Can You Get a Student Loan Twice In the UK?

Can you get student loans twice in the UK? What may be the option if you don’t get a post-graduation loan in the UK?

Can You Get a Student Loan Twice In the UK?
Bad Credit loans

If you have already taken out a loan and want another for your master's or any other degree in the UK, you don't get it.

Well, yes, there are some exceptions to getting funding for a second degree, like medicine or dentistry. But even these can’t help you beyond tuition fees.

Whereas, in case of disability, you might get funding again regardless of the previous education qualifications.

Whatever might be the situation, many UK aspirants often struggle to figure out the eligibility for applying and getting a student loan for a second time.

This article will answer all your queries related to studying in the UK for a second degree.            

Are you thinking about obtaining a post-graduation

degree from a UK university on loan?

A second-degree loan is given to some extent ONLY to THOSE who already have a degree but are now looking to get one in a different subject.

However, second-degree loans are not available for all subjects. If your course aligns well with the loan guidelines pre-approved by the Govt., you can get the loan.

Govt. Approved Courses for Second funding:

You may get limited funding if you are heading towards obtaining a postgraduate degree in some of the most professional courses like-

  • Agriculture
  • Biological sciences
  • Mathematical sciences
  • Architecture (M. Arch RIBA part 2)
  • Physical sciences
  • Technologies
  • Veterinary surgeon course

If you are enrolling in a healthcare course or dentist course after 2017, you can qualify for a second education loan or tuition fee.

What is Student Loan Eligibility in the UK?

Whether you will qualify for student loans depends on the below factors:

  • Course
  • College/university
  • Complete an undergraduate course before
  • Your nationality and residence status
  • age

 Conditions You can get a second loan:

You can get second funding only if you:

  • Leave the course before its completion,
  • repeating the course in the same institution or university
  • health issues or pregnancy

 Can you Get a Student Finance Second time?

 The UK students who have already completed an undergraduate degree from a university are not entitled to any further govt, support. Therefore, you won’t get any education loan for gaining a second degree in the UK. Pay the complete fee.

However, there are other options that you can seek.

Things to do when denied a second student loan in the UK

If you are denied a loan, you will need to figure out other options apart from taking out very bad credit loans with no guarantor and no broker.

Here are some options to go for after student loan rejection for a second degree.

1)      Apply for Apprenticeship

Even if you have a degree, you can still apply for an apprenticeship in a subject of your choice. It is one way to get a degree along with being paid by an employer.

2)      Seek Private Student Loans

 If you are studying post-graduation or another undergraduate degree, fund your education expenses yourself. In such a case, you can seek a private student loans option.

Those seeking a second degree in the UK are only eligible for federal loans or private loan options

The eligibility and credibility of granting the loan will be based on the previous history of loans. The creditor will analyze the amount borrowed for the first degree and accordingly decide the loan amount.

After that, you can apply for UCAS applications.

The main thing is- you should be mindful while applying for private student loans online. Check: Whether you can pay monthly costs?

It is essential to figure out the right loan option, especially when you are seeking a full-time postgraduate or undergraduate course in the UK.

 3)      Scholarships

Many scholarships are available for seamless education in the UK. Google out the top scholarship programs online in the UK and the eligibility for each. If you qualify for any, you can apply and get your education fee-funded quickly.

Well, you might not get your education funded entirely, but it will help you reduce the overall cost.

 4)      Post-graduate course funding

If you are seeking a second degree or post-graduation in any of the below courses and research, you might get student finance funded to a limited extent:

  • Engineering and Physical sciences
  • Medical research
  • Natural environment
  • Science and Technology facilities
  • Biotechnology and biology sciences
  • Arts and humanities

If you apply for any of the courses mentioned above, you get tuition fees and a stipend.

5)      Grants from charities

There are thousands of trustees and grants in the UK which offer grants for educational purposes. The fact is, each has its eligibility criteria. Analyze which grants you qualify for by understanding the terms and conditions and grants' benefits.

You can access over 3000 grants in the guide to educational grants'. Or analyze the “Guide to Educational Grants”. The book will help you understand how to find funding sources for a second degree in the UK.

6)      Government Grants

Apart from the charities, you can look for the Govt. grants. Government grants are available to students. Those with specific needs can apply for them. This money is free, and you don’t need to pay it back to the Govt.

Some types of government grants are:

  • Childcare grants
  • Disabled student allowance
  • Parent’s learning allowance
  • Adult Dependent Student Grant
  • NHS Bursary
  • Teacher training funding
  • Social Work Bursary grants

These are some of the Govt. grants available for funding. If you meet the criteria, you might be eligible for student education funding.

7)      Seek Part-time Job opportunities

Over 80% of students studying in the UK work part-time to meet their minimum requirements. If you are denied a second-course education loan, you can seek part-time job opportunities to manage your tuition and overall course fees. Apart from that, you can take student loans, as mentioned early in the article.

8)      Crowd-funding

It might be one option for financing your education. It raises funds by setting up a fundraising page and appealing to people to donate for education. Under this, you will need a compelling reason to support your appeal.

In the UK, many students have benefitted from crowd-funding to finance their education.

 

Bottom Line

The Govt. The UK restricts loan grants after funding the first year. If you need to get a second loan, you may wish to consider private or federal bank loan help and other government funding options.