Loans

Loans

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Student Loan question?

Hi guys,

I am due to start University next year (2013) and I had a question about how the loan works.

The Uni I am applying at gives Scholarships as well as Bursaries in the form of fee waivers for exceptional students. If after the fee waiver my tuition fee cost for the year goes down to say £7000 will I still get £9000 as a Tuition fee loan?

I ask because at the end of my degree I would like to continue it as a Masters and due to lack of choices of funding for Post Graduate degrees I was wondering if this is possible?

For example:

Get a loan of £9000 3 times for 3 years = £27,000
Minus Fee Waiver over 3 years = £21,000

If that is actually possible then I may be able to save for my MSc! Please tell me if this is possible or not?

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Comments

  • Darkhawk wrote: »
    Hi guys,

    I am due to start University next year (2013) and I had a question about how the loan works.

    The Uni I am applying at gives Scholarships as well as Bursaries in the form of fee waivers for exceptional students. If after the fee waiver my tuition fee cost for the year goes down to say £7000 will I still get £9000 as a Tuition fee loan?

    I ask because at the end of my degree I would like to continue it as a Masters and due to lack of choices of funding for Post Graduate degrees I was wondering if this is possible?

    For example:

    Get a loan of £9000 3 times for 3 years = £27,000
    Minus Fee Waiver over 3 years = £21,000

    If that is actually possible then I may be able to save for my MSc! Please tell me if this is possible or not?

    Under the current system the tuition fee loan gets paid straight to your uni so presuming that is staying the same then no, you will not be able to use the money for anything else. :)
  • Ahhh! :/

    That's okay I guess, atleast I know for sure that it isn't possible, thank you :) How does one get funding for MSc's then? Are most sponsored by employers/ future employers?
  • Darkhawk wrote: »
    Ahhh! :/

    That's okay I guess, atleast I know for sure that it isn't possible, thank you :) How does one get funding for MSc's then? Are most sponsored by employers/ future employers?

    Depends on the MSc. some will be sponsored and some may have bursaries but some are completely self-funded.
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  • Msc Maths :D
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