One of the most popular destinations for international students to study is the United Kingdom. It’s understandable why it’s such a popular option given its reputation for offering top-notch education, plenty of job opportunities for recent graduates, and proximity to some of the world’s best universities.
It makes sense that you’re wondering if there are international student loans, though, since tuition costs for international students in the UK are significantly greater than those for domestic students.Â
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This post will discuss:
- International students’ tuition fees in the UK
- Does the UK offer loans to international students?
- Loans for international students in your nation of origin
- Programs for International Exchange
- Grants and scholarships for international students
Table of Contents
UK tuition fees for international students
The annual cap on undergraduate tuition for UK students is £9,250; sadly, there is no cap on tuition for overseas students. This implies that tuition fees at universities are free to set their prices, which can differ significantly amongst institutions. Tuition for a year can range from £11,000 to £38,000 for certain courses!
Are there international student loans in the UK?
For academic assistance, UK students are eligible to receive both a maintenance loan and a tuition fee. According to Student Finance, if you were living in London and away from your parents, you would have received up to £13,022 a year for maintenance costs in addition to up to £9,250 for undergraduate tuition.
But, to be eligible for these loans, you must be a citizen of the United Kingdom and have been residing there for at least three years before the start of your course. Therefore, these loans are ineligible for international students, and regrettably, there are no other government loans available to them while they are studying in the UK.
The good news is that there are several funding options available to international students studying in the UK. We’ll talk about a few of these options below.
1. International student loans in your home country
You may be eligible to receive a student loan from your home country in order to study abroad, depending on your country of origin. For instance, if you’re an American student studying overseas, you may be eligible for a private study loan.
2. International exchange programs
While completing a semester or year abroad or taking part in an exchange program is a very different experience from completing your degree program in the UK, it can be a fantastic alternative. A semester or even a full year of study abroad may be covered by a student loan you receive back home. Furthermore, if you’ve never been to or lived in the UK, spending a semester there could help you determine if you want to return to study there in the future.
3. Scholarships, grants, and bursaries
Numerous foreign students who study in the UK can finance their education through scholarships, some of which are intended especially for foreign students. But keep in mind that the majority of these scholarships won’t pay for your entire living expenses and tuition. Keep in mind that the majority of these grants, bursaries, and scholarships are intended for PhD or postgraduate students rather than undergraduates.
What types of scholarships are available for international students?
For foreign students who wish to study in the UK, there are numerous scholarship options. Many, however, are extremely competitive and have fairly stringent entry requirements. The primary categories of scholarships will be discussed below.
- Scholarships for academia. These are given to overseas students who maintain a strong academic record and receive excellent grades.
- Scholarships based on subjects. These are given to students who excel in a particular subject. Usually, the pertinent university department offers them.
- Scholarships determined by performance. These are given to students who excel in a certain activity, such as drama, music, dance, or sports.
- Scholarships for people with disabilities. These are provided to assist international students who need additional support, have a disability, a long-term medical condition, a mental health issue, or have difficulty learning.
- Scholarships particular to a nation. International students from a specific nation or region are given these. They’ll probably come with additional qualifying conditions.
- Scholarships for sanctuary or equal access. Refugees and asylum seekers who have fled persecution in their home country are eligible for this financial assistance.
Undergraduate funding for international students
Scholarships, grants, bursaries, and fee waivers are available to international students from universities, private organizations, and charitable organizations. Visit the website of the university of your choice or use our platform.
Postgraduate funding for international students
There are numerous government-sponsored scholarship programs available to postgraduate students who want to study in the United Kingdom.
The three primary scholarships offered by the UK government are:
- GREAT Scholarships. Students from 14 different countries can apply for these scholarships in a variety of subject areas. For postgraduate courses that last one year and are taught, they contribute £10,000 toward the tuition costs.
- Chevening Scholarships. One of the most prominent and fiercely competitive international scholarships is this one. It offers complete funding for master’s programs in the UK, covering living costs, tuition, and round-trip airfare.
- Commonwealth Scholarships. Commonwealth students who otherwise would not have been able to afford to study in the UK can now apply for these scholarships.
PhD funding for international students
For overseas students studying in the UK, there are many funding options available for PhDs. PhD studentships and PhD scholarships and grants are the two main types of PhD funding available to you.Â
Everything you need to know is covered in our comprehensive blog post, “PhD funding for international students.”Â
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Do you want to study abroad? Note that obtaining a bachelor’s degree or a master’s degree in this field helps to improve your chances in the labor market. Studying abroad is no joke for international students due to the cost. However, you can achieve your dreams without breaking the bank by applying for student loans, which you can pay for as long as 10 years.
MPower Finance and Prodigy Finance are some of the best student loan providers for international students. They also do not require a cosigner or collateral before an application. Reach out to us today, and let’s help you get started.
Read Also:
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Crowdfunding for Education: A Guide for International Students
