School Fees Advance is a loan facility is designed to finance the payment of your child’s/ward’s school fees for schools/institutions in Nigeria and the diaspora. This facility is available to salaried individuals and self-employed individuals.
Life happens, but you can depend on us for a quick loan to take care of the things that are important to you, like the future of your loved ones. Speak to us about an advance of up to10 million Naira for school fees.
What is Student Loan?
Students loan enables people undergoing different kinds and levels of formal education access to funds necessary for the completion of such study. Expenses ranging from costs of required stationeries, school fees, accommodation, as well as other expenses required by the students in need are covered by these loans. These facilities are majorly not known by many students, and for the selected few who know about them, processing them is unknown of them.
Student loans like other loan facilities come with their terms and conditions of the acquisition. Eligible students, primarily students who have difficulty sourcing funds for their education would need to further meet some requirements before being through the process of loan obtainment.
- Minimum Facility Amount of N50,000.00
- Maximum Facility Amount of N10,000,000
- Maximum tenor of 3 months (For Nursery/Primary/Secondary schools) and Maximum tenor of 12 months (for tertiary institutions) per request
School/Tuition fees will be paid directly to the child/ward’s school
- Completed School Fees Advance application form
- Letter of introduction: This is to determine the employment status of the parent/guardian
- Irrevocable letter of domiciliation from the employer: This is to ensure that the parent/guardians salary will remain with Wema Bank until the advance is liquidated
- Invoice of School/tuition fees
- Proof of identity (Driver’s license, National ID, International Passport or Voters card) Employment ID is not sufficient
- Proof of address i.e. utility bill
- Last three month’s payslip
- Six months’ salary statement of account (for customers whose salary accounts cannot be or are not domiciled with Wema Bank)
- Admission letter from the school if the school is in diaspora