student loans

In Ghana, many banks offer student loans to help with the cost study. Money should not be a barrier to obtaining a first-degree certificate, master’s, certification, or even a PhD.

There are banks that offer student loans in Ghana. Everybody’s bright future rests on education because it fosters the development of ideas, abilities, and character. But you can be prevented from accomplishing your aim by financial difficulties. In addition, many students who wish to study may find it extremely difficult due to a lack of funding.

This article includes a comprehensive list of reputable lending organizations in Ghana that have low payment interest rates and also offers student loan.

Why Student Loan?

Student loans are a type of short- or long-term financial aid that help students finish their education. Additionally, it gives students the option to pay back the debt at a relatively cheap interest rate in the future. Doing this, it helps students feel less depressed and frustrated.

The following are some reasons to think about student loans:

  • Affordable repayment

Repaying student loans is simple and reasonable. There are many financial institutions that offer student loans, and they all have different repayment plans. The financial institutions you applied to will determine how you are repaid. Ten (10) to twenty-four (24) months are usually allotted for repayment.

  • Low interest rate

Student loans for higher education have a different interest rate than other loan products. Students with financial difficulties can use student loans to assist them finish their education. This prevents the students from feeling down and frustrated.

  • Gives peace of mind

Putting in an application for a student loan offers you comfort. It lessens the stress associated with paying tuition. Long-term support is provided by student loans. Additionally, it aids in maintaining focus when studying.

Note: Prior to applying, always compare the interest rates offered by several student loan lenders. 

student loans in Ghana
student loans in Ghana

List of Banks that Offer Student Loan in Ghana

  • Bank of Africa Ghana–Educational Loan

The student loan from the Bank of Africa Ghana is well-known as a loan for education. This loan is for Ghanaian students who are working. These students must have a desire to enhance their education but are constrained by money. It is one of the financial institutions in Ghana that provides loans for Ghanaian students. They offer low-interest financing for the entire student debt.


The minimum prerequisites for student loans from Bank of Africa Ghana are listed below. You can use this to determine if you are eligible for the loan.

  1. You must be at least 21 years old but not older than 58.
  2. Customers and non-customers alike may apply for the loan.
  3. You must not be on any blacklists and have a strong record with them.
  4. A minimum of six months of gainful employment
  • HFC Bank students loan

Among the organizations that lend to students is HFC Student Loan. Undergraduate and graduate students in Ghana are eligible for loans from them. HFC educational loans have assisted many Ghanaian graduates who are already employed as well as students.


There are minimal standards that must be met in order for you to qualify for a loan. HFC student loans are not any different from this. The following are the minimal conditions for an HFC loan for students:

  1. The HFC Bank must be the applicant’s existing financial institution.
  2. It must have been at least a year since you started working.
  3. You will set up a standing order arrangement for the loan repayment in the event that you are unable to open accounts with the Bank.
  4. In the event of disengagement, you must make sure your employers pay obligations to the Bank.
  5. A route through an HFC Bank account is required for salaries.
  6. As proof of debt, applicants must provide the bank with recent school expenses.
  7. They can pay via bank draft or direct transfer to the school.
  • Societe Generale Ghana student loan

Student loans are available from Societe Generale Ghana to assist you in covering your ward’s tuition costs. You will benefit from taking care of your child’s educational costs as well.


  1. Create a Societe Generale account.
  2. Get at least one month’s worth of pay with the account.
  3. Evidence of employment.
  4. Please submit three consecutive payslips.


Read Also: Student Loan Trust Funds in Ghana




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