How to Finance University Education in the UK

University Spaces

You are sitting in the library one evening, and for one reason, you cannot read. Perhaps you cannot come around to the idea of giving up on your university education because of lacking school fees. No, you are not the type of person that gives up easily.

Indeed, it would be pointless for you to lose hope without trying different ways to finance your education. Understandably, you might not be conversant with all the options at your disposal.

Interestingly, we have multiple ways to finance education in the UK, whether you are an international student or a citizen. Here are some of the most effective methods to consider.

Student Loans

One of the most popular compromises among many students is a student loan. The United Kingdom prides itself on a comprehensive student financing strategy.

With this loan, you will get enough money to pay for not only your tuition fees but also living expenses. While at it, you could get extra money if you are from a low-income earning family or disabled.

But what are the terms for this loan? Usually, you will pay the loan after completing your studies, and perhaps earning. The repayment amount will be dependent on how much you make and not necessarily what you owe. The interest rate will apply from the day you take the loan.

For you to be eligible, you will need to have a residence permit. Further, you must be enrolled at an accredited institution. While at it, you could apply as an estranged student if you are below 25 and with no contact with your parents.

Apply for scholarship/s

Various merit-based scholarships will always be at your disposal. Often, you will get them once you meet particular criteria. Such could be being the best in sports, academics, achievements, talents, and affiliations.

These scholarships could come from the government, non-governmental institutions, foundations, or specific companies. You will also witness that some universities such as Oxford and Bristol offer them.

In most cases, you need to prove that you qualify to join a particular university before you get this scholarship. Sometimes, you will need to be conversant with a specific language, English, in this case.

Further, you will witness that there will always be a limit on the age of the student. In most cases, 25 would be the upper limit for undergraduate studies, while 35 would be for postgraduate studies. However, these limits vary from one scholarship to another.

Take the time to study the conditions of the scholarship before you can finally apply. For as long as you are confident about meeting the qualifications, you will be good to go.

Work as you study

Getting a part-time job is a move that you will hardly regret. It allows you to be not only financially independent but also more skilled. Usually, 10 to 20 hours a week will be good enough to raise sufficient money to supplement your other sources of finance.

Often, it would be advisable for you to opt for a flexible part-time degree during this time too. It is through this that you will hardly need to worry about inconveniences.

While you should raise enough money to support both your education and living expenses, your priority should be on excelling in your studies. Take the time to identify a job that will pay you enough yet guarantee you plenty of time to study.

Government Grants

You will always have the option of applying for grants from the UK government. This option is ideal after you find the student loan insufficient to cover all your needs. It comes in to cover various educational needs, including research in particular fields.

In most cases, you will access 159.59 and 273.60 Sterling pounds if you have one and two or more dependent children, respectively. Often, such children need to be below 15 years. However, there is an exception for children below 17 if they have special needs.

Did you know that we have a variety of grants for you to choose from? Compare what each of them offers before applying.

Final Words

To sum it up, indeed education has become relatively expensive in the recent past. However, supplementing with any of the options mentioned above will be helpful. Besides, you can choose to blend various possibilities at once.

Sharon

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