Commercial bank loans for MBA students

Many traditional financial institutions will offer personal loans to MBA students. These are most likely to be offered to those with a good credit rating and who are studying on a part-time basis, and thus working whilst studying for their MBA. A student’s ability to make repayments makes them more attractive to banks. Unlike student loan providers, commercial bank loan repayments are likely to begin immediately after the loan has been issued.

Employer sponsorship for MBA students

MBA qualifications are highly valued by many employers, and those students who are already employed in a relevant field may find that their employer is keen to help fund their MBA studies. If this is the case, you should carefully consider what your employer is offering before agreeing. 

Some employers will offer an MBA loan that you pay back to them directly out of your salary. Others may offer to pay at least part of your MBA tuition fees. They may require you to sign terms that say you will continue to work with them for a certain number of years after your MBA. If you break the terms of your MBA loan agreement, then you may have to pay back the tuition fees to your employer. FIND YOUR PERFECT BUSINESS PROGRAM

Here we have compiled answers to frequently asked questions about UK MBA loans. If you still have any unanswered questions about MBA loans please email us and we will do our best to help.

Do MBA courses qualify for a UK Government masters loan?

Yes – MBA courses do qualify for UK Government masters loans as long as the student meets all the eligibility requirements and hasn’t previously taken out a masters loan.

Are UK Government MBA loans means-tested?

No – all that matters is that you and your MBA course are eligible for the loan, your income and savings do not affect your eligibility.

Can I apply for a UK Government masters loan if I’ve lived outside the UK in the last three years?  

No – to apply for a loan as a UK student you must have lived in the UK for three years prior to your MBA course. You can have travelled from the UK for holidays or periods of temporary absence during these three years, but you shouldn’t have become ordinarily resident in another country.

Will my credit history be checked?  

Your personal credit rating and existing debts won’t matter for UK Government masters loans unless you are in arrears with the Student Loans Company. Your credit history will usually be checked with private funding companies like Prodigy Finance and Lendwise.

Can I get an MBA loan whilst working?

Yes – you can have a job during your MBA studies and still access UK Government masters student finance. You will also be able to apply for a private loan from companies like Prodigy Finance and Lendwise if you are studying your MBA whilst working.

Can I apply for a second UK Government MBA loan?  

No – you can’t apply for a second MBA loan if you have already had one for a previous masters course.

Can I get a UK Government masters/MBA loan if I already have a masters degree?

No – UK Government masters loans are only available to people who do not have existing masters-level qualifications (or higher).

Can I apply for a UK Government masters/MBA loan if I already have a Postgraduate Certificate or Postgraduate Diploma?  

Yes – you can apply for a loan for an MBA degree if you already have a PG qualification below masters level, such as a PGCert or PGDip.

Can I apply for a UK Government masters/MBA loan if I already have a PGCE?

Yes – you can still apply for an MBA loan if you already have a PGCE.

Can I get a UK Government masters/MBA loan if I already have a PhD?

No – you can’t apply for a UK Government loan for your MBA if you already hold a PhD (or other doctorate), they are only available if you don’t already have existing qualifications at masters level or higher.

Will I still receive Disabled Students’ Allowance if I have a masters/MBA loan?  

Yes – payments and eligibility for Disabled Students’ Allowance (DSA) are separate from postgraduate loans.

When will I have to start making my MBA loan repayments?

Your loan repayments will depend on what home nation or private company you get your loan from. In most cases – unless you get an MBA loan from a bank – MBA loan repayments will start after you graduate from your MBA program.

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