Student loans now available to part-time students

By Helen Gradwell

Students who are studying part-time (or through the Open University) will no longer have to pay for their studies upfront, The Guardian reports. They will be able to apply for a student loan to cover their tuition fees for the 2021/2013 academic year.

If you're considering part-time study at a publicly funded college or university, you'll be able to apply for a loan of up to £6,750. If you're considering applying to a privately funded institution you're entitled to less (up to £4,500).

As with current student loans, you're not required to start paying the loan back until you're earning at least £21,000. Repayments would be due to start in the April four years after the start of your course, or the April after you leave, depending on which comes first.

To qualify for a part-time student loan you'd need to be studying for at least 25% of the full-time equivalent per year. Basically, that means you cannot be studying for more than four times longer than if you were studying full time (so, up to a maximum of 16 years).

If you're interested in applying for a part-time student loan, you can ask your college / university for an application pack.

Tags: loan, loans, student loan, students

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