Q: Are there any collateral requirements? A: Collateral requirements happen to be eradicated, but a guarantor can be required. According to the provisions in the bill, upon conviction, the defaulter or the individual aiding the default may confront a great of N500,000, imprisonment for any term of two decades, or https://africred.org/11-Things-You-Need-To-Know-About-the-Student-Loan-Law-in-Nigeria