The focus of the paper was on the relevance of informal education to entrepreneurship education. In doing this, the paper examined the prospects of new media as an informal tool, for the acquisition of entrepreneurship education and training. The intention of this paper was not to quantify the population of students that were internet or new media compliant but the quality of which the sample that were users put it into use. To achieve this, a study was conducted on One Hundred Final Year Higher National Diploma (HND II) students of Lagos State Polytechnic, to determine how new media has impacted on them in the process of acquiring entrepreneurship education and training, and to examine the prospect of adopting new media as an instrument for propagating entrepreneurship education. The findings showed that new media had not contributed significantly to this process. However, majority of the respondents agreed and also the hypothesis confirmed that new media has the potential to impact positively in their quest for entrepreneurship education and training. Some of the suggestions offered include government intervention, guidance by the volunteer groups and social media groups. If considered, it would accelerate positive engagement of new media.