Struggle of student loans

Hey guys, so I Muslim and in my religion I can’t take an interest based loan. This has been a big struggle for me as I want to go university. I’ve heard in England they might come out with a loan in which I can take without interest. I seen it on GOV uk. I may have to take a year of uni without taking the interest based loan. How hard is it to self fund?

Reply 1

Clearing and Applications Advisor, Universities Forum Helper

Unfortunately the government has been promising this since 2012 and have now linked it to a highly complex reform called LLE (which has already been delayed once to 2027 and is very likely to be delayed further). I wouldn’t recommend relying on this being brought in on time. LLE loans will only be available to new students so if you start your degree under the current system it’s not likely that you will be able to switch.

Depending on your expected earnings post-degree it is likely that you will not repay any interest on your loan. Especially if you have the maximum loans for fees and living costs - the bigger the loan the less likely that you would repay the borrowed amount within the repayment period.

(edited 1 year ago)

Reply 2

Khairounn_

Original post

by PQ

Unfortunately the government has been promising this since 2012 and have now linked it to a highly complex reform called LLE (which has already been delayed once to 2027 and is very likely to be delayed further). I wouldn’t recommend relying on this being brought in on time. LLE loans will only be available to new students so if you start your degree under the current system it’s not likely that you will be able to switch.
Depending on your expected earnings post-degree it is likely that you will not repay any interest on your loan. Especially if you have the maximum loans for fees and living costs - the bigger the loan the less likely that you would repay the borrowed amount within the repayment period.

Think you so much for this! I’m planning on living at home when studying I think for one year it will be like 9k and something. I might take a gap year and try work as much as a can but even then it will be so difficult