Enroll in a master's degree in the UK now and get a loan of £10,000!
For the first time, for students enrolling in the 2016-17 academic year, the government in England is granting loans of up to £10,000 per student. The idea behind this loan is to provide students with financial support during their studies, both for tuition fees and for their everyday expenses.
General information:
The loan is worth a maximum of £10,000.
Any student enrolled in a master's program in the UK can receive it.
It applies to any type of master's program, including distance learning.
The loan is transferred directly to your bank account in England.
Applications for the loan open in the summer of 2016.
Who can get a loan?
Any European citizen under the age of 60 who is enrolled in a master's program in the UK.
Applicants who have not completed another master's program.
For distance learning programs, the student is required to live in England until graduation.
Loan repayment
Repayment of the loan will begin one year after completing the master's program.
For students who enrolled in a master's program in the 2016/2017 academic year, repayment will begin in 2019.
Repayment begins once income reaches the threshold of £21,000 for 2019/20.
The repayment amount will be 6% of income above an annual salary of £21,000.
The loan (or the remaining balance) will be written off (forgiven) 30 years after it became due.
You can get more information from an NGB Consulting consultant.