Back-To-School Expenses: FirstBank Offers Credit Lifeline To Parents, Students ……N500,000 FirstCredit, N2m FirstAdvance Available as New Term Costs Bite

As schools reopen for a new academic term, parents, guardians and students across Nigeria are once again confronted with the familiar challenge of meeting a fresh wave of financial obligations, ranging from school fees and uniforms to textbooks, electronic gadgets, transportation and accommodation.

For many households already grappling with rising living costs, the financial demands associated with returning to school can place considerable pressure on household budgets.

Recognising the need for additional funding at the start of a new academic session, FirstBank has introduced credit options designed to help customers manage their back-to-school expenses and remain financially prepared throughout the term.

The bank's back-to-school campaign, tagged “Back to School, Sorted,” provides customers with access to different financing options depending on their financial circumstances.

According to the bank, customers can choose between FirstCredit and FirstAdvance, with each product designed to address different short-term funding needs.

For non-salary earners, FirstCredit offers access to loans of up to ₦500,000, without collateral or paperwork, providing an option for customers who may not have conventional monthly salaries but require additional funds to meet pressing expenses.

For salary earners who require money before their next payday, FirstAdvance provides instant access to up to ₦2 million, giving eligible customers an opportunity to bridge temporary financial gaps.

The financing options could prove particularly useful during the back-to-school period, when several expenses often arrive simultaneously.

For parents, these may include school fees, uniforms, shoes, textbooks, writing materials and transportation costs. Students, particularly those in higher institutions, may also require funds for accommodation, electronic devices, learning materials and other academic necessities.

The bank said customers can apply through its LIT App and FirstMobile, providing convenient digital channels for accessing the available financial solutions.

The initiative underscores the increasing role of digital banking and consumer credit in helping households manage periodic financial pressures.

Back-to-school expenses have traditionally represented a major financial commitment for Nigerian families. With the cost of education and related necessities continuing to constitute a significant portion of household spending, access to short-term financing can provide some customers with additional flexibility when expenses exceed available cash flow.

However, customers are expected to understand the applicable terms and conditions before taking up any credit facility and ensure that any borrowing is consistent with their repayment capacity.

FirstBank urged customers to take advantage of the available solutions to prepare for the new term, while reminding customers that terms and conditions apply.

The bank's message is straightforward: rather than allowing the financial demands of a new academic term to become overwhelming, eligible customers can explore available credit options and plan their expenses accordingly.

The initiative also comes with a reminder on account security. FirstBank customers can dial *894*911# as an emergency USSD code to block their accounts when necessary.

The bank further advised customers to keep their records up to date by visiting any of its branches close to them.

As the new school term gets underway, the ability of families to effectively plan and finance education-related expenses remains critical.

For customers who qualify, FirstCredit and FirstAdvance provide additional financial options to help manage the immediate demands of the new academic term.

With the campaign's central message of “Let's get this term sorted, together,” FirstBank is positioning its credit offerings as part of the financial support available to customers navigating the back-to-school season.