RenMoney to Ease Parents’ Back-to-school Expenses with School Fees Loan


RenMoney Microfinance Bank recently kicked-off its #Back2School campaign with the School Fees Loan product, aimed at making back-to-school season easier and faster for parents and guardians. RenMoney, a consumer finance organisation provides unsecured loans in 24 hours.

Back-to-school season can be financially stressful for parents with requirements like increased school fees, new textbooks, new writing materials, new school kits and in some cases, a new school.

The School Fees Loan requires no collateral, no guarantors and it is accessible at lower interest rates compared to other lenders. This is to ensure that education for children remains accessible and easy to fund.

According to the CEO, RenMoney MFB Nigeria, Ian Abrahams, RenMoney School Fees Loan was born out of the desire to address the high costs and associated panic that parents face when schools resume a new term.

“We want to make sure that parents can access cash as quickly as possible. We also want to make sure that repayment terms are easy and will not break the bank, which is why the interest rate on School Fees Loan is so low.”

RenMoney’s School Fees Loan product offers up to N4,000,000 collateral free cash loans at reduced rates to parents who meet RenMoney’s credit criteria and need to pay school related fees for their children and/or wards. RenMoney’s School Fees Loan covers tuition, registration, books, lunch as well as other invoiced education related costs by the school(s). The beneficiaries of the loan also enjoy financial ease, as they can repay their loan in convenient monthly instalments over an agreed tenure.

Parents can access the financial ease by applying for a RenMoney School Fess Loan via the company website They can also follow the company’s social media channels to stay in the loop of arising events in the #Back2School campaign on RenMoney’s social media platforms with mouth-watering giveaways for winners.