Education Loan for UK
Get accustomed to the benefits, cost and opportunities
to study in the UK
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Do you dream of pursuing your studies in the UK? Pursuing higher education overseas can be enriching. The UK has been a preferred study destination for most students because of the presence of prestigious educational institutions. Only receiving an admission letter from your dream university won’t suffice. Although scholarships cover 20% to 50% of study expenses, you also need to manage the remaining expenses. This is where education loan for UK play an important role in deciding your future. It eases your finances and lets you pursue your academic dreams.
Cost of Studying in the UK for International Students
When you board your flight to fulfill your dream of studying in the UK, expenses like groceries, travel, and accommodation can quickly add up. Even though you have an education loan for UK from Qck Loans, there are some expenses that such loans do not cover. For covering those expenses, you need part-time employment. Here is a rundown of all such expenses:
- Tuition Fees
Tuition fees depend on the course and the university you have selected. On average, tuition charges range from Rs. 1,092,614 – Rs. 4,151,933 yearly.
- Transportation
The cost of transport in public vehicles or occasional travel is based on how frequently you travel. The expenses can be somewhere around Rs. 7,648 to Rs. 10,926 monthly on average.
- Living Expenses
Living expenses in the UK range from Rs. 86,000 to Rs. 2.2 lakh per month, covering accommodation, groceries, utilities, and personal expenses. The costs may vary depending on lifestyle, location, and usage.
- Books and Study material
The price of books and learning materials can range based on your selected course. You can expect expenses of approximately $1000 to $2000 yearly on average on textbooks and study materials.
- Health Care
The price of health insurance can vary from $500 to $2000 yearly based on your chosen university and the provided coverage.
Types of Education Loan for UK
Different types of education loans are available for those who dream to pursue academics in the UK. The education loan for UK interest rate can vary. there are two main types of loan for students UK that they can take to study in the UK. These are:
A secured education loan for the UK, also called a collateral-based education loan, requires the applicant to pledge security, such as a residential property, fixed deposit, or other valuable assets. These loans are typically offered by public and private banks in India and come with lower interest rates due to reduced risk for the lender.
On the other hand, an unsecured education loan for the UK is a preferred option for many Indian students planning to study abroad. This type of loan does not require any collateral, making it more accessible. However, due to the higher risk involved for the lender, interest rates on unsecured loans are generally higher. These loans usually require a financial co-applicant, and the loan approval depends heavily on the co-applicant’s income and credit (CIBIL) score. Unsecured loans are a widely used method to fund higher education in the UK without pledging assets.
The table below shows the loans available to turn your dream of studying in the UK into reality:
Secured Education Loan for UK
Unsecured Education Loan for UK
Collateral required: Commercial or residential property/assets
No requirement of collateral
Low interest rate
High interest rate
Long repayment period
Short repayment tenure
Choosing a loan can be hassle But we make it simpler
What Expenses Are Covered Under UK Education Loans?
When your UK education loan is sanctioned, you can receive the funds either in a lump sum or in installments, depending on your financial needs. Opting for partial disbursement is often the smarter choice, as interest is charged only on the disbursed amount, not the total approved loan amount. This helps in minimizing your overall interest burden, especially important when opting for an unsecured education loan for the UK, where cost-efficiency is key due to the absence of collateral.
A study abroad loan for the UK typically covers a wide range of essential expenses, making it an effective source of postgraduate funding in the UK. Depending on the lender, the following costs are usually included:
- Tuition fees
- Accommodation expenses
- Food and grocery costs
- Utility bills (electricity, internet, etc.)
- Health and medical insurance
- Visa application fees
- Study-related expenses (lab charges, equipment, books, etc.)
These loans are designed to ease your financial burden while pursuing higher education in the UK, ensuring that both academic and living expenses are taken care of efficiently.
Eligibility Criteria to Study in UK Universities
Every educational institute in the UK has its eligibility criteria, and some require passing entrance tests. Here are the basic eligibility criteria that will help you understand the documents you need for studying in the UK:
- Age Criterion
Tuition fees depend on the course and the university you have selected. On average, tuition charges range from Rs 1,092,614–Rs. 4,151,933 yearly.
- Educational Qualification
Applying for a study VISA in the UK requires you to complete 12 years of education with proper marks. As an international student studying in the UK, you need to score a minimum of 60%. When applying for a master’s degree, you need a bachelor’s degree with a portfolio.
- English Proficiency Certification
All universities in the UK require you to appear for the English Proficiency Test. TOFEL, IELTS, and Duolingo are some accepted tests, but every educational institute may have certain prerequisites and conditions regarding these examinations. These tests show how proficient you are in their native language.
- Entrance Test
Some UK universities may require entrance exams based on your course. Common tests include GMAT for MBA, GRE for postgraduate courses, STEP for Mathematics, and LNAT for Law
- Recommendation Letter
Leading UK universities ask for recommendation letters from a teacher’s perspective. An individual who has mentored you, like your teacher, professor, principal, or department head. They will elucidate your strengths, weaknesses, and character.
- Statement of Purpose (SOP)
SOP is a letter through which you present yourself in words. Besides concentrating on academic achievements, include personal interests, as universities use this to know you beyond your academic achievements.
Documents Needed to Apply for an Education Loan for UK Studies
The list of documents needed to apply for an education loan in the UK varies. Mentioned below are some basic documents:
- Duly filled loan application form
- Proof of identity (Aadhaar card, PAN card, or passport)
- Residential proof (utility bills, ration card, or Aadhaar card)
- Proof of income (ITR, salary slips, or bank statements of co-applicant)
- Passport-size photographs
- Academic records (school and university mark sheets/certificates)
- Copy of your scholarship letter (if applicable)
- Official admission letter from a recognized UK university or institution
- Breakdown/list of expenses provided by the university
- Foreign exchange permit (if required by your lender)
- Co-applicant or guarantor documents (if applying for an unsecured loan)
- Collateral documents (property papers, FD receipts, etc., if applying for a secured loan)
Note: Document requirements may vary slightly depending on the lender (bank, NBFC, or financial institution). It’s always recommended to consult with your loan provider or aggregator platform like QCK Loans for a personalized checklist.
