Companies That Offer Study Loan Abroad.

Pursuing higher education abroad is a dream for many Nigerian students, but financial constraints often pose significant challenges. Fortunately, several institutions offer study loans tailored to support Nigerian students in achieving their academic aspirations overseas. Below is a curated list of reputable organizations providing such financial assistance:

1. StudyLoan Nigeria

StudyLoan Nigeria is a consultancy firm dedicated to assisting Nigerian students in financing their education abroad. They offer flexible and affordable loans covering tuition, fees, and living expenses, with competitive interest rates and customizable repayment terms. Additionally, they provide scholarships and services like visa and travel assistance, as well as job placement support. 

2. Wema Bank

In partnership with MOD Education, Wema Bank has introduced an overseas study advisory and loan scheme aimed at alleviating the foreign exchange challenges parents and guardians face when paying tuition fees for students studying abroad. This initiative is designed to make quality international education more accessible to Nigerian students. 

3. gomoney

gomoney, a digital bank, has launched flexible student loans in collaboration with selected institutions in Canada and the USA. These loans are available to Nigerian students both residing in Nigeria and those already studying abroad, offering a seamless application process and competitive interest rates. 

4. The Education Advisory Service (EAS)

EAS is a collaborative effort between MOD Group and First City Monument Bank (FCMB), providing Nigerian students with loans, counseling, and assistance in securing admissions, accommodations, and travel arrangements. The EAS loan covers tuition fees, living expenses, and other study-related costs for destinations including the UK, USA, Canada, Australia, and Ireland. 

5. Mpower Finance

Mpower Finance specializes in removing financial barriers for international students. They offer loans that can be used for tuition, books, housing, and health insurance. Eligible Nigerian students admitted to approved universities in the US and Canada can borrow up to $100,000, with fixed interest rates and a ten-year repayment term commencing six months post-graduation. 

6. Prodigy Finance

Prodigy Finance provides loans without requiring collateral or co-signers, covering all educational expenses, including tuition and living costs. They support postgraduate programs in fields such as business, public policy, law, medicine, and STEM. Repayment periods extend up to 20 years, with payments starting six months after course completion. 

7. Lendwise

Lendwise is a UK-based institution regulated by the UK's Financial Conduct Authority, offering loans to students pursuing graduate degrees at top universities. They provide competitive fixed interest rates, with loan amounts up to £100,000 and no requirement for a guarantor. Repayments commence after graduation, allowing students to focus on their studies. 

8. Learning Questa

Learning Questa, an educational consultancy firm in Lagos, has partnered with global financing companies to offer study loans to Nigerian students aiming to pursue master's degrees in STEM and MBA programs in the US and Canada. These loans come with low interest rates, no collateral or co-signers required, and flexible repayment plans of up to 10 years. 

When considering a study loan, it's essential to thoroughly research each option, understand the terms and conditions, and assess your repayment capabilities. Consulting with financial advisors or representatives from these institutions can provide personalized guidance tailored to your specific needs and circumstances.