Nigerian students abroad are struggling to afford their tuition fees after the sudden devaluation of the naira. Those hoping to start courses overseas this autumn have also been affected as the money they have saved for deposits and to prove funds for visa purposes has almost halved in value.
Companies offering students short-term loans to prove they have enough money to study abroad continue to operate in Nigeria, leaving agents concerned about students applying to UK universities without the funds to support themselves once they arrive in the country.
A new fintech company plans to provide up to $30 million in loans to help African students access higher education abroad.
International students will spend half a trillion dollars on studying abroad by the end of the decade, the head of a student finance company has predicted.
Private student finance firm Prodigy Finance has raised US$1bn in the past year, which CEO Cameron Stevens said will allow even more students "with limited or no funding" to take part in mobile study.
Prodigy Finance, a 'fintech' platform dedicated to offering loans and career advice to international students enrolled at top universities, has celebrated its 10-year anniversary in London with the launch of an impact report.
Plans to fund more than 10,000 students overseas may be in jeopardy, after it was announced Kenya's Higher Education Loans Board has been allocated around half the funding it requested in the upcoming budget.
EU students applying to study at an English HE or FE institution in 2017 will have access to student funding for the duration of their course, the universities minister has confirmed.
