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How to apply for FG’s student loan

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How to apply for FG’s student loan

On Monday, June 12, 2023, the President, Bola Tinubu, signed into law the Student Loan Bill. The bill, which will enable Nigerian students to have access to interest-free loans, was introduced by the outgoing speaker of the House of Representatives, Femi Gbajabiamila.

The PUNCH reported that the piece of legislation passed second reading at the lower house on May 23, 2023.

With the establishment of an education bank, tertiary institutions owned by the Federal Government may now be at liberty to introduce tuition fees, experts in the higher education sector have argued.

Already, some universities owned by the Federal Government have started announcing an increase in tuition fees. For instance, The PUNCH in December 2022 exclusively reported how some Federal Government-owned universities announced a 200 per cent hike in fees. It is believed that the introduction of the education bank will help address the funding gap in tertiary institutions.

According to the bill, which was sighted by our correspondent on Monday, students applying for loans under this Act must apply to the Chairman of the Bank through their respective institutions upon satisfying of the following conditions:

i. Student must have secured admission into any public Nigerian University, Polytechnic, college of education or any TVET school; Applicant income or family income must be less than N500,000 per annum; Applicant must provide at least two civil servants as guarantors: of not less than level 12 years in service; or a Lawyer with at least 10 years post-call experience; a Judicial officer; or a Justice of Peace.

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ii. Students who have defaulted on previous loans; found guilty of exam malpractice, felony, or drug offences will not be considered.

iii. Students with parents who have defaulted in respect of previous loans will not be considered.

Following the satisfaction of the conditions listed above, applications for the loans will be submitted through the Students Affairs Office of each institution via a list of all qualified applicants from the institution accompanied by a cover letter signed by the Vice-Chancellor or Rector or the head of the institution and the Student Affairs.

On the repayment, the act states that “Any beneficiary of the loan to which this Act refers shall commence repayment two years after completion of the National Youth Service Corps programme. Repayment shall be by direct deduction of 10 per cent of the beneficiary’s salary at source by the employer.

“Where the beneficiary is self-employed, he shall remit 10 per cent of his total profit monthly to the student loan account to be prescribed by the bank.

“For the purpose of sub-section 3 above, a self-employed person shall, within 60 days of assuming that status, submit all information such as the name of business, address and location, registration documents, registered, name of bankers, names of partners, name of directors and shareholders to the Commission.

“Anyone in default of the provisions of sub-section 4 above or found to be aiding the default of any of the provisions of this Act is guilty of an offence and, if convicted, shall be liable to imprisonment for two years or a fine of N500,000 or both.”

How to apply for FG’s student loan

Education

US University opens 2025 scholarships for international students

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US University opens 2025 scholarships for international students

Montana Technological University (Montana Tech) has opened applications for its 2025 scholarships, offering international students the opportunity to pursue graduate studies in the USA.

These scholarships, available for both Master’s (MS) and PhD students, provide a tuition waiver and a competitive stipend for living expenses.

Scholarship overview and opportunities 

Scholarship Region reports that Montana Technological University is offering funded Graduate Research Assistantships (GRAs) for Fall 2025. These assistantships are available for students applying to the MS and PhD programs, and they provide an opportunity to work alongside faculty on important research projects.

The university is focusing on key research areas such as advanced materials and manufacturing, critical mineral recovery and processing, environmental remediation, and biotechnology. Interested applicants are encouraged to apply soon to contribute to these cutting-edge fields.

Eligibility requirements 

To apply for the Montana Tech University Scholarship 2025, candidates must meet several criteria.

  • Applicants should have completed a bachelor’s degree from a recognized university.
  • They must also meet the admission requirements for the program they wish to apply to and satisfy the English language proficiency requirements set by the university.
  • Additionally, applicants must submit their applications for admission by January 1st to be considered for the scholarship.

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Benefits for scholarship winners 

Students who are accepted into the MS or PhD programs at Montana Tech and are awarded a Graduate Research Assistantship will receive significant benefits. These include a

  • Tuition waiver and a competitive stipend to cover living expenses.
  • All applicants to available graduate programs will automatically be considered for the assistantships.

Required documents for application 

Details inform that candidates applying for the Montana Technological University Scholarship must prepare several documents as part of the application process. Required documents include the;

  • Application form,
  • A personal statement,
  • A CV, recommendation letters,
  • TOEFL or IELTS scores, GRE scores, and official academic transcripts.

These documents as mentioned, are crucial for the admissions review and scholarship consideration.

Step-by-step application process 

To apply for the scholarship, candidates are informed to first visit the graduate research fields page on Montana Tech’s Graduate School website. From there, they can apply for openings in the available research areas and complete the application form.

All required documents must be uploaded as part of the application. For more details and guidance, prospective students can contact the Montana Tech Graduate School at [email protected], where they will be connected with a faculty member leading a funded project.

 

US University opens 2025 scholarships for international students

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Canadian university offers funded national scholarship program for 2025

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Canadian university offers funded national scholarship program for 2025

Western University has announced that applications are now open for the National Scholarship Program for the 2025-2026 academic year.

