Student Loan  2018 – 2019

1) The real situation

  • Education in the UK was and continues to be the lever of growth in the British economy
  • The UK Government, wanting to put an end to the uncertainty of EU students likely to be studying at UK universities, confirmed on 21/4/2017 with an official announcement that both undergraduate and postgraduate students to be introduced for the academic year 2018-2019, will be awarded the student loan.
  • Student Loan covers the total amount of tuition fees for the years of study, regardless of the time of UK exit from the EU.
  • EU students are eligible to apply for Doctoral Programs from the Research Council of the UK institutions for the years 2018-2019, to cover the costs during the study.
  • Science Minister Jo Johnson stated that “Through our modern industrial strategy and the additional £ 4.7 billion money to be invested in research and innovation for the next 5 years, we guarantee that the UK has the skills and environment it needs to continue to lead the academic field and research”.
  • Student Loan for Bachelor Degree: £ 9.250 for each year of study deposited directly to the University’s bank account.
  • Student Loan for Master Degree: £ 10,000 total for the entire Program of Study deposited in the student’s bank account.
  • Students may apply for the loan if they opt for a credit or research course.
  • MA, MSc, MRs, MBA, MEd and LLM are the Postgraduate Programs covered by the loan.
  • If you already hold a Master’s degree and wish to start another Master’s Degree, the loan is not approved.
  • The loan covers students enrolled in full-time, part-time and distance programs.
  • The duration of the Full-Time course cannot exceed 1-2 years and for Part-time 4 years.

2) The Global Team

Based on 20 years of experience and knowledge, it helps the student to successfully complete the process correctly and in a timely manner.

However, in order for students to receive financial support for graduate, postgraduate or advanced learning for the academic year 2018 -2019, they should follow the following tips.

Valuable Global Team Advice to Settle the Application:

  • The Application Form must be filled in correctly and clearly in all fields and with the utmost care so that the student’s details are read correctly.
  • If the application is not filled in the specific fields then the process will take longer.
  • If it is not submitted within the timeframe set, then there is a risk that the entitlement of the application for that year will be lost.
  • Defined conditions are set for the student to be accepted for the postgraduate study loan.
  • We provide the entire service of successful and effective completion of the UK loan as part of the University placement service we provide. The service is also offered independently for those who have already submitted the application to the Universities, but they need guidance to settle the application.

3) How Student Loan repayments are calculated

By the term payment period we mean each time you receive your salary.

This could be every Week or Calendar month

The pay limit is: £ 480 per week, £ 2.083 per month, £ 25.000 per year

You pay 9% of your income above the limit.

How to calculate the amount of your monthly repayment

Remove £ 25,000 from your annual salary before tax

Run 9% of the balance

Separate the number by 12

For example, if you receive £ 30,000 per year:

30,000 – 25,000 = 5,000 9% from 5,000 = 450 450/12 = 37,5 is rounded down

So, your monthly student loan repayment will be £ 37

Example of repayment amounts

Annual Income before Tax                Monthly Salary                           Montly return

Up to    £ 25.000                                                    £ 2.083                                         £ 0

£ 27.000                                                                  £ 2.250                                         £ 15

£ 30.000                                                                  £ 2.500                                         £ 37

£ 35.000                                                                  £ 2.916                                         £ 74

£ 40.000                                                                  £ 3.333                                         £ 112

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