Loans

7 Best International Student Loans In The UK

4 Mins read

The United Kingdom provides the best educational experience for international students, as it has some of the top-ranking universities and colleges in the world. Studying in the U.K has several benefits like a worldwide recognized certificate, international exposure, and network building. However, studying in the UK is expensive; international students always look for ways to get their education funded by applying for scholarships, grants, and other financial assistance from the government, high educational institutions, and non-governmental organizations. That is why getting an International Student Loans in the UK is necessary.

If you are an international student with a dream of studying in the U.K, applying for International Student Loans in the UK will help you realize your goals and get International Student Loans in the UK by contacting private student loan lenders across the U.K.

We will discuss the best 7 International Student Loans in the UK available to aid you in pulling through school in this article, considering the interest rate, loan amounts, and repayment schedules.

The best 7 International Student Loans in the UK include:

1. Future Finance

Future Finance is one of the best International Students Loans in the U.K. It is a private lending company that is not affiliated with Student Finance. Future Finance offers different loans for individuals and families. International Student Loans in the UK require a guarantor who must be in the U.K. or a permanent resident. Borrowers can get loans of £2,000 to £40,000 with a 19% approximate.

The loan can be paid back in 7 to 10 years, and there are no penalties for early payment, but you will be charged an establishment fee. To qualify for this loan as an internal international student, you must be residing in the U.K., enrolled in any of the universities or colleges in the U.K., and be at least 18 years old.

International Student Loans In The UK

Photo credit: St thomas university

2. Lendwise

Lendwise is a private loan provider, and one of the best International Students Loans in the U.K. Lendwise is committed to education finance for U.K. residents looking to fund their postgraduate, short courses, or professional qualifications at top U.K. universities. Its interest rates are very competitive and range from 5% to 10%. The amount which can be borrowed is £1 000 at a minimum and can be paid within 1 month to 10 years.

Most borrowers do not pay principal in the first 6 months and repay the loan, and there is no consequence for early repayment and no repayments while in full-time study. Application for Lendwise International Students Loans in the U.K. is online, and you will be eligible for the loan if you are above 18, residing in the U.K., and own a bank account in the U.K.

3. Prodigy Finance Student Loan

Prodigy Finance is one of the international student loans in the UK, and it doesn’t require collateral or a co-signer. The loan service partners with many schools and borrowers must be students in any of these schools to qualify for the loan.

The loan is limited to programs like business, law, public policy, health, technology, science, engineering, and math professions. The amount that can be borrowed is Loan Amounts: $15,000 at minimum. Borrowers have three repayment term options, and payments are automatically deferred while in school. It charges a 4% administration fee on every loan, but there are no application or prepayment fees.

4. HSBC Student Loan

HSBC student loan is one of the top international student loans in the UK that provides unsecured personal loans to undergraduate and graduate students. The loan is for citizens and international students, starting from £3,000 to £40,000, and has fixed monthly repayment terms. The students can use the loan for study expenses like tuition, books, materials, etc. Its interest rate falls within the competitive range of 9.50% to 15.99% yearly. The application process is not complicated far you meet the basic requirements for the loan.

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5. CUJ Loans

CUJ Loans offers loans to international students who meet its eligibility criteria for short-term purposes. It is generally created for those who have a regular income. It is assumed that students are often employed on at least a part-time basis, making a short-term student loan possible. The loans available are within £100 – £5,000 and interest rates between £9.3% to 49.9%. There are different repayment options from 3 months to 36 months. The loans are given as soon as you apply for them.

6. The Global Student Loan

The Global Student Loan is a complete international and distance student study loan that doesn’t require a co-debtor from another country. Their commitment to you stems from their belief that education is the best investment an individual and a society can make. Most importantly, the Global Student Loan offers non-US citizens the opportunity to get a world-class education. By giving loans to international students who are not U.S. citizens, the Global Student Loan Corporation is helping to bring the world to school.

7. Hardship Funds

Many educational authorities in the U.K. offer international student loans to in the U.K., allowing them to take a loan from their hardship fund. These rates are mostly more affordable than many other options on this list. As such, checking whether your college or university provides this before exploring other options is advisable.

Conclusion 

There are quite a few opportunities in the U.K. for international students that help them achieve their educational aim. However, international students have limited options when looking for international student loans in the UK. This is so because the U.K. government offers student loans to its citizens, and E.U. citizens are treated as U.K. citizens.

The universities do not offer student loans, but they do for some countries like the U.S. (not all). Finding student loans might be difficult for international students, as observed. The above are some of the organizations you can contact to get international student loans in the UK. We hope this article on the Best 7 International Student Loans in the UK will help you get a loan to study in the UK. Kindly comment your view on this guide on the Best 7 International Student Loans in the UK.

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