Student Finance
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Hi. Im going uni next year and just confused and cant find answers to some of my questions online about student loans etc. Is it possible to only have student finance fund like 1 or 2 years of uni (undergrad 3 year course) if you can pay for the first year or 2 by yourself? And does the interest gain on the loan start as soon as you get the funds or after you graduate?
Thank you
Thank you
Reply 1
Hi,
Student loans are paid to the university at the start of each academic year, so you should be able to decide to only take 2 of 3 years. I would suggest still contacting Student Finance to make sure before you apply.
You can contact them here: www.gov.uk/contact-student-finance-england
Interest on the loans starts as soon as the loan is issued to you/your university, and will accumulate even while you begin repayments.
Hope that helps
Student loans are paid to the university at the start of each academic year, so you should be able to decide to only take 2 of 3 years. I would suggest still contacting Student Finance to make sure before you apply.
You can contact them here: www.gov.uk/contact-student-finance-england
Interest on the loans starts as soon as the loan is issued to you/your university, and will accumulate even while you begin repayments.
Hope that helps
Original post
by RFXHi. Im going uni next year and just confused and cant find answers to some of my questions online about student loans etc. Is it possible to only have student finance fund like 1 or 2 years of uni (undergrad 3 year course) if you can pay for the first year or 2 by yourself? And does the interest gain on the loan start as soon as you get the funds or after you graduate?
Thank you
Thank you
You reapply for student finance for each year of your course, and you will have the option to decline the loans in your online account if you decide you don't need/want them. Interest is charged from the day the loans are paid.
Have a read through the following article before you make any decisions about self-funding:
https://www.moneysavingexpert.com/students/student-loans-england-plan-5/
Original post
by RMS23Hi,
Student loans are paid to the university at the start of each academic year, so you should be able to decide to only take 2 of 3 years. I would suggest still contacting Student Finance to make sure before you apply.
You can contact them here: www.gov.uk/contact-student-finance-england
Interest on the loans starts as soon as the loan is issued to you/your university, and will accumulate even while you begin repayments.
Hope that helps
Student loans are paid to the university at the start of each academic year, so you should be able to decide to only take 2 of 3 years. I would suggest still contacting Student Finance to make sure before you apply.
You can contact them here: www.gov.uk/contact-student-finance-england
Interest on the loans starts as soon as the loan is issued to you/your university, and will accumulate even while you begin repayments.
Hope that helps
The tuition fee loans are paid to the university. Maintenance loans are paid to the student's bank account.
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