The Bayelsa State Higher Education Student Loan Board was specially created by the Bayelsa State Government of Nigeria to provide unfettered access to loans for tertiary education in the state.

It aims to provide financial loans to aid the educational advancement of Bayelsa State indigenes in tertiary institutions targeted at building the manpower base of the state.

Before proceeding to apply for a student loan, Applicants must be indigenes of Bayelsa state and must have secured admission into any public tertiary institution in Nigeria. Note that applications from students in foreign universities and private universities within Nigeria will not be processed.

How to Apply

To apply for the loan, students are required register/apply online using This Link

However, if you wish to apply and submit in person, please adhere to the guidelines below.

Download and print-out the application form using the link Link

Download and print-out 2 (two) guarantor’s forms using the link above

Attach 2 (two) passport photographs to the completed application form

Attach all necessary documents required in the application form before submission.

Submit the duly completed application form and guarantor’s forms to our office in the following address. Education House, #1, Old Water Board Road, Ovom, beside Samson Siasia Sports Complex, Yenagoa, Bayelsa State

Terms & Conditions

These terms and conditions are applicable to all applicants. Applicants will ONLY be considered for the loan upon acceptance of the following terms and conditions.

Information provided by applicant must be correct and accurate

Applicants must pay a nonrefundable processing fee of N2,000 (Two Thousand Naira) only

Application must be accompanied with two duly signed guarantor’s forms. One of the guarantors must be a civil servant of not less than grade level 12; or a recognized Traditional Ruler or a Lawyer, or a medical Doctor, or other recognized professions with at least 10 (ten) years post qualification experience or practice

Applicants and/or guarantors’ income must not be less than N500,000.00 (Five Hundred Thousand Naira) only per annum

No guarantor shall guarantee more than 3 (three) applicants within six years except one or more of the applicants have completed their studies and have commenced the loan repayment

First time applicant must NOT be a final year student in his/her course of study

Applicants must submit previous academic record if in year 2 and above

Undergraduate Applicants from 200 level and above must have a CGPA of not less than 2.5

Applications will be processed yearly for both old and new prospective beneficiaries.

Applicants and/or guarantor should be aware that the loan is on an instant short term basis and must start repayment of the loan after a three months’ moratorium period.

Beneficiaries/guarantors must repay the loan fully within a year/academic session to qualify to apply for subsequent loans.

Applicants’ original certificate shall be in the custody of the Board pending the final repayment of the total loan amount. However, beneficiaries can apply for their certificates where they are needed to be sighted by a prospective employer and must be returned to the Board after such exercise.

Applicants from educationally disadvantaged local government areas may be given preferences.

The Board shall not be held accountable for an application that is not successful

Disqualification

Subject to the terms and conditions stated above, applicants shall be disqualified on the following grounds.

He/she is proven to have defaulted in any previous loan granted by the State, Federal Government or any other organization

He/she has been found guilty of examination malpractice by any school authority

He/she has been indicted or adjudged to be involved in cultism or other anti-social vices in society

He/she has been convicted of felony or any offence involving dishonesty or fraud

He/she has been convicted of drug offenses or related crimes

He/she is proven to be insane

Defaulters and Penalty

The board shall take all legal means against defaulters and charge them before a court of competent jurisdiction to recover any sum due as to the revolving loan

Notwithstanding the fact that the loan is interest free, anyone found guilty for defaulting shall pay 15 per cent interest or Bank’s prevailing interest rate (whichever is higher) on the outstanding sum due for repayment

Any recalcitrant defaulter shall be charged before a Magistrate Court and if found guilty shall be liable to a fine of twice the sum due for repayment or an imprisonment ranging between 6 (six) months and thirty six months or both

The Board reserves the right to modify the nature, conditions, and stipulations of these general terms and conditions and such modifications shall be binding on all applicants effective when such modifications are made.

For online application, contact our office in Amassoma
Beside Main Campus Gate,
By RCF Tent,
Wilberforce Island,
Bayelsa State.
See address map below:

 

Michael O'Jules

Michael O'Jules

Site Admin

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