Can International Students Get Student Loans?

For many international students, the UK is a top destination for higher education - and it’s not difficult to see why! 

Its prestigious universities and diverse culture make it an appealing option for many non-Brits, but the cost of education in the UK can be a significant barrier. This leads many to wonder: Can international students get student loans in the UK?

This is a question that has received even more attention post-Brexit, with the UK’s decision to leave the European Union having major consequences on EU citizens living, working and studying in the UK or those hoping to do so. 

Unfortunately, it made things a lot more complex for some international students - but we’re here to help break things down as much as possible! 

How does the UK’s student loan system work?

The UK government offers student loans to help with tuition fees and living costs, but these loans are primarily available to UK residents. 

The average tuition fee for a full-time undergraduate course in the UK is £9,250 per year for UK students - so certainly not something the majority of students have to spare! Essentially, the student loan covers these fees so that students are able to go to university without having to fork out the costs of their tuition upfront. 

They will, however, have to pay it back once they have graduated and begin earning a certain salary, which varies depending on which student loan plan the student was on. 

When it comes to the maintenance loan, UK students are able to apply for this to help cover essential living costs such as rent, utility bills, food, clothing and other day to day costs. This loan is calculated based on factors such as the student’s parents' or partner's income, any personal savings and their living circumstances, so again it varies depending on the individual. 

Can international students apply for a UK student loan?

Unfortunately, international students from non-EU/EEA countries as well as EU students who started their course after August 2021 are generally not eligible for these government-backed student loans. 

Most EU students who have arrived in the UK after 1st January 2021 must apply for a student visa and won't be eligible for student finance funding. So generally speaking, international students aren’t eligible for a UK student loan. 

What are the tuition fees in the UK for international students?

It’s important to note that tuition fees in the UK are often significantly more expensive for non-UK students - yep, even more than they already are!

The average cost for an international student studying at undergraduate level in the UK is about £22,000 per year, but this can vary. 

Alternatives to student loans for international students

While the government-backed student loan may not be an option for international students, there are still other ways for non-UK students to get financial assistance while studying here. 

1. Private student loans

Private lenders, including banks and specialised loan providers, offer student loans to international students. These loans can cover tuition fees and living expenses but they can come with higher interest rates and may require a UK-based guarantor or co-signer.

It’s crucial to compare different lenders and fully understand the terms before committing!

2. Scholarships and grants

Numerous scholarships and grants are available specifically for international students. These can be offered by universities, government bodies or private organisations. Some well-known scholarships include:

• Chevening Scholarships: Funded by the UK government, these scholarships cover tuition fees, travel, and living expenses for students from over 160 countries.

• Commonwealth Scholarships: For students from low and middle income Commonwealth countries, these scholarships aim to support talented and motivated individuals to gain the knowledge and skills required for sustainable development. 

• University-specific scholarships: Many UK universities offer scholarships to attract talented international students. Examples include the Rhodes Scholarship at Oxford and the Gates Cambridge Scholarship.

3. Sponsorships

Some international students are funded by their home country’s government or private companies through sponsorships. These sponsors typically cover tuition fees, living expenses and sometimes even provide a stipend.

4. Part-time work

International students with a Tier 4 Student Visa can work up to 20 hours per week during term time and full-time during holidays. Although not a loan, part-time work for students can help to ease the financial burden of studying in the UK! 

Tips for managing your money as an international student in the UK 

Managing your finances while studying abroad is essential. Here are some tips to help you stay on top of your budget:

• Take advantage of student discounts: Did you know that as an international student, you can enjoy the same student discount perks as UK students? With a TOTUM+ membership, you’ll save over £550 a year on your everyday shopping with 600+ amazing discounts and exclusives at 400+ big brands! You’ll also get an ISIC card with your TOTUM+ membership, which is the only internationally accepted student identity card that provides student status verification and global discounts! 

• Budget each week: We all know students don’t have the biggest budgets, so it’s important to manage your finances as responsibly as possible! Check out our tips on how to budget as a student in the UK. 

While international students may not have access to government-backed student loans, there are still several ways to get financial assistance while studying in the UK.

For more tips and tricks about university life in the UK, check out TOTUM Talks and our other guides for students:

• What Date Is The Maintenance Loan Paid?

• Can I Claim Universal Credit As A Student?

• Do Students Need A TV Licence?