Many students studying in the UK do not come from wealthy families, so they will consider taking out a loan. So, how do you apply for a loan to study in the UK? Here are some tips on how to apply for a loan to study in the UK.How to apply for a loan to study in the UK?Application process for studying in the UK, ,Applying for a school in the UK, ,Application requirements for undergraduate studies in the UKThe problem.
How to apply for a loan to study in the UK?
1. How to apply for a loan to study in the UK?
1. If you want to apply for a UK study loan, you need to meet the following conditions:
1. The applicant must be between 18 and 55 years old and have full civil capacity;
2. Provide valid personal identification document and household registration certificate;
3. Have certain repayment ability and good repayment willingness;
4. Provide additional financial proof or provide a guarantee;
5. Provide relevant certification documents for studying in the UK, such as a UK school admission letter or other documents issued by the school;
6. Good personal credit and no record of illegal or disorderly behavior.
2. UK study abroad loan process guide
1. Loan Target
Applicants for study abroad loans are those who intend to study abroad, their immediate family members or their spouses.
2. Loan conditions
To apply for a study abroad loan, the borrower must have full civil capacity and must not be over 55 years old on the loan maturity date. The applicant must also hold an admission notice or other valid admission certificate from the school where the student is going to study abroad and a passport with an entry visa for the country where the student is going to study abroad. The applicant must have a permanent residence or other valid residence status in a controllable area, a fixed residence, a stable job and a source of income.
Applicants can choose the student himself as the borrower according to their own needs, or they can choose their parents or legal guardians as the borrowers. If the actual borrower is under the age of 18, his legal guardian should be the borrower. The borrower needs to have good credit.
Of course, the borrower must also provide property mortgage, pledge or third-party guarantee approved by the lender. The mortgaged property is limited to real estate that can be mortgaged; the pledged property is limited to government bonds, bank deposit certificates, corporate bonds and other securities; the guarantor should be a legal person or natural person with compensation ability and willing to bear joint and several repayment responsibilities.
3. Regulations on the amount and duration of UK study abroad loans
The amount of the loan for studying in the UK shall not exceed the application fee stated in the UK school's admission letter or other valid admission certificate, the total amount of RMB equivalent of tuition, living expenses and other necessary expenses within one year, not exceeding RMB 500,000, and the maximum term shall not exceed 6 years (including 6 years).
4. Application materials for study abroad loan
1) Your valid identity document, including your original passport and a copy of it for record.
2) The Admission Notice from the school you are attending, and the certification of the total amount of tuition and miscellaneous fees required during the student's study period issued by the school; if the loan is issued on a school year basis, you should produce the tuition and miscellaneous fee certification for the next year before the end of each school year.
3) If property is used as collateral or pledge, a list of collateral and pledged property and a written consent or statement signed by the person with the right to dispose of the property (including the property co-owner) shall be provided. For collateral, a value assessment report issued by the relevant department and insurance documents issued by the insurance department shall be submitted, and for pledged property, documents proving the rights shall be provided.
3. Things to note when taking out a loan to study in the UK
1. Diversified financial services promote loan services
At present, the overseas financial services provided by various banks have long gone beyond simple foreign exchange purchase and overseas remittance business, and various "one-stop" and "package" services have become the mainstream service models in the current market.
It is worth noting that the special services launched by different banks are very eye-catching. For example, ICBC's global quick remittance business; Bank of China, CITIC Bank and other banks provide overseas loan business; China Everbright Bank, China Merchants Bank and other banks provide overseas account pre-opening business; Bank of China's overseas account opening and foreign exchange overseas loan business; CITIC Bank's embassy visa agency business and agency sales of US visa appointment phone password cards, etc. The advantages of inter-bank special financial services are highlighted, making the competition in the overseas financial market increasingly fierce, and the diversified financial services industry has effectively promoted the continuous improvement of loan services.
2. Apply for study abroad loans as early as possible
When you have decided on the direction of studying abroad, you should start to consider the financial preparation for your child's study abroad. Currently, many families choose to take out study abroad loans to reduce the family's financial pressure.
Study abroad loans can be mortgaged with real estate, treasury bonds, certificates of deposit, etc., generally using the national benchmark interest rate, with a three-year term. The loan amount is estimated based on the borrower's overseas tuition and living expenses. The loan amount generally does not exceed 80% of the total tuition and living expenses of the borrower during the period of study abroad. It can also be appropriately increased to 90% of the total cost based on the borrower's situation and the collateral provided. The specific loan term, loan ratio and loan amount should be determined based on the borrower's expenses for studying abroad and the guarantee situation.
Generally, foreign institutions require funds to be deposited in a bank for a period of time as a deposit, and the bank will issue relevant certificates. Therefore, the sooner you apply for a study abroad loan, the better. Generally, you can apply for it 6 months in advance, and it takes about a week to successfully apply. Currently, there are not many banks in China that offer study abroad loan services.
