The Student Room Group

Need Reputable Loan Provider

Hi all,

I am doing a two-year part-time master's at Cambridge University and, coming from a poor family, I unfortunately need to take out a loan. I cannot use Student Finance UK because the next time slot is not until September, 2016. I need to pay for tuition due on January 1st!

I am an American student, but I also have a British passport. I would prefer to use a UK loan provider because ones in the US, like Sallie Mae, are extortionist.

What are some reputable loan providers that people recommend in the UK??

Thanks! :smile:
Original post by Beer Pong
Hi all,

I am doing a two-year part-time master's at Cambridge University and, coming from a poor family, I unfortunately need to take out a loan. I cannot use Student Finance UK because the next time slot is not until September, 2016. I need to pay for tuition due on January 1st!

I am an American student, but I also have a British passport. I would prefer to use a UK loan provider because ones in the US, like Sallie Mae, are extortionist.

What are some reputable loan providers that people recommend in the UK??

Thanks! :smile:


Have you asked your bank if you would be eligible for a career development loan?
Reply 2
Original post by claireestelle
Have you asked your bank if you would be eligible for a career development loan?


I called Santander and their interest rates are 14%! Are there any banks that offer reasonable CDLs?
Original post by Beer Pong
I called Santander and their interest rates are 14%! Are there any banks that offer reasonable CDLs?


Apparently barclays and co-ops loans are 9.9% but otherwise I have no idea.
Few places will provide funding to postgrad students, unfortunately. Have you tried all the scholarships and welfare funds available to you through the university and college? Do you have savings? Are you working? Did you consider fees when you decided to take up the place? How did you plan to pay the fees when you started the course - you would have known what was due and when, surely? Lots of British students have to decline offers due to a lack of funding. It's tough for us all out there. Good luck.
Reply 5
Student Finance isn't available to overseas students from outside the EU, so things wouldn't change next September (when postgraduate loans are due to begin). As a non-UK resident, you can't get a Professional & Career Development Loan (the Barclays/Co-Op Bank loan mentioned above).

I'm afraid you need to look to US-based study loan providers.

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