If you’re an undergraduate student from Scotland, you can get more help with your tuition fees than anywhere else in the UK. A student loan is a money that you can borrow to assist cover your living expenses while attending college or university. Read along to learn about how student loan Scotland works.
Firstly note that the following factors determine your eligibility for student loan Scotland:
- your college or university
- your course – you must be enrolled in a higher education program.
- your age – if you meet the residency criteria,’
- you must be under the age of 61 on the first day of the first academic year of your program.
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How to apply for a student loan Scotland
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You can apply for student loans when applying for other student finance (for example tuition fees) or separately. You are eligible to get a loan of up to £6,000 if your household income is more than £34,000 a year.
To apply you’ll need:
- A SAAS reference number if you’ve applied before
- National Insurance Number (this is on your benefit letter National Insurance Card, payslip, or P60)
- Your bank account details
- The course of study and the university or college you’re applying for
- Documents proving your household income. Note that your household must be £33,999 or less.
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How to apply for a student loan in Scotland online
You can apply on the Student Awards Agency Scotland website after opening an account.
- Go to the ’Login’ section of the SAAS website and start applying.
- Take your time to fill out your application correctly as mistakes could delay your application. You can also use the SAAS document upload service to send scanned copies of your documents. You have to open and sign in to your SAAS account to do this.
- After applying, you can check your application’s progress by logging on to your online account. If your application is accepted SAAS will send an ‘award notice’ to your online account. This will tell you how much funding you will get.
When to apply for student loan Scotland
You can start apply for financing in April, before your course begins. Apply latest by the end of June to ensure that you receive your funding in time for the start of your study. To have your tuition and maintenance loan covered by SAAS, you must reapply each year of your course. After registering for your course, your living cost loan or bursary will be deposited into your bank account. Payments are made monthly if you are studying in Scotland, or at the beginning of each term if you are studying elsewhere in the UK.
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Is university free in Scotland?
University is free in Scotland, but only if you are a Scottish (or EU) student who began in the 2020/21 academic year or earlier. If that describes you, you will not have to pay any tuition fees at Scottish universities since the Student Awards Agency Scotland (SAAS) will cover the £1,820 per year for you. This also implies that if you are one of these students but are not qualified for the fees waiver for whatever reason, you will still receive a considerably better bargain than if you enrolled elsewhere in the UK.
What extra funding can you get in Scotland
Asides student loans, there are extra findings like scholarships to help with tuition fees or living costs in Scotland.
They can be provided by your university as well as companies, organizations, or charity for a variety of reasons, some of which may surprise you. If you run into financial difficulties while studying, your university or college may have special discretionary funds to assist you. This will differ by institution, so you’ll need to speak with yours to explain your position. However, this should be viewed as a last resort after you’ve taken out the maximum amount available to you. There is also additional support provided for students based on personal circumstances, such as having children or having a disability.