3. Things to keep in mind when making loans
When applying for a study abroad loan, there must be a clear indication that the loan is for studying abroad. In addition, many banks currently provide study abroad loan services, but not all banks can provide an English version of the study abroad loan contract. This is also something that customers need to pay attention to when applying for a study abroad loan. If there is no English version, it may be a bit troublesome when applying for a visa. At the same time, we must try our best to pay attention to our integrity when applying for a study abroad loan, and try to avoid using leveraged means to apply for a loan. After all, the fundamental purpose of customers coming to apply for a study abroad loan is to go abroad, and integrity is still the first priority.
4. You need to know the information in advance when applying for a study abroad loan
Study abroad loans refer to loans in RMB or foreign currency issued by banks to borrowers to support students in paying tuition and living expenses during their study abroad.
2. UK study accommodation guide
1. Homestay
Initially, it was a form of guardianship accommodation for underage students. Now it has developed into a more common accommodation option. Students of all ages can submit their accommodation applications through schools or institutions.
The family will provide students with accommodation and catering services, or they can apply to use the kitchen to cook for themselves. If they can get along well with each other, they will have the opportunity to participate in family gatherings and social activities, which is very helpful for everyone's adaptation.
However, there will be certain troubles, because as outsiders, international students can only adapt to the internal rules of the family. At this time, they must actively communicate and exchange, make sure that their opinions can be conveyed directly, and get along more friendly.
2. School Dormitory
Dormitories will be the first choice for freshmen, and everyone’s application will be given priority. Basically, as long as you receive the offer confirmation, you can make a formal application, and the possibility of successful approval is very high, and everyone can move in smoothly.
Dormitories are generally double or multi-person rooms. Some require shared bedrooms, while others have separate bedrooms, but generally require shared bathrooms. While you can build good relationships, you also lose a certain degree of privacy. However, overall there are still many advantages.
3. Off-campus housing
Since living on campus does not have much cost advantage over renting a house, and may even be more expensive, most students choose to move out after their freshman period. The difference lies in whether they rent a house alone or share it with others.
When looking for housing, you must find it from a reliable platform. Introductions from schools and friends are good, and you can also go to professional rental agencies to get effective information. You can find a more suitable house by spending money. Of course, you can also consider sharing a house.
The advantage of renting a house is that you will have a relatively private space. Even if you share the house with others, you will have your own bedroom. In addition, a kitchen is standard in rented houses, so you can cook for yourself and save money.
3. Safety tips for studying in the UK
1. Accommodation safety tips
Most of the school dormitories are managed by dedicated personnel. In case of accidents, there is usually an emergency notification system or security personnel can quickly rescue you, so you don’t have to worry too much about the safety of living. However, although living in a school dormitory is relatively safer, you still need to be careful with your personal belongings. Most of the dormitories in British universities are shared by four to twelve people, so it is more complicated to have many visitors.
If you are assigned to a dormitory shared by many people or you have not yet fully known your roommates, you should carry your keys and lock the door when you leave the room, whether going to the bathroom or answering the phone. In addition, British dormitories do not always separate dormitories by gender, so female students must also be wary of sexual harassment or sexual assault. If you have any concerns in this regard, report it to the school immediately.
In addition to school dormitories, if you want to experience real British family life, or if you cannot apply for school dormitories for some reason and need to rent a house outside, choosing an off-campus dormitories is a decision that needs to be made with caution and care. In addition to understanding your roommates, the safety and convenience of the neighborhood, as well as the rights and regulations related to renting a house, are all personal and practical issues.
When looking for accommodation on your own, you should try to avoid the aforementioned areas with poor public security. As for which areas in the city are considered to have poor public security, you should consult with former seniors, the accommodation consulting office, or the international affairs office as soon as possible.
2. Safety tips for going out
In addition to the school, community and nearby cities, traveling in or outside the UK is also an important part of studying abroad. Just like living in China, whether living in a big city or a small town, it is important to be familiar with and understand your own environment.
Do not carry too much cash when going out. Keep your money in separate places. If you usually carry a handbag, do not put important documents such as cash and passport in the bag. Be alert when getting on and off public transportation.
Many people go to study in the UK away from their parents. While integrating into local life, they must also protect their own safety and pay attention to safeguarding their legal rights.
3. Common knowledge about work safety
In the UK, working in British-run companies, such as restaurants, hotels, and public hospitals, is safe. Generally, the positions that international students choose more are housekeeping, cleaning, and restaurant waiters, mainly because there are more jobs in these positions, and as long as you are willing to look for them, you can generally find a job. In the UK, you must also pay attention to obeying traffic rules, because traffic accidents often occur because you are not used to driving on the left.
How to apply for a loan to study in the UK? Summary
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