How to Apply for a Student Loan at University of Benin “UNIBEN”

This article is for students of the University of Benin who are looking to apply for a loan to support their finances. In today’s post, you will be getting first-hand information on How to Apply for a Student Loan at UNIBEN “University of Benin”.

How to Apply for a Student Loan at UNIBEN

As a student, it is normal to run out of finances. Also, there are times when your sponsors be it your parents or guardians may not have the money to foot your bills. If you feel you need a loan, then this article will be your guide.

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

The University of Benin is a federal institution located in Benin City, Edo State. The institution was established in 1970 and has since made its mark since then in the educational sector. The university attracts students from all around Nigeria with its beautiful scenery as well as quality educational standards.

As a federal university, it is not as expensive as state or private universities. However, there are still students who find it hard to pay their fees due to different factors. The school has had a recent increase in school fees. As such, while freshers are to pay 115,000 for science and 105,000 for non-science students, returning students are to pay 60,500 for science and 56,500 for non-science.

What Type of Loans Can UNIBEN Students Apply for in Nigeria

As a student of UNIBEN, you can apply for federal government loans. One such loan is the Student Loan which was introduced in 2023. Federal government loans come with minimum interest rates as well as long repayment periods. Also, you could apply for a loan from your indigenous state.

You can also apply for loans from a bank or Microfinance bank like the LAPO agency. These facilities usually have loans for students as well as saving plans. There are also private lenders around the country who are willing to grant you a loan as a UNIBEN student.

Eligibility Requirement to Apply for Loan as a UNIBEN Student

The eligibility depends on what loan facility you are using. For a federal government loan, it is important that you are a public student like a student of UNIBEN. Also, you will need to be a Nigerian citizen, have good grades in school and be free of any examination malpractice charges.

The same can be said for banks and microfinance outlets. However, private lenders can be a little bit more flexible in their eligibility requirements. Above all, all outlets demand that you demonstrate financial need as well as have a guarantor in order to be able to apply for a loan.

Documents Required for the UNIBEN Student Loan Application Process

Each outlet has its required documents. These are however the important documents that you must have in place in order to apply for a loan;

  • Valid means of identification
  • Guarantor’s letter as well as a statement of employability
  • Bank details of the applicant as well as that of the guarantor
  • A reference letter from a UNIBEN lecturer
  • Proof of enrolment at UNIBEN
  • Passport photographs

Loan Application Process for UNIBEN Students

The application process is quite easy. Visit the office or website of the loan outlet you want, fill in the application form and submit it alongside the required documents. Afterwards, you wait as your loan status will be updated and your loan will be granted to you if you fulfil the requirements and if they have funds to disburse.

Alternatives to Loans for UNIBEN Students

If you do not wish to take a loan or your loan application is denied, you can try to work a part-time job. Also, you could start a small business online or offline as well as apply for federal government scholarships and grants. There are also scholarship programmes funded by NGOs and private firms that you can try out.


The information above should help you with how to apply for a loan as well as loan alternatives as a UNIBEN student.

Also, Check Out;