UK Education Loan Process

Posted by dyuthi v on May 19th, 2021

The UK appeals to us Indians in a lot of ways. Be it the administration or the presence of various Indian communities in the country. A huge portion of Indian students prefers the UK as their destination for higher studies! Before you get all excited at the aspect of studying in the UK, you need to ensure that you know the entire UK education loan process, thoroughly. 

We know that the process of collecting this information can be quite overwhelming, given the myriad sources of information being present on the internet. It is common knowledge that most students borrow an education loan to study in UK. This article aims to give you a consolidated knowledge of the various financial preconditions that all aspirants need to fulfil before they begin their higher education process to study in the UK. It will also tell you all about the procedure to apply for an education loan for UK in India.

What are the available options of an education loan for UK?

Unsecured education loan for UK: It is common knowledge that NBFCs are the biggest providers of unsecured education loans. Most NBFCs do not entertain students who need to fund their higher studies with the help of an unsecured education loan for UK. 

Secured education loans for the UK: A secured education loan to study in UK is the best possible option to finance your higher studies. Collateral-based education loans borrowed from notable government banks are always a better option when it comes to funding your higher education abroad.

The admission process to study in the UK

Confirmation of Acceptance for Studies (CAS): 

Academic Technology Approval Scheme (ATAS) Certificate: 

Coming to the admission process, the following important steps have to be followed by students in the UK admission process:

1. Apply to universities and receive an admission letter.

2. Obtain their CAS and ATAS certificates as soon as the admission letter from the respective university has been received.

3. To receive a CAS certificate from the respective university, a certain amount has to be deposited as token money, by the candidates.

4. Apply for a Tier 4 (UK student) visa process. This process would take at least 15-20 days when you apply through VFS Global.