LSETF EDFIN Student Loan

Lagos has an unemployed population of over 1 million inhabitants. A portion of this population consists of individual’s intent on furthering their education by earning advanced degrees, as research shows a positive correlation between these advanced degrees and improved prospects for employment. However, the prohibitively high cost of advanced education deters from this path, with average monthly household incomes in Nigeria at less than one hundred thousand naira.

Lagos State Employment Trust Fund (LSETF) via its partnership with EDFIN is providing an educational financial support in form a loan to Lagos State Residents. This Loan is designed to help eligible Lagos State Residents – 21 to 45 years old cover their educational and upskilling costs.


The obligor must meet the following eligibility criteria:

  1. Must be a resident of Lagos State
  2. Must be aged between 21 and 45 years
  3. Must have admission to, and be enrolled in a course in an accredited/verifiable educational institution (Online and within Lagos)
  4. Must provide Two (2) Co-signers with a sizable income, good credit history and a low debt-to-income ratio
  5. Completion of National Youth Service (Optional)
  6. Clean credit report
  7. Evidence of Tax payment (for applicants with work experience) / Tax Registration (For applicants without work experience)


The following documentation is required of the obligor when applying for an LSETF Educational Loan

  1. Application form
  2. Accepted offer letter
  3. 12 months bank statement
  4. LASRRA ID (Lagos State Residency Registration) of the borrower
  5. Evidence of Tax payment (for applicants with work experience) /Tax Registration (For applicants without work experience)
  6. Bank Verification Number (BVN)
  7. Original Certificates (Optional)
  8. NYSC
  9. Degree from an accredited/ verifiable educational institution
  10. Letter of Enrollment from educational institution
  11. Two (2) Co-signers who must have verifiable Tax details (LIRS) and LASRRA registration.
  12. Co-signers’ proof of earnings via a proof of income letter, Bank Statement (12 months),Pay Slip etc.


• Applicant obtains Educational Loan requirements from LSETF and puts in an

application including supporting documents via an application form

• Information and documentation provided at application undergoes a first level

assessment, and successful applicants are invited for an interview at the LSETF

• The LSETF liaises with Applicant’s educational institution to verify the information

provided. The educational institution in turn certifies amount requested, confirming cost

of attendance

• A shortlist of successful interviewees is presented for the requisite LSETF Board approvals

• Approved applicants are contacted by the LSETF to begin the loan offer acceptance


– Applicant as well as Parents or Guardians (for applicants ages 21 to 29) attend

loan sensitization training

– Offer Letter acceptance, requiring the sign-off of stakeholders

– Fulfilment of all documentary requirements as well as all conditions precedent

to drawdown (All original documents are stored by the LSETF)

• Fulfilment Partners set up accounts, run KYC and Credit Checks on Applicant and Cosigners for a management fee, paid by the LSETF

• After the fulfilment of all conditions, funds are disbursed directly to educational

institution to be administered on behalf of approved enrolees

Click here to Apply –

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