How to Apply for a Student Loan at Renaissance University “RUN”

As a university student, sometimes finances can be hard to come by. If you are looking to get a loan, then this article will be of help to you. If you are a RUN student, then this article is a guide on How to Apply for a Student Loan at Renaissance University (RUN).

How to Apply for a Student Loan at RUN

There are a lot of things that you need money for as a student. A lot of times, the economy might not be favourable to your sponsors and the thought of applying for a loan might come to mind. This article will help you with the kind of loans you can apply for as well as how to go about it.

What You Need to Know About RENAISSANCE UNIVERSITY and How Loans is of Benefit to Their Students

The university is a private university and it was licensed by the federal government of Nigeria in 2005. The university’s location is in Enugu State and it has its main campus in Ugbawka. The university has three colleges as well as a good number of departments under these colleges. The university boasts a diverse student population from different cultural and religious backgrounds.

As a private university, it receives little to no funding from the federal government. As such, the tuition fee is a bit on the expensive side. The school fees estimate of Renaissance University is between N300,000 to N400,000. The university has a serene and beautiful environment comfortable for student’s learning. Also, the Jamb cut-off mark is at 120 so it is easy to gain admission into the institution.

Loans can be of benefit to students of Renaissance University because the school fees are expensive. In a situation where a tinder will also have to pay for accommodation, feeding, materials as well as other dues and is on a financial deadline, a loan can bail him or her out. Also, a student loan can help parents or sponsors relax a little and not worry about their child dropping out of school because of money.

What Type of Loans can RUN Students Apply for in Nigeria

As a student of Renaissance University, there are certain loans that you can apply for.

  1. Federal Government Loans

The federal government of Nigeria has provisions for student loans. However, it is not all of these loans can be accessed as some are strictly for Public Students. The Federal Government Education Loan is among the loans that you can apply for. There are education banks and student loans established for the purpose of financing students with loans at low-interest rates.

  1. Private Lenders

You can also borrow loans from private loan facilities. There are a lot of them around the country ready to disburse funds to those in need of money. You should take into account that their interest rates might be higher than federal government loans.

  1. Microfinance Bank Loans

There are microfinance banks like LAPO as well as others who give loans to students. They come with terms and conditions and you are to be a member of the agency before you can apply for a loan.

  1. State Government Loans

The government of a state usually has provisions for loans for university sixth-year students. You can check with your indigenous state to know if you are eligible to apply for a loan.

  1. Mobile Loans

These days, mobile loans are common among students in Nigeria. There are a good number of legit mobile banks that offer loans to students as well as business people.

Eligibility Requirements to Apply for Loan as a RUN Student

The requirements vary depending on the loan facility you decide to apply with. For federal government as well as state government loans, it is necessary that you show proof of your enrollment at Renaissance University.

Also, you must be a Nigerian citizen or an indigene of the state as well as have a good academic record. Bank loans require a guarantor and collateral in order to be eligible. Private loans are usually more flexible than the rest. In all, you must demonstrate financial need as well as meet any other requirements as stipulated by the loan facility.

Documents Required for the RUN Student Loan Application Process

The required documents may vary depending on the facility you choose to use. However, these are the documents to keep in mind;

  1. Passport photographs
  2. A valid identification card
  3. Bank details of the applicant
  4. The guarantor’s letter as well as the work status of the guarantor
  5. A reference letter or two from a lecturer or professor at Renaissance University
  6. Copies of the applicant’s academic transcripts
  7. Birth certificate in most cases

Other documents may be required depending on what agency you choose to apply from. You must be ready to provide all the needed documents as listed above and as required from you.

Loan Application Process for RUN Students

The application process is quite easy. After getting your documents ready, visit the office or the website of your loan agency. Fill in the form with the correct information and submit your application.

If you are visiting the office, you will need to go with your guarantor. After your application has been cross-checked and you fulfil all requirements, then your application status will be updated.

Alternatives to Loans for RUN Students

If as a student of Renaissance University, you do not want to apply for a loan or your application does not work out, you can try any of the following;

  1. Work part-time as a student in the school environment
  2. Start a small business either online or offline
  3. Apply for scholarships as well as garnet


The information above will guide you through your loan application process as a Renaissance University student. Also, you can decide to follow any of the alternatives if your loan application does not work out.

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