Navigate Passion and Finance with BHE
UNI for the Perfect Undergraduate Degree
Who Can Apply?
If you want to get any student loan, you must fill up one of the following criteria:
- A citizen of the United Kingdom
- A European Union citizen who can leave for at least five years or as long as he/she wants
- A non-United Kingdom/European Union individual with permanent residence approval or right to stay as long as he/she wants or owning humanitarian protection/refugee status stays in the UK.
- A husband or wife of a United Kingdom/European Union citizen
- Didn’t complete any undergraduate or postgraduate degree from the UK
- Should be a minimum of 18 years old. There is no maximum age restriction for tuition fee loans.
How Much Can I Get?
Adult Dependent's Grant
additional financial support. There is no obligation to reimburse.
Parents' Learning Allowance
If you are a mother or father of one or several children and your kids’ age is below 18, you will get an additional money of up to £2,094. But you won’t get it unless you are a full-time student.
There is no obligation to reimburse this parent learning allowance. It won’t be included in your tax credit profiles.
Learn more about parents’ learning allowance from this website: https://www.gov.uk/parents-learning-allowance
Childcare Grant
If you are a mother or father of one or several children whose age is below 17 or 15, you can apply for a childcare grant.
A parent with a single child can get up to £206 per week.
A parent with several children can get up to £354 per week.
The core aim of this special childcare grant is to provide special education to children whose age is below 17 or 15.
Parents will get this additional money apart from the regular student loan. There is no obligation to reimburse this grant.
Repaying Your Student Loan
Once you complete your course or discontinue the course before completion, you are entitled to pay a certain amount.
You must follow the repayment threshold, which implies a certain level of income. The present UK limit is £33,332 annually, £2,774 monthly, or £639 weekly.
For instance, if your monthly income is £2900 before tax, you must pay around £11.34 per month. You are earning £126 more than the limit. The interest rate is 9%. So, £11.34 is 9% of £126.
If you are still confused, check out this table to get a better overview of it.
| Annual Income Before Tax | Monthly Salary | Monthly Repayment |
|---|---|---|
| Up to £33,332 | £2774 | £0 |
| £34000 | £2833 | £5 |
| £35000 | £2917 | £13 |
| £37000 | £3083 | £28 |
| £39000 | £3250 | £43 |
What Is A Second-Degree Loan?
A second-degree loan is special funding for students who have already obtained an undergraduate or postgraduate degree from the UK or any other country but want to get a new educational degree from another subject.
You can’t get a second-degree loan for all subjects. It is limited to a particular list of subjects. These selected courses aim to enhance the skilled workforce in specified industries. Plus, you need the Government’s approval to study this subject in the UK.
How Does A Second Degree Loan Work?
Students must use Student Finance England (SFE), which is a main service provider of Student Loans Company, to request a loan for a second-degree loan. You may have a similar to it while getting the first-degree loan.
Once the student loan company accepts your request, you are entitled to get the funds. They will pay your course fees directly to your university or college where you are doing your second degree.
Am I Entitled To A Second Degree Loan?
There are some limited situations that make you eligible for a second-degree loan. Apart from fulfilling some standard criteria for a second-degree loan, you must conform to either of these statements:
- You are studying as a part-time student in an honours degree in engineering, science, nursing or technology.
- You are applying to a healthcare course after 1 August 2017. However, any dental therapy and dental hygiene are not included in this list.
How Much Money Can I Borrow For My Second Degree?
The sum borrowed for a second degree relies on various factors. You are only getting this financial support to pay the tuition fees. There won’t be any loan for the living expenses when you are doing a second degree. If you are getting a second bachelor’s degree, the loan amount can’t be more than £57,500 in your lifetime as per federal student loans. But subsidized student loans can’t be more than £23,000.
Indeed, you must repay the entirety of the borrowed funds along with interest. It doesn’t matter what grade you attain from the courses. However, Student Finance England (SFE) offers student-friendly loans at competitive prices. Students will get enough flexibility to repay the loan based on their financial circumstances.
What Courses Can You Get A Second Degree Loan For?
It is a bit of a hassle job to get a loan for a second degree in the UK. However, you can effortlessly get a loan for some specific subjects
compared to others. After all, the Government designates eligible subjects for limited funding approval.
Visit the official government website to learn which subjects you are entitled to get student loans easily. You can check out the Open
University website. It clearly mentions the particular subjects you can get a loan for some specific degrees. Plus, a huge number of students
have an inclination toward STEM subjects, particularly emphasizing the sciences.
Can I Use A Second Degree Loan For Any Courses Offered Through BHE Uni?
Some of our programs are open to individuals intending to finance studies using a second-degree loan. You will be happy to learn that Student Finance England (SFE) provides financial support to study in the following courses.
To Find Your Preferred Financial Options and Get More
About Our Service, Go To:
ask@bheuni.io for additional details. Or submit your course application today, and an admissions
advisor will contact you to explore your study possibilities.