Nowadays, more and more students are studying in the UK, but the cost of studying in the UK is also a big pressure for some families with limited financial resources. What can we do? Loans are a good choice.Tips on applying for a UK study loanUK student application, ,Undergraduate application to study in the UK, ,Apply to study in the UKThe problem.

Tips on applying for a UK study loan

1. Tips on applying for a UK study loan

1. UK study loan conditions:

1. Domestic banks have clear regulations: To apply for a study abroad loan, the borrower must have full civil capacity (over 18 years old) and must not be over 55 years old on the loan maturity date.

2. Applicants should also hold an admission notice or other valid admission certificate from the overseas school where the applicant intends to study and a passport with an entry visa for the country where the applicant intends to study is located.

3. You should have a permanent residence or other valid residence status in the controllable area, a fixed residence, a stable occupation and a source of income (if you do not have any, fill in your parents).

4. 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 18 years old, his legal guardian should be the borrower. The borrower needs to have good credit.

5. Have no bad credit or illegal behavior, be in good health, and have the moral character of honesty and trustworthiness;

6. If the loan is made by a direct relative, legal guardian or spouse of an overseas student, he or she must have a fixed residence, a legitimate occupation, a stable and reliable income, good credit, and the ability to repay the principal and interest of the loan on time.

2. Application Materials for UK Study Abroad Loans

1. Original and photocopy of the borrower and spouse's ID card, marriage certificate, household register or valid residence certificate issued by an authorized institution;

2. Admission notice, acceptance letter and other valid admission certification materials issued by the school you plan to study in, as well as proof of necessary expenses, and your academic qualifications;

3. A passport of the People's Republic of China with a completed entry visa application to the country where the school you plan to study in is located;

4. Provide a Chinese citizen with civil capacity as the borrower's domestic agent, and provide the domestic agent's ID card, relevant residence certificate and communication address;

5. In case of mortgage or pledge of property, the applicant shall provide the ownership certificate of the mortgaged property or the original copy of the pledged property, documents and the person who has the right to dispose of the property (including the certificate of consent of the property co-owner to mortgage or pledge), and if necessary, the valuation certificate of the mortgaged (pledged) property issued by the competent department;

6. If the guarantor is a legal person, a written document of the guarantor's consent to guarantee should be produced (if the guarantor is a branch of a legal person, a document authorizing the legal person to guarantee should also be produced), the business license of the corporate legal person, the audited property statements of the previous year and the recent period, and relevant credit certification materials should be produced;

7. If the guarantor is a natural person, the guarantor’s ID card, household register, income or property certificate, etc. should be provided.

III. The amount and duration of the UK study abroad loan

The amount of the study abroad loan shall not exceed the total amount in RMB of the application fee, tuition fee for one year, living expenses and other necessary expenses stated in the admission notice of the foreign school or other valid admission certificate, and shall not exceed RMB 500,000. The term is generally 1 to 6 years, and the maximum term shall not exceed 6 years.

4. Loan Methods for Studying Abroad in the UK

1. Real estate mortgage: The loan amount shall not exceed 60% of the value of the mortgaged property approved by the lender;

2. Pledge: The loan amount shall not exceed 80% of the value of the pledged property;

3. Credit guarantee: If a third party provides joint and several liability guarantee, the full amount can be issued if the guarantor is a legal person recognized by the bank; if the guarantor is a natural person recognized by the bank, the loan amount shall not exceed RMB 200,000.

5. Things to note when applying for a UK study loan

Everyone needs to know that the UK study loan has nothing to do with obtaining a visa. The loan itself will not affect the visa result, because the ability to obtain a loan has proved that the applicant has certain assets and meets certain conditions for going abroad. The visa officer focuses on the repayment ability of the guarantor. Therefore, the authenticity, rationality, and feasibility of the repayment ability and plan evidence are the key to determining the success or failure of the loan application and visa.

6. Which banks provide loans?

Currently, only Bank of China and Shanghai Pudong Development Bank offer overseas study loans. Bank of China is the only bank that offers overseas study foreign exchange loans, which has high requirements for borrowers, who must be postgraduate students studying for a master's or doctoral degree abroad.

VII. Calculation of Study Abroad Loan Interest

The interest rate of overseas study loans shall be in accordance with the loan interest rate of the same period stipulated by the People's Bank of China. For loans with a term of less than one year (including one year), the contract interest rate shall be applied; for loans with a term of more than one year, if the statutory interest rate is adjusted, the new interest rate shall be applied according to the corresponding interest rate level from March 15 of the following year, and the interest shall be calculated in stages.

If the loan term is within one year (including one year), the principal and interest of the loan should be repaid in one lump sum, and the interest should be repaid together with the principal; if the loan term is more than one year, the principal and interest should be repaid in equal installments every six months.

