side hustle they do when they can’t pay their bills. However, through student loans, students can drop the side hustles and pay more attention to their studies. This will skyrocket their progress in their academics.
  • One of the most important benefits is the reduced interest rate when collecting a student loan. In comparison to other types of loans that take a high percentage of interest rate, students enjoy the benefits of reduced interest loans.
  • Also, the student can continue applying for loans with every academic session.

What Type of Loans can EKSU Students Apply for in Nigeria

It is unfortunate that Ekiti State University does not have a system where students can apply for loans. But there are other places in Nigeria that support student loans. These places include Banks and government organizations as well as financial aid for students institutions.

The Banks that provide loans for students include Access Bank, Keystone Bank, Heritage Bank, and Microfinance Bank.

Another financial aid where you can apply for a student grant as an EKSU student is FAFSA.

Eligibility Requirements to Apply for a Loan as an EKSU Student

In order to apply for a loan you have to first be eligible for the student loan or financial aid. It is after that you can now consider applying for a student loan.

  • Must not be a defaulter at previous loans.
  • Must have a clean record of drugs
  • Must not be found in any cultism association.
  • Must be a legitimate student of ABUAD.
  • Must have a working academic progress that shows excellence.

Documents Required to Apply for Loan as an EKSU Student

These are the required documents a student must bring along or use when applying for a student loan:

  • Guarantors letter
  • Student’s ABUAD admission letter.
  • Passport of the student and guarantors.
  • Financial status of the guarantor and student applying for the loan.
  • Photograph of guarantors.
  • Personal information of guarantors and the student applying for the loan.

Loan Application Process

Below are the steps you can use to create an account, a username, a password, and a FAFSA PIN for a student loan.

  • Click on their websites via the pin: www.studentaid.ed.gov
  • Create a username and set a password you can easily remember.
  • Enter all the personal information required
  • Enter your FSA pin if you have or create a new one.
  • Confirm your information and click on accept terms and conditions.
  • Confirm your email address with the code that you will get.

After you are done with this process you can now process to apply for your Financial Aid Loan.

Alternatives to Loans 

  • Federal Direct loans:

This is of two types. Subsidized and unsubsidized direct loans.

  • Private Students Loans
  • Federal Parent plus loans

Other alternatives for ABUAD student loans are scholarships. There are various bodies or organizations that offer scholarships to students in Nigeria today no matter the education level. These are some of such organizations and their scholarships;

  • NTLG Undergraduate Scholarship
  • MTNF Science and Technology Scholarship Scheme
  • LNG Scholarship Scheme
  • TY Dunjuma MBA Scholarship

Conclusion

Finally, you no longer have to worry about your financial struggles all through your days at Ekiti State University. It’s either you apply for a student loan or try your luck with a scholarship.

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