A guide to student loans and funding for international students in the UK       

The UK is one of the most popular choices for students from different parts of the world and this place is home to some of the most prestigious universities. If you are one of those who is preparing to study in the UK, then there is a lot to prepare, especially when it comes to funding your studies. You must research all your funding options before you arrive to avoid any costly mistakes.

How to fund your studies? 

Family: Most of the international students are self-funded. Any funds from your parents, relatives, or anything that you have saved can be helpful. 
Part-time work in the UK: between the lectures and the time you spend studying independently, you need to make time for a part-time job. Getting some work across the UK is one of the best ways to enhance your experiences in the UK. Find out more about the work opportunities from the careers team. This can help you even to fund your  student accommodation in Wolverhampton. 
External scholarships: While the UK government and universities do offer scholarships, do not count on getting a full scholarship which covers all the tuition and also living costs. Most of the scholarships will cover only a percentage of the total cost of study. Some of the scholarships that you can look forward to are GREAT Scholarships, Chevening Scholarships, Marshall Scholarships, and Commonwealth Scholarships. 
University Scholarships: Lots of universities offer students with fully funded postgrad studentships. You can learn more from your selected university or the specialist website like Postgrad Studentships and Prospects. With scholarships, it becomes much easier to find the best student accommodation in Wolverhampton. 
International student loans: Students from different parts of the world love to study across the UK. That is not just because the top-notch universities are located here, it is also because Britain is one of the best countries that everyone wants to explore. Each year the number of student visa applications from India has enhanced. In September 2019, around 30,000 students from India received Tier IV visas. However, it is also one of the most exclusive countries to study and stay.

Education loan for the UK 

If you want to apply for an education loan for a Master’s across the UK or any other course, then you need to consider some of the factors before you take a loan:  

Processing time: Secured loans take longer time to process than unsecured loans. This can take anywhere between a week to two weeks for you to secure your loan. 
Repayment: Every bank has different repayment phases. Check that.
Expenses covered: Some financial institutions can cover all the study expenses. Others can cover a percentage of it. 
Moratorium period: This is the time provided by the bank before the repayment tenure begins. Banks generally allow between 6 months and also a year after the completion of the course for repayment.

Guide about how to get a student loan in the UK

First of all, look for the course and the college you select to choose

Estimate the amount you will require for academic or non-academic expenses across the UK

Check different loan options and pick one which is best for you. The loan processing time is relatively shorter.

When you select a lender, you need to fill out the bank’s loan application form.

You need to also provide other documents like ID, academic records, CAS letter, collateral documents, and Tier-2 or Tier-4 student visa.

Final Thoughts

If you are planning to move to Wolverhampton, then check out the loan options. you should also book a good  private student accommodation in Wolverhampton. One of the best accommodations is the iQ Fiveways House Wolverhampton. 