Question 1

Who is eligible for a Monizia loan?

Accepted Answer

Monizia loans are available to African students who have been admitted to one of our supported global universities for a Master's degree (MBA, MSc, etc). You do not need a cosigner or collateral.

Question 2

Do I need a cosigner?

Accepted Answer

No. Our model is based on your future potential, not your family's financial history.

Question 3

What countries do you support?

Accepted Answer

Currently, we support students from Nigeria, Ghana, Kenya, and South Africa studying in the US, UK, Canada, and select European countries.

Question 4

Is there an age limit?

Accepted Answer

Applicants must be at least 18 years old. There is no upper age limit, provided you are admitted to an eligible program.

Question 5

How long does the application take?

Accepted Answer

The initial application takes about 10 minutes. Once submitted, you can receive a conditional offer within 24-48 hours.

Question 6

What documents do I need?

Accepted Answer

You'll need your admission letter, valid passport, undergraduate transcript, and proof of address. Additional documents may be requested during verification.

Question 7

Can I apply before admission?

Accepted Answer

You can start your application to check your potential eligibility, but a formal offer requires a valid admission letter from a supported university.

Question 8

What is the MMRE Score?

Accepted Answer

The Monizia Merit-Based Risk Engine (MMRE) Score is our proprietary assessment tool. It evaluates your academic potential, future earning capacity, and program ROI rather than just your credit history.

Question 9

How can I improve my MMRE Score?

Accepted Answer

Your score is influenced by factors like your undergraduate GPA, test scores (GMAT/GRE), the ranking of your target university, and the employment rate of your chosen program.

Question 10

Does a low credit score affect my MMRE?

Accepted Answer

Traditional credit scores have minimal impact. We focus on your future potential. However, we may check for major derogatory marks like bankruptcy.

Question 11

How is the money sent?

Accepted Answer

Tuition fees are paid directly to your university. Living expenses, if included, are disbursed to your personal bank account in installments.

Question 12

When will I receive the funds?

Accepted Answer

Disbursement aligns with your school's payment schedule, typically at the start of each semester.

Question 13

Can I use the loan for visa proof?

Accepted Answer

Yes. Once your loan is approved, we provide a support letter that can be used as proof of funds for your visa application.

Question 14

When do I start repaying?

Accepted Answer

You make small interest-only payments while in school. Full principal + interest repayment begins 6 months after graduation.

Question 15

Can I pay off my loan early?

Accepted Answer

Yes. There are no penalties for early repayment.

Question 16

What are the interest rates?

Accepted Answer

Our interest rates are competitive and fixed for the life of your loan. Rates typically range between 10-15%, depending on your MMRE score and market conditions.

Question 17

Where are Monizia's offices located?

Accepted Answer

Monizia Finance Inc. has a global presence with offices in Nigeria (Block 10 Sunshine Estate, Marcus Gundiri Street Off 69 Road Gwarimpa Abuja) and Canada (OneEleven Tech Hub, 325 Front Street West, Toronto).

Question 18

How can I contact Monizia directly?

Accepted Answer

You can reach us at info@moniziafinance.com or call us at +2348051000185. Our support team is available Monday to Friday, 9am - 5pm WAT.

Frequently Asked Questions

Eligibility

Application Process

MMRE Score

Disbursement and Funding

Repayment

Company & Support

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