BadCredit’s Okay

When you require financial support to meet the ever increasing cost involved in building up your academic career, the first thing that you will look for is the Students Loans.  In United Kingdom, such student loans are available for both full time and the part time students. If you qualify, loans will be available and you will not have to pay back anything till your course is complete.

Complete your studies and pay back later

As a student you have financial packages available to support you.  The main sources for such support are the student loans disbursed by Government, and grants sanctioned by the Government as well as the universities and colleges.

The advantage of obtaining a Government student loan in UK is that you do not start paying back till you have left your studies and earning a minimum of £15,000 annually.

Do you qualify for UK student loans?

To qualify for getting UK student loans you must be living in England or are a new student who has just commenced his or her educational carrier during 2006 onwards.

However, the package will be different if you are living outside England.  To qualify for any type of student finance, whether loan, bursaries, scholarships, or grants you need some residential proof and must be studying in recognized institution imparting higher educations.

Government student loans in UK

You do not pay till you have completed your studies and earning at least £15,000 per annum when you obtain a Government loan.  It covers up to £3,145 or £3,070 towards tuition fees for the years 2008-09 and 2007-08 respectively. In addition such loans will cover £6,475 or £6,315 during those two years respectively towards your accommodation expenses.

How to apply for student loans in UK

The best course for applying for the student loan in UK is to apply for the course application. You can however have get a bursary or scholarship in addition to your student loan granted.

There are different types of forms of applying for student loans.  It largely depends on the type of course you have taken for your studies.  You may be studying full time, part time, or undergoing some form of training.  You might also be pursuing some Open University courses.  Forms will vary accordingly. You will have to file new applications every year for grant of loans.

Full time student’s loan application in UK

Though you can apply for student loans in UK within nine months from the first day of the academic year, you should apply as soon as possible for the same. You can also apply online for such loans for the current year. Else you can download the application form from the PN1 to complete it on paper.

If you ask for extra support, you will need more forms to fill out. You can download the application form and guidance notes by logging on to the UK Government’s official website.

Complete your application before submission

Always complete your application before submission in all respects.  Carefully read instructions and provide all supporting papers required for the purpose.  The Guidance you have downloaded will come up very handy for such purposes.