Requirements For FG Student Loan

The Federal Government of Nigeria has introduced a student loan initiative to support Nigerian students in accessing higher education without financial hurdles.

This program is a beacon of hope for many, providing interest-free loans that can cover tuition fees and living expenses.

Here’s what you need to know about the eligibility criteria and application process.

Eligibility Criteria

The FG Student Loan program is designed to provide financial support to Nigerian students who aspire to pursue higher education.

To ensure that this aid reaches those who need it most, the program has set forth specific eligibility criteria that applicants must meet.

Admission Requirements

  • Institution Type: Applicants must have secured admission into any public Nigerian University, Polytechnic, College of Education, or any Technical and Vocational Education and Training (TVET) school.
  • Program Level: The loan is available for undergraduate and postgraduate studies, provided the Federal government recognizes the institution.

Financial Threshold

  • Income Limit: The applicant’s or family’s income must be at most N500,000 annually. This condition ensures that the loan is allocated to students from lower-income families who might otherwise be unable to afford higher education.

Guarantor Requirements

  • Civil Servants: Applicants can provide at least two civil servants as guarantors, who must be not less than level 12 and have at least 12 years of service
  • Legal Professionals: A Lawyer with at least ten years post-call experience can also be a guarantor
  • Judicial Officers: Applicants may also present a Judicial officer or a Justice of Peace as guarantors

Additional Considerations

  • Academic Standing: Applicants should have good academic standing and no academic probation or suspension record due to poor performance.
    Community Service: Community service or extracurricular activities may be considered an added advantage, reflecting the applicant’s commitment to societal development.


While the FG Student Loan aims to be inclusive, there are specific conditions under which students may be excluded from receiving financial aid. Understanding these exclusions is crucial for applicants to meet all the necessary criteria.

Previous Loan Defaulters

Students who have previously defaulted on any loan granted by any organization will be ineligible for the FG Student Loan. This measure ensures that the funds are allocated to responsible borrowers likely to repay the loan according to the agreed terms.

Academic Integrity

The program strongly opposes academic dishonesty. Students guilty of examination malpractice or academic fraud will not be considered for the loan. This exclusion reinforces the importance of integrity within the educational system.

Criminal Convictions

Students convicted of a felony or any offense involving dishonesty or fraud are also disqualified from accessing the loan. This criterion is set to maintain the trust and integrity of the loan program.

Parental Financial Responsibility

The financial history of an applicant’s parents is also taken into account. Students with parents who have defaulted on previous loans will not be considered for the FG Student Loan. This requirement emphasizes the role of parental responsibility in financial matters.

Application Process

The application process for the FG Student Loan is designed to be straightforward and accessible:

  1. Registration: Start by registering on the Student Loan Application Platform.
  2. Loan Application: After registration, proceed to your student loan application, where you can select either tuition/institutional fee, upkeep, or both.
  3. Documentation: Prepare all necessary documents, including proof of admission and income and guarantor details.
  4. Institutional Endorsement: Submit your application through your institution’s Students Affairs Office. The application must include a list of all qualified applicants from the institution accompanied by a cover letter signed by the institution’s head.
  5. Approval and Disbursement: Once your application is approved, the loan will be disbursed into your school account.

Repayment Terms

The repayment terms are designed to give graduates a grace period before they start repaying the loan:

  1. Repayment Commencement: Repayment begins two years after completing the National Youth Service Corps (NYSC) program.
  2. Salary Deduction: If employed, your employer will deduct 10% of your salary at source.
  3. Self-Employed Repayment: If self-employed, you must remit 10% of your total profit monthly to the student loan account prescribed by the bank.
  4. Information Submission: Self-employed individuals must submit business and personal information to the Commission within 60 days of assuming that status.


The FG Student Loan is a significant step towards making education accessible to all eligible Nigerians.

By understanding the requirements and following the application process, students can take advantage of this opportunity to invest in their future without the burden of financial stress.