A student loan in England depends on your financial situation and the year you start your Studies in England. There are several types of student loans in the United Kingdom that are available to students. One of the most popular is the so-called student loan for paying tuition fees, which allows you to cover the costs of studying at public or private universities. Additionally, students can apply for Fee Loans and Maintenance Loans.
Conditions for applying for a UK student loan
To apply for a student loan in England you must:
- Be a UK citizen (or)
- Be the Resident of the United Kingdom (pre settled or settled)
- Be registered as a student at a university in England.
- Not hold another bachelor’s or Master’s degree*
The government Student Finance England Tuition fee loan is granted for the duration of studies (5 years) including foundation year and an additional year (e.g. in the event of repeating a year).
Applying for a student loan for studies in the UK
Process of applying for a student loan for studying abroad:
- Submitting an application online. Financial contact for students: Student Finance England https://www.gov.uk/student-finance
- Application deadlines:
– By the end of May of the given year to receive tuition funds on time
– Up to 9 months after the start of the academic year
- The application must be accompanied by the necessary documents, including:
- Parents’ income certificate (if under 25)
– Residency confirmation
- The decision to grant a student loan in the UK is issued within 6-8 weeks of submitting the application
- After receiving the decision to grant a loan in England, the university will receive funds to cover the tuition fees
- The student receives access to the loan at the beginning of each academic year
- After each completed year of study, you must submit an application for a loan for the next year of study
Repayment terms for people starting studies in 2024/25: student loan – Great Britain
- Repayment begins after you complete your studies and exceed the earnings threshold. The earnings threshold for the 2024/25 academic year is £25 000 per year. Repayment thresholds for each country are set once a year on April 6
- Repayment covers 9% of income above this threshold
- Repayment is made in the form of monthly installments if the student works in the UK after graduation. When working in another country, Student Finance England determines the earnings threshold for that country and the student repays the loan once a year based on the annual settlement
- After 40 years (counting from the first year of repayment), the remaining loan and interest are forgiven, even if it has not been repaid.
How much is a Student Finance England Tuition Fee loan in England?
Full-time students can receive up to £9,250 a year towards tuition fees. In the case of a maintenance loan, the amount depends on your family income and place of residence.
Check a wide range of fields of study that University studies in the UK offer:
- Medical studies in England
- Law studies in England
- Architecture studies in England
- Art studies in England
- Acting studies in England
- Music studies in England
How to finance your studies in the UK?
The main sources of funding for studies in the UK:
- Scholarships (for international students)
- Private / bank loans
- Student Finance England Tuition Fee Loan (for Home Fees Students)
- Part-time job
- Personal savings and family support
- Crowdfunding, i.e. collecting funds from other people via online platforms
- Local help: office, charity or company.
- Check if your country can grant you a student loan
A student loan in the UK is the only one of its kind in the world
If the repaying person loses their job or is on maternity/paternity leave, the repayment is suspended, but years pass until it is written off.
A loan in England is not inherited. It also has no impact on financial capacity, because with low income you cannot repay another loan.
We encourage you to contact us because we have many years of experience in obtaining student loans. Knowledge of local regulations and procedures allows us to effectively advise our clients. From the moment of submitting the application to its consideration and collection of the loan – we are with our clients at every stage of the process.
You may also find this interesting: University studies in England without a high school diploma
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