The opportunity offers funding to outstanding students with a proven track record of academic excellence, leadership, and community involvement.

According to Western University, the deadline for applications is February 14th, 2025.

Details of the program and eligibility 

The National Scholarship Program is aimed at Canadian citizens and permanent residents, as well as international students meeting specific criteria. International students who are not Canadian citizens or permanent residents are eligible for the International President’s Entrance Scholarship.

Details inform that applicants must have an overall academic average of 90% or higher from their Grade 12 courses (or equivalent) and must apply for full-time studies at Western University’s main campus. Students must also be nominated by their high school.

Scholarship opportunities and amounts 

The program offers various scholarship opportunities based on academic achievement and extracurricular involvement.

  • The Neen Hodgins National Entrance Scholarship awards $80,000 over four years, while,
  • President’s Entrance Scholarships range from $50,000 to $70,000, depending on the amount of funding available.
  • For black students, the James Jenkins President’s Entrance Scholarship offers $50,000, and the Beryl Ivey Continuing Entrance Scholarship provides $92,000 over four years.

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International students have access to scholarships such as the Neen Hodgins President’s International Entrance Scholarship, valued at up to $80,000. Other awards include the Faculty Entrance Scholarships, valued at $30,000, and the National Merit Awards, which provide $2,000 for students who are interviewed but not selected for a National Scholarship or a Schulich Leader Scholarship.

Application requirements 

Applicants must submit a variety of materials, including a completed online application, a transcript from their school, and a reference letter from a teacher or staff member who is familiar with their academic and extracurricular achievements.

Additionally, applicants are required to write a 1,000-1,250 word essay on an issue of public concern. The essay, along with other supporting documents, must be submitted by the February 14th, 2025, deadline.

Nomination and assessor process 

The institution informs that in order to be considered for the National Scholarship Program, students must be nominated by their school. The application includes a “Nomination Request Form,” which is sent to the school administrator once completed.

Students are told to ensure that they follow up with their school to confirm that their nomination and transcript are submitted on time. Additionally, students must request one reference letter from a teacher or staff member who can assess their academic performance and involvement in extracurricular activities.

How to apply 

To apply, students need to access the National Scholarship application through the online portal, using their OUAC reference number and date of birth.

  • Western University advises that there may be a delay between submitting the admission application and being able to access the scholarship application, with a minimum wait time of five business days.
  • Once available, students can complete the application and submit all required documents before the assigned deadline.

For further details on how to apply, visit the Western University National Scholarship application portal.

 

Canadian university offers funded national scholarship program for 2025

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Student loan: More applicants hopeful as NELFUND credits accounts

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Managing Director of NELFUND, Akintunde Sawyerr

Student loan: More applicants hopeful as NELFUND credits accounts

More students across several tertiary institutions in Nigeria are optimistic of benefiting from the next batch of disbursements of the Nigerian Education Loan Fund (NELFUND), Weekend Trust gathered.

The NELFUND, established by the Students Loan Act 2023 is managed and administered by the Central Bank of Nigeria (CBN) through the money deposit banks. It aims to facilitate the mobilisation of funds to provide interest-free loans to students of tertiary institutions.

Beneficiaries are expected to begin a repayment process of 10% of their salary to be deducted at source two years after the completion of the National Youth Service Corps (NYSC), while self-employed beneficiaries are required to remit the same of their monthly profit.

Established by the President Bola Ahmed Tinubu administration as a means of providing financial support to students for tertiary education, the management of NELFUND said it has so far disbursed N11,047,793,949.80 billion to 105,764 beneficiaries across 98 federal and state tertiary institutions.

The disbursement of funds is made directly to the institutions bank accounts while successful applicants are entitled to a monthly stipend of N20,000 for upkeep if they so wish.

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Weekend Trust reports that in August, the NELFUND had released data that showed significant regional disparities in the registration, application and disbursement of funds with the South-east recording the lowest figure.

Netizens on X had accused NELFUND of neglecting universities in the South-east but the Fund refuted the claim, saying the management of tertiary institutions in the South-east had failed to respond to verification requests forwarded to them.

North-west leads in disbursement, South-west in institutions

The latest data released by NELFUND on November 7, shows that the South-west has the highest number of beneficiary institutions with 27 currently getting disbursements. This is followed by the North-west which has 18 institutions while the North-east has 16 and the South-south has 15 institutions. The North-central and South-east have 11 institutions each.

On the number of students by zone, the North-west has the highest number of students with 43,378 followed by North-east with 28, 782 and the South-west with 12,539. The North-central has 11,555 beneficiaries while the South-south has 5,837 and South-east has 4,073.

The breakdown of the funding by zones, also shows that the highest of N4,424,024,250 billion was paid to the 18 institutions in the North-west, followed by the16 institutions in the North-east which got N2,544,223,937 billion, then the 27 institutions in the South-west received N1,842,876,713billion. The 11 institutions in the North-central got N1,099,808,700 billion, while the15 in the South-south got N597,250,030 million and the 11 institutions in the South-east received 539,610,320 million.

 

Student loan: More applicants hopeful as NELFUND credits accounts

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