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.
ELIGIBILTY/ INSTRUCTION TO ALL APPLICANTS
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 must have complied with the following:
1. Download and print-out the application form using the link below.
Download Form
2. Download and print-out 2 (two) guarantor’s forms using the link below
Download Form
3. Attach 2 (two) passport photographs to the completed application form
4. Attach all necessary documents required in the application form before submission.
5. 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.
DISQUALIFICATIONS
Subject to the terms and conditions stated below, applicants shall be disqualified on the following grounds.
1. He/she is proven to have defaulted in any previous loan granted by the State, Federal Government or any other organization
2. He/she has been found guilty of examination malpractice by any school authority
3. He/she has been indicted or adjudged to be involved in cultism or other anti-social vices in society
4. He/she has been convicted of felony or any offence involving dishonesty or fraud
5. He/she has been convicted of drug offenses or related crimes
6. He/she is proven to be insane.
TERMS AND 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.
1. Information provided by applicant must be correct and accurate
2. Applicants must pay a nonrefundable processing fee of N2,000 (Two Thousand Naira) only
3. 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
4. Applicants and/or guarantors’ income must not be less than N500,000.00 (Five Hundred Thousand Naira) only per annum
5. 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
6. First time applicant must NOT be a final year student in his/her course of study
7. Applicants must submit previous academic record if in year 2 and above
8. Undergraduate Applicants from 200 level and above must have a CGPA of not less than 2.5
9. Applications will be processed yearly for both old and new prospective beneficiaries.
10. 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.
11. Beneficiaries/guarantors must repay the loan fully within a year/academic session to qualify to apply for subsequent loans.
12. 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. 13. Applicants from educationally disadvantaged local government areas may be given preferences.
14. The Board shall not be held accountable for an application that is not successful.
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