It is also stipulated that the repayment date for each period is March 15 and September 15 of each year;

The final due date for each loan is the principal and interest payment date (i.e. March 15 or September 15), but the maximum loan term shall not exceed 6 years (10 years for BOC).

2. Interpretation of the Advantageous Majors for Studying in the UK

1. Business major

Over the centuries, British education has established cutting-edge teaching systems in every business field, and British universities have now become the cradle for cultivating global business leaders. More than 100 business schools across the UK are market-oriented, focus on personalized training for students, and provide students with the business skills and comprehensive strengths needed to succeed.

Studying business in the UK will give you the opportunity to connect with global business leaders, combine theory and practice, and learn to use diverse ways of thinking to expand your business. You will work with international students with a global perspective to solve real-world problems in a flexible way. No matter what area you are most interested in, you will be able to gain a deep understanding of core business principles and emerging technological possibilities and become a talent in this field.

2. Engineering disciplines

If you aspire to become an engineer, the UK will be the best place to start your engineering career. The UK is not only ranked among the top in the world in the field of innovation, but also an expert in teaching various engineering majors. Three of the world's top ten engineering universities are located in the UK, but Chengdu Shenyoujun wants to say that no matter which British university you choose, you will get guaranteed high-quality teaching and practice. British universities attach great importance to connections with industry. On the basis of combining industry, academia and research, students will acquire comprehensive skills that can be directly applied to the workplace before graduation.

Studying engineering in the UK will not only help you accumulate cutting-edge knowledge, but also help you upgrade your thinking skills through the progressive teaching methods of British universities. You will approach problems in a creative and collaborative way, which will inspire you in practice and help shape your plans for the future.

3. Medicine

If you’re planning a career in medicine, the UK will help you get started. The UK has been at the forefront of medical teaching for centuries, and its innovations in medicine have saved millions of lives. British medical discoveries include the world’s first vaccine, ultrasound technology and gene sequencing: discoveries that have earned the UK the second-highest number of Nobel Prizes in Medicine in the world. This medical research makes the UK a top choice for international students looking to gain medical skills, allowing them to put their studies into practice anywhere in the world.

Two of the world's three largest medical schools are in the UK, and there are many other excellent universities in the UK that offer world-class medical education. You can study in the world's most advanced learning environment; and these medical schools are led by the most senior experts in their respective medical fields. Medical students can choose from more than 60 professional directions. The UK's modular and flexible courses allow students to deepen their professional knowledge anytime, anywhere.

The above three majors are all worth pursuing for Chinese students, whether for career development or scientific research. Of course, the specific major should be analyzed and selected based on one's own specific situation and considered from multiple dimensions.

3. Remember safety knowledge when studying in the UK

1. Accommodation safety

Many students rent houses outside the school, so it is particularly important to choose a house in a safe area. You can communicate with seniors more often to get a lot of useful information. If conditions permit, live close to the subway station or bus station. There are often school buses near the school, and everyone can make full use of these resources. If you choose roommates, students who have familiar Chinese friends together are of course the best. Don't choose a particularly dark and remote place to save money. This cannot be saved. Remember to check the safety of power and gas before going out or going to bed, and whether the doors and windows are locked. If you are going on a long trip, you can ask friends or neighbors to pay attention to the safety of the house.

2. Document security

Important personal documents and private information must be kept properly and not shown to others easily. If someone checks your documents, remember to show your ID or work permit to the other party for polite verification. If it is a policeman, you can write down his ID number, car number, etc. Back up important documents just in case. If your documents are lost, stolen or robbed, you must report it to the school and the police station in time, apply for a written loss certificate, and cooperate with the relevant departments to apply for a replacement as soon as possible.

3. Life

When you come to a completely new place, you need to have a comprehensive understanding of the local laws, religions, customs, etc., learn to respect other people's culture and customs, and strengthen your awareness of self-protection in this unfamiliar environment. Even if you are a rich person, you should not carry a lot of cash with you. It is always good to be low-key. As for traveling at night, you should travel with companions. You can tell your friends in the dormitory where you are going and what time you will be back.

4. Traffic safety

Students who have cars, try not to park in sparsely populated areas, and do not leave important items in the car. Do not pick up strangers at will, and do not take illegal taxis or strangers' cars. Do not take the subway too early or too late unless there are special circumstances. If necessary, you can consider taking a taxi and write down the car number and send it to your friends. Do not get too close to the edge of the subway or sit in an empty car. The middle car is safer. Try not to sit at the entrance or exit of the car, because this is the place where criminals like to attack the most. If there are few people on the bus, you can sit close to the driver.

5. Safe dating

You should be careful about your words and actions, be prudent in making friends, and protect your privacy. There are often many parties in school, and everyone drinks alcoholic beverages. It is recommended to drink in moderation. In social situations, if others offer you a drink, it is also recommended to politely refuse.

Summary of the strategy for applying for a loan to study in the UK

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