Time is not good for the British students nowadays in
their homeland. Time is not good as they are to spend more to secure education
from any institutions. Tuition fees have been raised already. The students have
noticed that there is a rise in prices of everything associated with education.
Student loans, against this spectrum, are now more than ever important to
According to the general norms of the financial market in ,
student loans are available in secured and unsecured forms. Student loan in
secured form is advanced to the students who can produce documents in support
of ownership of any tangible asset (a personal vehicle, a piece of land, a home
etc for example). In secured form of student loans, tangible property of any
kind is required to be used as collateral.
There is reason to believe that fewer students can avail of student loan in
secured form. There are provisions which allow parents of the students to apply
for education of their wards. This is what is known as parents student loans.
Parents who have valuable possessions can go for the student loan in secured
form. It is clear that greater amount of loan at lower rate of interest and at
flexible tenure for repayment is available under this scheme.
also be secured under unsecured form in which collateral is not required. Here,
the rates of interest are higher, and the amount of loan is less. Students
having lower credit score are also eligible for student loans.
Students can also secure student loan from the directorate of education.
Students get the prescribed form from the office of the directorate of
education. They are to submit some important information (for example, name,
address, contact number, name of the institution in which the students have
enrolled their name etc). The form must be forwarded by the head of the
respective educational institution before they are submitted to the office of
the directorate of education.
who aspire for higher education, especially in the degree level and in the
professional courses, can apply for student loans of special kinds. In such
cases, they can secure an amount of £13000 at favorable rates of interest. They
are to repay the loan amount when they secure a job after completion of
Harry Taker is an author for this article. For more information about , visit