Are you a Lagos Resident?
· Looking to further study for an advanced upskilling in tech and innovation?
· Seeking to add a professional certification to your tech skills?
· Needing financial support to achieve the above?
The Lagos Tech Skills Loan allows for a deferral of loan repayments, so the initial focus is on academic studies and gainful employment. It offers access to educational financial aid at a single digit interest rate that that covers tuition and associated costs.
i. Up to 1.5 million naira accessible to each applicant
ii. Interest rate as low as 9% per annum.
iii. Repayment flexibility: begins 3 months after completing course and spans across 18months.
Who is Eligible?
The obligor must meet the following eligibility criteria:
i. Must be a resident of Lagos State
ii. Must be aged between 21 and 45 years
iii. Must have admission to, or be enrolled in a course in an accredited/verifiable educational institution (Online and within Lagos)
iv. Must have a clean credit report.
Click here to Apply - https://forms.gle/zB9GJiPK2htBKFdh9
What documents do you need to apply?
i. Application form
ii. 12 months bank statement
iii. LASRRA ID (Lagos State Residency Registration), passport and any other government issued ID of the borrower
iv. Evidence of Tax payment (for applicants with work experience) /Tax Registration (For applicants without work experience)
v. Bank Verification Number (BVN)
vi. Original Certificates (Optional)
vii. NYSC certificate or exemption
viii. Degree from an accredited/ verifiable educational institution
ix. Letter of Enrolment from an educational institution
x. Two (2) Co-signers who must have verifiable Tax details (LIRS) and LASRRA registration, sizable income, good credit history, and a low debt-to-income ratio
xi. Co-signers’ proof of earnings via a proof of income letter, Bank Statement (12 months), Pay Slip, etc.
How does it work?
A. Click the link provided to apply.
i. Fill in the spaces in the form and upload the required documents
ii. Submit application form
iii. Wait to be shortlisted
B. Attend loan sensitization training by LSETF (for applicants ages 21 to 29)
i. Begin loan documentation
ii. Offer letter acceptance, requiring the sign-off of stakeholders
iii. Fulfilment of all documentary requirements as well as all conditions precedent to drawdown (All original documents are stored by the LSETF)
C. EdFin MfB will set up accounts for borrower, run KYC and Credit Checks on Applicant and Co-signers.
D. After the fulfilment of all conditions, funds are disbursed directly to educational institution to be administered on behalf of approved enrolees