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Changes in student loan

Dear Clients and Applicants, 

 

As expected, the UK Government finally made an announcement on June 23, 2020 regarding changes to fees and access to Student Finance England loans for EU students starting the 2021 academic year. This announcement does not affect students applying for the 2020 academic year. In simple terms, for the typical EU citizen, tuition fees will rise and the UK student loan will no longer be available for new applicants starting their degrees in the UK in 2021. This change does not affect this year’s EU applicants or enrolled students over the entire period of their studies.

 

The UK will of course remain one of the most popular overseas destinations for students to enjoy a life-changing period of personal growth away from home, develop a network of great friends across the globe, and build a solid foundation for a successful and lucrative career. It remains a great investment. To support this dream many of the Universities we speak to on a daily basis say they are working on various options and having further discussions with the UK Government. Some have mentioned a generous scholarship scheme to reduce fees to a manageable level. Meanwhile based on existing products available in other countries and preliminary discussions with financial institutions in Poland, we believe it will not be long before a student loan product with reasonable terms will be available on our market to finance such aspirations, replacing the UK loan system. 

 

Elab believes we should all remain positive. Whilst financing studies in the UK is now officially more difficult, where there is a will there is a way. Students can still pursue their original dreams and make them a reality. However, if all else fails, Elab does offer other great destinations within the EU under our Europa Programme! 

Don’t stop your future!

 

Thomas Ravensdale
CEO Elab Education Laboratory

Study overseas

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