Step-by-Step Application Process for Education Loans in the UK
Securing an education loan to study in the UK can be simple when done the right way. To avoid last-minute hassles and ensure a smooth experience, it’s recommended to start your UK education loan application process at least 4 to 6 months before your course start date.
Handling multiple lenders independently can be overwhelming, but platforms like QCK Loans make it easier by offering personalized assistance and streamlining the entire loan process. Here’s a detailed breakdown of the step-by-step process to apply for an education loan for the UK through QCK Loans:
- Step 1: Check Your Eligibility Online
Begin by assessing your eligibility for a UK education loan using QCK Loans’ quick and free online eligibility checker tool. This helps you understand which lenders and loan types best suit your profile.
- Step 2: Get Expert Guidance
After eligibility confirmation, a dedicated education loan expert from QCK Loans will get in touch to walk you
through the entire process. You’ll receive personalized lender recommendations based on your academic and financial background.
- Step 3: Receive a Customized Document Checklist
Based on your chosen lender’s criteria, QCK Loans will provide a tailored document checklist to make it easier for you to gather and submit the necessary paperwork.
- Step 4: Submit the Required Documents
Submit your documents either online (via portal upload) or offline (collected by a representative) as per the lender’s submission requirements.
- Step 5: Loan Verification & Approval
The lender will verify your documents, a process that typically takes 7 to 15 working days. Upon approval, you’ll receive a loan sanction letter and agreement to sign. You can monitor your application status in real-time via the QCK Loans dashboard.
- Step 6: Loan Disbursement
Once the agreement is signed, your education loan for the UK will be disbursed according to the lender’s policy, either directly to your bank account or transferred to your university for tuition and other approved expenses.
Repayment Options for Education Loans for UK Students
When applying for an education loan to study in the UK, understanding the loan repayment structure is essential for long-term financial planning. Key aspects to consider include the repayment tenure and moratorium repayment options, as they can significantly affect the total interest paid over time.
To help international students make informed decisions, we’ve outlined the repayment terms offered by leading lenders such as HDFC Credila, Avanse, InCred, Prodigy Finance, MPOWER Financing, Auxilo, and ICICI Bank, all popular choices for UK-bound students.
| Lender Name | Repayment Tenure | Repayment Option During Moratorium |
|---|---|---|
| HDFC Credila | Up to 15 Years | PSI (Partial Simple Interest) |
| Avanse | Up to 15 Years | PSI or SI |
| ICICI Bank | Up to 10 Years | SI or EMI |
| Incred | Up to 15 Years | PSI or SI |
| Prodigy Finance | Up to 15 Years | SI |
| MPOWER Financing | Up to 15 Years | SI |
| Auxilo | Up to 15 Years | SI |
Top Universities in UK 2025
Although an exceptional academic record is a must-have for applying for an education loan in the UK, an offer letter from a prestigious educational institute quickens the entire approval process. Below is a list of the top universities in the UK you can aim for, regardless of which course you apply for:
- Imperial College London
- Oxford University
- Cambridge University
- University College London
- University of Edinburgh
- University of Manchester
- King’s College London
- London School of Economics and Political Science
- University of Bristol
- University of Leeds
- University of Glasgow
- University of Birmingham
- University of Warwick
Part-Time Jobs While You Study in UK
You can cover the cost of your studies in the UK with the help of part-time employment opportunities. Both on-campus and off-campus part-time jobs are available for students. You can work 15 to 20 hours per week as per your schedule, but maintaining your academic performance is equally important. Besides your education loan for the UK that covers your education expenses, you can work part-time to cover your other purchases.
Click below to learn more about part-time jobs available in the UK.
What to Do After Completing Studies in the UK?
After completing your course in the UK, you can return home and start working or stay back in the country and explore ways to extend your stay. Listed below are some options that can help you make an informed decision:
- PSW (Post Study Work) VISA
After finishing your studies in the United Kingdom, you can opt for a Post Study Work VISA, also known as PSW. This allows you to stay in the country for a year or two after your study VISA expires. During this time, you can search for a job and gain experience.
- Graduate VISA
A graduate VISA lets you stay in the UK for two years after completing your course, giving you an opportunity to gain skills and experience.
- Skilled Worker VISA
If a company has hired you and the UK Home Office has approved it, you are eligible for the Skilled Worker VISA. After you get this VISA, you can stay in the UK for two years and gain practical experience. Moreover, the Skilled Worker VISA can extend your stay for around 5 years and offers additional perks.
Our free tools will help you out
Our advanced tools, such as the EMI calculator and loan eligibility checker, streamline the process of obtaining quick student loans for studying abroad by eliminating complex procedures.
EMI Calculator
Determine your EMIs and repayment schedules before committing to a student loan.
EMI Calculator
Determine your EMIs and repayment schedules before committing to a student loan.
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Everything you need to know
You first need to fill out the application form as per the given instructions to get an education loan for studying in UK. Then attach the relevant documents and send the same to your loan provider.
Yes, education loans cover full tuition fees for the whole duration of your course. This ensures that you can concentrate on your academics without worrying much about finances.
Since educational institutes set the tuition fees, the education loan for UK is paid directly to them. If you are studying full-time, you can get approximately £9535, whereas if you are enrolled in an accelerated degree program, you can get around £11,440.