Many Nigerians come to the United States as international students to earn their undergraduate or graduate degree. This is not an easy process especially as the cost of school fees for an international education in the U.S. can be quite expensive – and continues to rise year after year, as well as the lack of education loan givers in Nigeria.

The same can be said for those international students wishing to study at a university in Canada.

Study Abroad Loans for Nigerian Students

One option to help international students afford their education is a student loan which can cover up to the total cost of your education minus any financial aid received. The loan amount must be certified by your school.

Find out about the Private Student Loan Application Process for International Students.

How To Get An International Student Loan

International Student Loans for Nigerian Students

If you want to study abroad you may have already realized that the cost of studying in the U.S. could be an issue for any international student. For private colleges, school fees can be as high at US$75,000 a year and for public schools it's around US$50,000 annually. Federal loans are popular among U.S. based students but they aren't available to foreign citizens - instead they can apply for an International Student Loan.

If you're from Nigeria and are interested in an international student loan to study in the U.S. or Canada, don't waste time searching all of the loan sites for students in Nigeria – start your research with our Student Loan comparison tool that will match you with a list of lenders specific to your school.

  • Choose your citizenship and school, and click “Compare Student Loans”
  • Review your list of lenders and compare terms
  • Select the student loan that meets your needs and start the online application

Our student loan comparison tool allows you to compare basic terms and choose the loan that's right for you. Then, apply online and get initial approval within weeks!

Tip

Make sure to research your lenders before applying in order to find the loan that best suits your needs. Compare interest rates, repayment options and enrollment requirements before choosing a lender.

Eligibility

To qualify for a loan international students must attend an eligible school in the U.S. or Canada. You must also be enrolled as an undergraduate or graduate student and pursue a degree, certificate, or license.

Find all Eligible Schools for International Student Loans in Canada.

Co-Signer Required for Most Applicants

The majority of students will require a cosigner, the cosigner needs to be a permanent resident or a U.S. citizen who has a good income history, good credit rating, and has lived in the U.S. for the past two (2) years.

There are also no-cosigner loans that are available to students at a growing number of universities and colleges. If you do not have a cosigner, you can check whether you’re eligible for a loan without a cosigner.

What Student Loans Cover

International students can apply for a loan for up to their school's total cost of attendance, as determined by the school, minus any other aid received. Total cost of attendance includes tuition, room and board, and expenses related to education such as books and transportation, as well as living expenses. All of our international student loans offer:

Education Loan Programs in Canada for Nigerian Students:

Students from Nigeria studying at eligible Canadian universities may find study loan programs availalabe to them. In most cases a co-signer is not required when studying in Canada.

Like all private education loans, students in Canada can use the funds to cover part of or their entire tuition fee, you may also be able to use them to cover accommodation and other educational expenses such as books and equipment depending on the terms set by your school and / or the lender..

How to apply:

The application process for international student loans is quite simple.

  1. Check your eligibility:

    Using the loan comparison tool on this page - this takes 10 seconds and will show you if any companies are able to lend to a student in your position.

  2. Application:

    If you are matched with a lender you can then proceed with your application. The application process doesn't take long even if you are a non-U.S. citizen. You will need to submit the necessary documents and paperwork to the loan company and they will decide whether you are approved or not.

  3. Documentation

    These are the most common documents you will need to provide your lender. You may be asked to provide other documents if needed.

    • Identification proof
    • Proof of residence
    • Academic records
    • Valid passport & Visa
    • Proof of admission to your university
    • Extra-curricular certificates if appropriate

  4. Approval:

    Once your application is conditionally approved, you will be notified of the interest rates (fixed or variable rate) and repayment terms. Once you agree with the terms, your loan application will be approved and funds disbursed. This usually takes around 6 weeks.

    You should go through the terms and conditions multiple times before making any decisions. It can be very confusing to understand. If you have any doubts, consult an expert before signing to accept your funds.

Find My Loan

Are you a U.S. student planning to study in Nigeria? If so, check out our study abroad loans and foreign enrolled loans that can work for you.