An educatonal loan is cash you can easily borrow to simply help purchase your living expenses while at university or college.
Whether you could get a learning education loan is dependent upon:
- Your college or university
- Your program – you need to be learning an increased training course
- How old you are – you need to be under aged 60 regarding the day that is very first of first educational 12 months 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), Greater nationwide Diplomas (HNDs) and levels.
The total amount of education loan you can easily borrow is ‘income-assessed’ so that it is dependent upon your ‘household earnings’.
The very first time for the first educational 12 months of the program will change dependent on when you begin your studies.
| Your research starts between | The year that is academic 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 use
It is possible to make an application for your student loan whenever you submit an application for other pupil finance (for instance tuition charges) or individually.
You will simply be capable of getting a loan all the way to ВЈ4,750 if the home earnings is much more than ВЈ34,000 per year.
To use you may need:
- SAAS guide quantity if you have used before
- Nationwide Insurance quantity – you will find this on your own Nationwide Insurance Card, advantage page, payslip or P60
- Your money details
- Program title as well as the college name you are trying to get
- Papers appearing your home earnings if for example the home earnings is ВЈ33,999 or less
In case the home earnings is ВЈ33,999 or less, you will need to fill out your family earnings part of the applying. If it’s ВЈ34,000 or higher, you don’t need to fill this section out.
Apply online
You apply regarding the scholar Awards Agency Scotland website once you’ve put up a free account
Head to the ’Login’ part of the SAAS website  and begin application.
Take the time to fill down the job precisely as errors could postpone the job.
The SAAS can be used by you document upload service payday loans illinois to deliver scanned copies of one’s papers. You’ll want to register to your SAAS account to get this done.
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 need to use as soon as feasible to ensure that you get the cash at the beginning of the program. You do not need your exam outcomes or even a place that is confirmed use.
That which you’ll get
The utmost loan you may get is ВЈ6,750 a 12 months. You’ll want to re-apply for this along side all your valuable other pupil finance every year.
What goes on next
After you have applied, you should check the application’s progress when you go to your web account.
In case the application is successful SAAS send an ‘award notice’ to your web account. This may let you know simply how much you shall get.
Other monetary help
When you have started your studies, there was help and cash open to allow you to for those who have a monetary crisis at university.
Trying to repay your education loan
You spend your education loan right right back when you have finished and you’re working.
You merely need certainly to spend it back when you’re earning over an amount that is certain referred to as ‘salary limit’. Exactly how much you spend a thirty days is dependent on just how much you get.
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