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Loans to study abroad
Hi All,
I have been planning on studying abroad (Greece) for a Masters due to start next September. Up until now I had been planning on applying for Erasmus+ funding as any repayments were deferred until 6 months after graduating. Recently I have been told this is no longer available and so I am looking for alternative options.
I have been looking into personal loans but, as it would need to cover 2 years of living costs, the loan amount required is reasonably significant - I estimate 15k in total. This amount along with the fact I would not be able to work whilst studying has left me with very few (if any) options that appear during searches on comparison sites. I currently have 5k in savings that I could use to cover monthly repayments during my studies, is this something companies would take into account on a loan application?
Any advice/suggestions would be greatly appreciated as I have no experience in loans!
A few additional points:
- I have a very good credit history (no debts/missed payments etc)
- I am unable to apply for the government masters loan in the UK due to already holding the qualification
- As an older student, taking a couple of years to work and save up is not really an ideal option although I understand it may be the only one!
Thanks in advance!
I have been planning on studying abroad (Greece) for a Masters due to start next September. Up until now I had been planning on applying for Erasmus+ funding as any repayments were deferred until 6 months after graduating. Recently I have been told this is no longer available and so I am looking for alternative options.
I have been looking into personal loans but, as it would need to cover 2 years of living costs, the loan amount required is reasonably significant - I estimate 15k in total. This amount along with the fact I would not be able to work whilst studying has left me with very few (if any) options that appear during searches on comparison sites. I currently have 5k in savings that I could use to cover monthly repayments during my studies, is this something companies would take into account on a loan application?
Any advice/suggestions would be greatly appreciated as I have no experience in loans!
A few additional points:
- I have a very good credit history (no debts/missed payments etc)
- I am unable to apply for the government masters loan in the UK due to already holding the qualification
- As an older student, taking a couple of years to work and save up is not really an ideal option although I understand it may be the only one!
Thanks in advance!
0
Comments
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No UK bank will give you a loan if you are not in receipt of a salary.0
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