Student loans

Going to college can be an expensive experience for many students. Parents help out as much as they can but it can be too much for them sometimes. This is why many people seek out student loans to help them get through the few years in college. There are plenty of places where student loans can be obtained. It is important that you fully understand the loan agreement before you sign it.

The Student Loans Company is a public sector organisation that is responsible for approving loans to over 1 million students in the UK annually. The main types of loans approved by the Student Loans Company are tuition fee loans which cover the cost of tuition fees and maintenance loans which cover the cost of living expenses. There are also various grants, bursaries and scholarships which can be applied for by students. Students can also get extra help if they have children or adult dependants, or have a disability or specific learning difficulty.

What makes loans so attractive from the Student Loans Company is that they do not have to be repaid until the student has left college and is earning more than £15,000. The loans accrue interest at the rate of inflation so that repayment is exactly the same as the amount borrowed.