Student Loans

LOANS

Lu Gold EDC provides short term loans for “ELIGIBLE” parents to help them meet their financial requirements during temporary gaps in cash inflow.

LU GOLD EDC PROVIDES SHORT-TERM LOANS

AT LU GOLD EDC, we work with many parents who have multiple children studying abroad at the same time. Sometimes, this puts a strain on liquidity and cash flow, especially when immediate evidence of funding is required. Lu Gold EDC provides short term loans for “ELIGIBLE” parents to help them meet their financial requirements during temporary gaps in cash inflow. Our Finance team covers all bases when screening an applicant for eligibility. You would have to provide detailed evidence of employment, source of income and establish clear inflow patterns before being deemed eligible for our loan. This service is only available to students in Nigeria and Ghana and our Interest rates are as low as 2%.

ELIGIBILITY

If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organisations. Loans made by the federal government, called federal student loans, usually have more benefits than loans from banks or other private sources. Learn more about the differences between federal and private student loans.

WHAT TYPES OF FEDERAL STUDENT LOANS ARE AVAILABLE?

Direct Subsidized Loans: These are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.

Direct UN-subsidized Loans: These are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.

Direct PLUS Loans: These are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

Direct consolidation Loans: These allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.

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Lu Gold EDC
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