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Private student loan companies

I am in my final year of an undergraduate degree and want to apply for another undergrad when I finish. Obviously student finance England won't fund my tuition fees but I have found a private student loans company. I just wondered if anyone had applied for a loan with them or knew anything about them.
They are called Future Finance.
financemyfuture.co.uk

thanks :smile:

Reply 1

k9markiii

Original post by kelly_8

This looks like a bad investment to me. If you look at their example the person pays back £14K for an £8K loan. Unless a different undergraduate degree is going to be worth that extra financial burden I can't see it working out for you.

Reply 2

Klix88

They're a bit like the payday lenders such as Wonga. The only people using them are desperate and have no other options, so they have very unfavourable repayment terms and very high interest rates. e.g. they expect you to start repaying whilst you're still studying.

You can expect a sales rep to respond here shortly. Bear in mind that they're on commission and are more interested in making a sale than highlighting the uncomfortable truths about their service.

Also, do check the fees for second undergrad degrees, which aren't generally publicised. I've heard of a couple of unis which have charged International fees for UK residents who want to do a second degree. Because the uni doesn't get any government money for students doing second degrees, you might find yourself paying through the nose.

Reply 3

balotelli12

They Nearly always charge international fees for unsupported second degrees.

Reply 4

trifleontoast

What about an NHS funded undergrad degree instead. Stay away, in my opinion, from those types of companies. ALso why not do a masters degree you could try and do something unrelated to your degree, you may be accepted. The Career Development Loan is a much better alternative than that private company

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