STUDENTS of the Lagos Business School, LBS, can now pay part or all of their tuition with ease following the school’s partnership with Union Bank of Nigeria Plc to make loan available to them with flexible repayment options. The facility, accessible to the school’s Masters in Business Administration, MBA, Executive MBA and Modular Executive MBA students at any stage in the course of their respective programmes, is repayable over a four-year period at an attractive interest rate.
To qualify for the scheme, interested students would need to have salaries domiciled with Union Bank, run businesses profiled/approved by the bank or have parents/wards with Union Bank accounts. The loans will be provided with no collateral.
Uchenna Uzo, MBA director, LBS, explained that the loan finance deal was part of efforts to encourage students experiencing financial challenges to get the prestigious LBS MBA without hassle. “This is just one among several other financing options that LBS is currently working on to help our students succeed in the increasingly complex local and global business environment, with finance being the least of their worries,” he said.
Dayo Bankole-Hameed, head, retail credit, Union Bank, said that having access to affordable student loans was a key driver in encouraging postgraduate studies globally, and Union Bank is proud to be providing this critical financing support to MBA candidates at LBS. LBS has a commendable track record of assisting outstanding students with proven financial needs with scholarships on a yearly basis. The loan scheme and subsequent ones the School will fashion out with other renowned financial institutions will complement this effort.
— Jun 8, 2015 @ 01:00 GMT