SEAP offers two scheme of Education Loan: Regular loan scheme and the Student loan scheme.
Terms and Conditions:
- Tenure: One academic calendar
- Registration: N1000
- Savings: Nil for existing, Savings 10%(new members)
- Loan Amount: Between N10,000 and 300,000
- Service charge: 12%
- Repayment: weekly
- Health Insurance, compulsory for N200,000 and above, optional for N50,000- N150,000.
- Execute Personal Guarantee Form.
Below is a comprehensive list of the terms and conditions that must be agreed to inorder to qualify for a Student Education Loan :
- Student must be in Distinction/First class grade
- Loan Amount: Depending on the School Bill
- Guarantee: Education institution must be willing to release’s candidate original certificate to SEAP MFI after graduation
- Repayment: By candidate when he/she starts working
- Application to be directed to the office of the Executive Programmes Director-EPD.