How to get a 20,000 pounds loan?

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    (Original post by kasschaud)
    I understand, indeed. My partner (French) is moving to the UK for work, though, she got a proposal from her US firm to move from Paris to London, and we are not making plans of moving to the UK just for a couple of years; we actually have a life plan together. But of course banks do not care about that, you are absolutely right! Haha!

    I am from Estonia with Estonian, Danish and Spanish citizenship.
    Estonia does not have an interesting loan offer for a person wanting to study abroad, specially at those high amounts. My next step is to actually try to find a suitable loan here in Estonia, but for what I have been screening it is very complicated.
    Spain does not give me absolutely anything in that sense since I do not live nor study there nor have a bank account or whatsoever in Spain.
    Same situation with Denmark, I also have no ties there, therefore banks also "do not know me"....
    I am aware that every credit application you make, will temporarily affect your credit score. But that being said, it is better to have an account with a uk bank, then none at all. And even if you can't get a credit account, it will still be worth having a basic account, if you hope to visit the uk some point later as a student. Although, if you are able to get a place, you will be elligible for the £10k funding, but i can't promise any more than this right now, sadly. The banks have really clamped down on who they are lending to!
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    (Original post by kasschaud)
    LSE's fees are at £32,880 for the next academic year, Imperial at £32,000 and Cass at £27,000.

    I can get that 10,000 loan from the UK indeed, but then I still have left around 20,000 to figure out...



    It also overwhelms me how much it costs to study Finance nowadays. It is like that all over Europe: I am also applying for HEC Paris and the tuition fees are at € 30,000. The difference is that in France they offer very good complete student loans for EU students at very good interest rates.

    Most of the greatest universities cost a fortune nowadays, of course I could go to study somewhere cheaper but I think it would be such a waste when I could learn from these great institutions (and the UK have many) after many years of hard work, a 95% GPA and a summa cumlaude.
    Presumably they are expensive because they are in expensive locations , have high class staff to pay and the qualification will eanr you etra money in the job market and employability terms.

    I dont think you would make a good loan risk for a UK bank. Maybe your partner could take one out for you with a French bank?
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    (Original post by 999tigger)
    Btw George Osborne is no longer Chancellor. Not everything he proposed will happen imo.

    What country are you from?
    What security can you offer?
    How long have you lived here?

    All good reasons why most will have little interest in laoning you £20,000.
    Indeed you are right! I was just wondering because in France, for example, it is possible to have loans as high as € 30,000 under the status of a student, as long as I have a guarantor - which I would also have in the UK.
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    (Original post by kasschaud)
    Indeed you are right! I was just wondering because in France, for example, it is possible to have loans as high as € 30,000 under the status of a student, as long as I have a guarantor - which I would also have in the UK.
    Do you mean your gf? Does she live in the UK and own property with equity in it?
    Point is a guarantor need to be a viable alternative who they can recover from if you defaulted.
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    (Original post by john2054)
    I am aware that every credit application you make, will temporarily affect your credit score. But that being said, it is better to have an account with a uk bank, then none at all. And even if you can't get a credit account, it will still be worth having a basic account, if you hope to visit the uk some point later as a student. Although, if you are able to get a place, you will be elligible for the £10k funding, but i can't promise any more than this right now, sadly. The banks have really clamped down on who they are lending to!
    Thanks a lot anyway, I was just really wondering because in France for example it is rather easy to afford high tuition fees when you prove that you have no means of paying for the university, which is my case. Now I am actually very concerned with all the UK students that must face the same situation!
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    The link about the 25k PhD loan said it's for English students in 2018, so irrelevant for your purposes.

    With no credit history or ties to the UK I doubt whether anyone will be prepared to offer you a loan - how do they know you won't just leave the country after your studies are over? Having a guarantor could help, although you'd be leaving them on the hook for a lot of money.

    If you've applied for all the scholarships you're eligible for you'll have to do what every other postgrad student does - go somewhere cheaper, get sponsorship from an employer or work and save up.
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    (Original post by 999tigger)
    Presumably they are expensive because they are in expensive locations , have high class staff to pay and the qualification will eanr you etra money in the job market and employability terms.

    I dont think you would make a good loan risk for a UK bank. Maybe your partner could take one out for you with a French bank?
    (Original post by 999tigger)
    Do you mean your gf? Does she live in the UK and own property with equity in it? Point is a guarantor need to be a viable alternative who they can recover from if you defaulted.
    Thanks!
    Indeed, that will be my last resource! Yes, I meant my fiancée, but you are right, it is much better to try to get a loan from France! For her it would be fairly easy to have such a loan in France, since there she has a mortgage and lives there since... ever. She has lived in the UK years ago but only for her masters. I just wonder if she could be a guarantor if she is employed in the UK...
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    (Original post by Duncan2012)
    The link about the 25k PhD loan said it's for English students in 2018, so irrelevant for your purposes.

    With no credit history or ties to the UK I doubt whether anyone will be prepared to offer you a loan - how do they know you won't just leave the country after your studies are over? Having a guarantor could help, although you'd be leaving them on the hook for a lot of money.

    If you've applied for all the scholarships you're eligible for you'll have to do what every other postgrad student does - go somewhere cheaper, get sponsorship from an employer or work and save up.
    Absolutely right! I will consider the courses at KCL and Queen Mary and definitely push harder on my applications throughout the EU.
    By the way, how is KCL and Queen Mary seen in the UK for accounting and finance? I have read really bad reviews about them but I refuse to believe and I really think they were way too biased...
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    (Original post by kasschaud)
    Thanks!
    Indeed, that will be my last resource! Yes, I meant my fiancée, but you are right, it is much better to try to get a loan from France! For her it would be fairly easy to have such a loan in France, since there she has a mortgage and lives there since... ever. She has lived in the UK years ago but only for her masters. I just wonder if she could be a guarantor if she is employed in the UK...
    You cna try, but imo I dont think so because she has no assets (unless she buys a house and has equity in it (they could then issue a charge on it) for security. More likely a bank in France wherby she can remortgage her house for you. That wya they have soemthing to go against if you default.

    You cna ask, but here she could leave the UK and then they would have no security.
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    (Original post by 999tigger)
    You cna try, but imo I dont think so because she has no assets (unless she buys a house and has equity in it (they could then issue a charge on it) for security. More likely a bank in France wherby she can remortgage her house for you. That wya they have soemthing to go against if you default.

    You cna ask, but here she could leave the UK and then they would have no security.
    Indeed!
    Btw, I asked above, do you know by any chance how good are KCL and Queen Mary in the UK regarding their postgrad courses in accounting and finance? Specially regarding job prospects after graduation? I have considered these two universities too but I read really bad stuff about them
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    (Original post by kasschaud)
    LSE's fees are at £32,880 for the next academic year, Imperial at £32,000 and Cass at £27,000.

    I can get that 10,000 loan from the UK indeed, but then I still have left around 20,000 to figure out...



    It also overwhelms me how much it costs to study Finance nowadays. It is like that all over Europe: I am also applying for HEC Paris and the tuition fees are at € 30,000. The difference is that in France they offer very good complete student loans for EU students at very good interest rates.

    Most of the greatest universities cost a fortune nowadays, of course I could go to study somewhere cheaper but I think it would be such a waste when I could learn from these great institutions (and the UK have many) after many years of hard work, a 95% GPA and a summa cumlaude.
    Can you send me the link tho these loans?
    I have just found out that I am not eligible for student finance even though I will be studying at a UK university in France.

    Please get back to me asap.
 
 
 
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