Student Finance

Hey I just wanted to ask, since you apply to Student Finance every single year of university. Are you allowed to have a normal loan for your first year and switch to alternative student finance in the next year when it becomes available?

Reply 1

Calum SLC

Official Rep

Hi lilaaaara,

Can you clarify what you mean by normal loan and alternative student finance?

Thanks,
Calum

Reply 2

lilaaaara

Original post by Calum SLC

Hi lilaaaara,
Can you clarify what you mean by normal loan and alternative student finance?
Thanks,
Calum

Sorry for the confusion. A normal loan as in the most common tuition fee loan taken by students with interest that you pay back after earning above a certain threshold. Then Alternative Student finance that is sharia-compliant, interest free and said to be available in 2025 or 2026.

Essentially what I'm asking is

Reply 3

lilaaaara

Original post by lilaaaara

"Are you able to pay your first year of Student loan with interest and switch to paying of the remaining years under Alternative Student Finance without interest?"

Thanks

Reply 4

Calum SLC

Official Rep

Hi lilaaaara,

Unfortunately, we don't have information if this would be possible yet as the Sharia complaint funding does not launch until the 25/26 academic year

Thanks,
Calum

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