How to Apply for FG’s ₦10 Million Interest-Free Loan

The Federal Government has introduced a new initiative that promises to ease financial burdens on workers in Nigerian universities, polytechnics, and colleges of education. The Tertiary Institutions Staff Support Fund (TISSF) will provide interest-free loans of up to ₦10 million to qualified academic and non-academic staff.

This move, spearheaded by the Federal Ministry of Education, is part of ongoing efforts to improve staff welfare and promote productivity across tertiary institutions.

What the ₦10 Million Loan Covers

The TISSF is designed to help staff meet pressing financial needs without the burden of interest rates. The fund supports several key categories, including:

• Medical expenses – for health emergencies and family medical needs
• Housing or accommodation projects – including rent or home construction
• Transportation needs – such as vehicle purchase or maintenance
• Small business or agricultural ventures – for staff seeking extra income
• Academic advancement – including tuition, research, or training costs

This broad range ensures flexibility for staff to apply the funds where they are needed most.

Loan Details and Repayment Terms

Each eligible applicant can access up to ₦10 million, depending on their verified annual income and repayment capacity. However, there’s a limit — borrowers can only access up to 33.3% of their gross annual salary.

Importantly, no interest will be charged on the loan. Repayments will be made through monthly salary deductions managed by each institution’s bursary department, ensuring a transparent and convenient process.

Who Can Apply

To qualify for the TISSF loan, applicants must:

• Be confirmed full-time employees of a federal or state tertiary institution
• Belong to the academic or non-academic staff category
• Have their institution registered and verified under the scheme

While the loan portal (tissf.education.gov.ng) is temporarily closed, it is expected to reopen soon for new applications.

Why This Matter

This initiative demonstrates the Federal Government’s commitment to supporting the welfare of tertiary institution workers — a sector often burdened by delayed salaries, inflation, and limited access to credit. With zero interest and a structured repayment plan, the TISSF stands out as one of the most practical financial relief programs available to Nigerian educators today.

How to Prepare Before Applications Reopen

If you’re interested in applying once the portal reopens, here’s how to get ready:

• Confirm your employment status and salary structure with your institution.
• Gather supporting documents such as ID cards, payslips, and employment letters.
• Stay updated via the official site: tissf.education.gov.ng.