Student Loans For Higher Education In UK

This page will give the basic information about the student loans that are offered for the students who for a higher education in UK. The higher educational student loans offered through the financial set-ups of UK are generally will take care of the students' living costs, e.g. course materials, accommodation, food, clothes, travel etc. Interest is charged at the rate of inflation, so the amount you repay will be equal in value to the amount you borrow.

These loans can be availed by the students who wants to pursue and have earned an admission in a course in any of categories such as full-time or sandwich or part-time higher degree program after high school level. The maximum age limit is 60 to avail these student loans.

Your loan is usually paid in three installments, one at the start of each term, directly into your bank account. The finance people will offer the repayment plan which will explain what amounts will be paid and when.

This will depend upon your household income and where you live whilst you study.
For continuing students 75% of the loan is non income-assessed, while 25% is income-assessed. This means that a proportion of the loan paid to you will be dependent upon your household-income.

Your household-income generally refers to the following features:

1. Your income if you are an independent student, i.e., you are over 25 when you commence your studies or You have been married or entered into a civil partnership before you start your course (your Local Authority (LA) may ask for proof of this) or You have supported yourself financially for at least three years before you start your course or You have no living parents.

2. Your parents' income if you are a dependent student (i.e. you live in your parental home and / or rely on at least one of your parents for financial support). For example, if you live with both parents, both their incomes will be taken into account. If you live with only one of your parents, it will be their income only that is taken into account. If they live with a spouse or partner (of either sex), this person's income will also be taken into account.

If your parents or partner do not provide details of their income to your Local Authority, you will not receive all the financial support to which you are entitled.