Who can be eligible for a student loan?

1) The United Kingdom citizens

  1. UK citizens do not have to show their place of work and personal income.
    1. UK citizens would only need to confirm the residential address. Due to the fact that all Student loan organisation correspondence will be sent to their UK address.

2) The EU citizens  

            2.1. A student may have an EU passport, but they are also required to reside in the country of citizenship for more than 3 years. (For example, a French passport → confirm your 3 years residence in France) 

            2.2. If your spouse is an EU citizen and you are not, this fact does not prevent you from receiving state funding.  

If your wife or husband (an EU citizen) works at least 16 hours per week, then you could be eligible for around 10,000 for your residence in the UK per year.

             2.3. If a student lives in Europe at the moment, they have to come to the UK in order to apply for a student loan. The main condition to receive the student loan would also be a 3-month work in the UK.

(The United Kingdom includes such territories as England, Scotland, Northern Ireland and Wales)

Student Loan applying conditions

  • Staying in the UK for more than 3 months.
  • You would need to work at least 16 hours a week and receive at least 750 pounds all these months, in order to attach 3 payslips to your application in the future.
  • An Offer Letter from the University.

How much could you get with a Student Loan?

As a university student you can get about £9,000 annually for undergraduate studies and £10,000 for accommodation, rent bills, travel, meals, etc.

Master’s degree and Ph.D. students can receive about £10,000 for their tuition fees.

Student Loan application period of consideration?

  • 8 weeks

Access to the funds

After approval and obtaining the loan, you will have a separate account that will be topped up 2 or 3 times a year.

Student loan repayment process and term

The loan repayment term starts after your university graduation upon one condition. You should work and earn more than £27,000 per year. It is required to pay about 9% of the amount above £27,000. This means that if your annual income is £30,000 you will pay 9% of the £3,000 annually.

Payments are valid only in the United Kingdom, if a student leaves the country there is no need to pay. 

The maturity is 30 years.