Loan advice urgently needed

lusa_2

Hi there,

I am an overseas student coming to study a one year PG course 2006/07 in UK. My funds are short by GBP 5000 (out of an estimated total cost of GBP 20,000); no collateral, no loan from my local bank. Is there any slim chance of getting an unsecured student loan in UK? My course is listed on SEGS, meaning I can work for one year in UK after graduation; this may allow me to repay the loan!
I know that while studying there, might be doing some donkey small jobs here and there on part-time of course; but the Visa Officer will reject my application if I do not have the proof that the total required amount has been raised!!!

Thanking U in advance.

Barcode

Is it possible for a trusted friend/relative to put the money into your account and then for you to print the statement out? After doing this, transfer the money back. I must stress, it must be somebody who you have a VERY good relationship with.

This is what I may do if no funding comes through. As long as you can pay the tuition fees it should be possible for you to find some way to manage with regards to living expenses.

The student loans company is a no-go for foreign students.

lusa_2

Thank U Barcode. The only best friend and relative I have is my other rib. I wish I had someone else. Remember, as U pointed it out, people are very, very suspicious; we're living in a world of 'trust nobody'.

Cheers

enjoyincubus

sorry lusa, sounds like you will have no luck trying to get a loan from a UK bank.

My experience is that they won't lend to people who are not UK residents, which by the sounds of it you would not be a resident until can prove you have enough funds. Also banks tend to not lend to students or those who are not in permanent employment.

If you think about it, if the bank in your country, who already know you, won't lend you money, then what are the chances that a UK bank will offer a loan to someone they do not know? It is all about risk and by the sounds of it the risk would be too great. You would not have any credit history, no residential address, no income and every chance that you may leave the country (although you may not have any intention of disappeaing and not paying the loan, statistically speaking there will be an increased chance you would not pay back).

Also, what country are you from? There are certain sanctioned countries who banks are not allowed to lend to e.g. Iran, Syria, Lybia etc

lusa_2

Nay, I am not from the red-carded countries. I know the risks which most banks avoid taking; but already your two replies have added some insight in my search. By the way, thanks for your contribution.

enjoyincubus

Sorry lusa, I know its a rubbish situation to be in and I wish there was more offer in terms of advice. The only thing you could do is try to get a loan in your own country, borrow the money off a friend or relative, or maybe save for a year and do the course next year. Which is such a shame as you have probably saved very hard to get the £15,000, its just the last £5,000 you need!

I really do hope something works out!

Just being nosey, but which course did you plan on doing and at which university?