Student loan is an offer given to student to aid them to finance their education that may include tuition fee, accommodation fee and books. A loan is giving out money, property, or any other material to another in exchange for repayment in the future of loan value with interest. A student loan is securing a money loan from a financial institution to sort out your educational Bill, especially school fees and accommodation fees.
In this post, I will be taking you through the various private student loans in Ghana. Do you have better grades and are worried about your educational fund? Get your admission form and once you’re admitted into any public or private tertiary institution and apply for a student loan in any of the following institutions.
PRIVATE STUDENT LOANS IN GHANA
HFC Bank loan for students
HFC student loan is among the student lending institutions. They offer loans for undergraduate and postgraduate students in Ghana. Many Ghanaian graduates that are working already and students have benefited from HFC educational loans.
Requirements for HFC loans for students
For every loan, there are minimum requirements that make you eligible. HFC loans for students are no different from this. The minimum requirements for HFC loans for students include:
- Applicants must have and maintain a current account with the HFC Bank.
- You must have been in their employment for not less than 12 months.
- In case you cannot open accounts with the Bank, you will set up a standing order arrangement for the loan repayment.
- You must ensure your employers remit entitlements to the Bank in the event of disengagement.
- Salaries must be a route through an HFC Bank account.
- Applicants must present current school bills to the bank as indebtedness evidence.
- They may make payment through direct transfer to the school or bank draft.
Bank of Africa Ghana–Educational Loan
Bank of Africa Ghana educational loan is for employed students of Ghana. These students must have a dream to further their studies but face financial limitations. They finance the student loan 100% with a low-interest rate.
Requirements for Bank of Africa Ghana-Educational loan
The list below shows the minimum requirements for an educational loan for the Bank of Africa Ghana. This enables you to know whether you qualify for the loan.
- You must be above 21 years, but below 58 years of age.
- The loan is open to both customers and non-customer.
- You need to have an outstanding record with them and not be blacklisted.
- Gainfully employed for at least 6 months.
You can always visit them today to make that dream a reality.
Societe Generale Ghana
Parents can access this loan facility to finance their children’s school fees. Their loan repayment has a grace period of 10 months.
Here are the requirements to access this loan.
- You must be an account holder with the Societe Generale Ghana and receive at least a month’s salary.
- You need a proof that you are employed by providing 3 payslips, which are consecutive.