An educatonal loan is cash it is possible to borrow to simply help buy your living expenses while at university or college.
Whether you will get education loan relies on:
- Your university or college
- Your program – you truly must be learning an increased training course
- Your actual age – you need to be under aged 60 in the very first time of this first scholastic year of one’s program
- In the event that you meet a collection of conditions understood as ‘residency criteria’
Advanced schooling’ means courses that are Higher National Certificates (HNC), Higher nationwide Diplomas (HNDs) and degrees.
The actual quantity of education loan it is possible to borrow is ‘income-assessed’ therefore it is based on your ‘household earnings’.
The very first time regarding the first educational year of the program will change based on when you begin your studies.
|Your study starts between||The scholastic 12 months begins on|
|1 August and 31 December||1 August|
|1 January and 31 March||1 January|
|1 April and 30 June||1 April|
|1 July and 31 July||1 July|
Just how to apply
You can easily make an application for your education loan whenever you make an application for other pupil finance (as an example tuition costs) or individually.
You are going to simply be able to get a loan all the way to ВЈ4,750 when your household earnings is much more than ВЈ34,000 per year.
To utilize you need:
- SAAS guide quantity if you have used before
- Nationwide Insurance quantity – you’ll find this on the Nationwide Insurance Card, benefit page, payslip or P60
- Your money details
- Course name as well as the college title you are trying to get
- Documents demonstrating your household income when your home earnings is ВЈ33,999 or less
When your home earnings is ВЈ33,999 or less, you will need to fill out your family earnings part of the applying. In https://speedyloan.net/payday-loans-or case it is ВЈ34,000 or even more, it’s not necessary to fill this section out.
You use regarding the learning student Awards Agency Scotland website once you’ve create a merchant account
Head to theвЂЇ’Login’ element of the SAAS websiteвЂЇвЂЇand begin application.
Take time to fill your application out properly as errors could postpone the job.
The SAAS can be used by you document upload service to deliver scanned copies of the papers. You will have to register to your SAAS account to work on this.
Apply by post
If you do not like to apply online, you’ll install a loan application and post the applying to:
Scholar Awards Agency ScotlandSaughton HouseBroomhouse DriveEdinburghEtitle1 3UT
When you should use
You ought to use as soon as feasible to ensure that you get the cash from the beginning of the program. You certainly do not need your exam outcomes or perhaps a verified location to use.
That which you’ll get
The most loan you may get is ВЈ6,750 a 12 months. You will have to re-apply because of it along side all of your other pupil finance every year.
What goes on next
After you have used, you can examine the application’s progress by visiting your internet account.
Should your application is successful SAAS deliver an ‘award notice’ to your internet account. This may inform you exactly how much you shall get.
Other economic help
Once you have started your studies, there is certainly help and cash open to allow you to when you yourself have an emergency that is financial college.
Trying to repay your education loan
You spend your education loan right right right back once you have finished and also you’re working.
You simply need to pay it back when you’re making more than a certain quantity, referred to as ‘salary limit’. Just how much you spend a depends on how much you earn month.