Financial support

Student loans

Many high street banks have their own versions of study loans and you may wish to discuss your options with them. The majority of banks in the UK will only lend to UK nationals, so if you are not from the UK then you could approach banks in your home country to see if they have any loans available to students.

Becoming liable for all or part of your loan means that it is added to your loan balance and you’ll need to repay that amount when you’re due to start repaying. You’ll remain liable for this amount even if you withdraw, transfer or suspend your studies at a later date.

What if I complete within one year?

If you are on course to complete within one year, you can increase the loan amount you have requested in-year from £3500. To do so, you will need to contact Student Finance England. Please be aware that as a part time student you are eligible to apply for a maximum tuition fee loan of £6750 per academic year. Therefore if you complete within one year there will be a £250 shortfall that you will be liable to pay yourself.

When applying for your tuition fee loan, you will need to select the course code (on the Student Finance England website) that corresponds to the start month of the academic year for which you are applying, cross referenced with the course title.

For example, if you are studying Business Management and your second academic year will commence in May, you should quote course code 691559 on your second year student loan application.

Please ensure that if you defer or interrupt your studies after submitting for your student loan, and therefore your start date for Year 1 or Year 2 changes, it is essential that you also update your course code with Student Finance England, so that it reflects the new start month. The selected course code must reflect the month for each year that you enrol within. i.e. if you originally enrolled on Year 1 in February 15 and then again on Year 2 in May 16, each student loan application would have a different SLC (Student Loan Company) course code.

Sponsorships

If you are being sponsored for your fees by your place of work, for example, you will require a letter on company letter-headed paper, which is signed and dated by the appropriate person, noting your name, the title of the course, the amount they are sponsoring you for (in pounds sterling), the relevant academic year and any reference or purchase order number detail (if needed) to be included in our tuition fee invoice. You will need to provide a sponsor letter each academic year you are enrolled, should you continue to be sponsored. Please note that should circumstances change and your sponsor will no longer provide sponsorship for you on your course, then tuition fee liability will default to you.

Please note, if you are being sponsored by your employer, the payment plans available to you are Payment Option 1 and Payment Option 2.

Student Finance England

Student Finance England is a resource to help students and parents make informed decisions about student finance.

We expect most students to complete the programme across two academic years. Therefore, if you are eligible to apply for a tuition fee loan, you will need to submit separate applications for each of academic year 1 and academic year 2. Please do not check ‘maximum loan available’ on your year 1 application; in doing so your loan application will default to £6750. Instead, please specify the amount of £3500 on each of your applications for year 1 and year 2.

Withdrawing from study

If for whatever reason you need to withdraw from study, please note that tuition fee liability is determined by the length of time you are enrolled on the programme and not by the number of modules you complete. You will be required to re-enrol each academic year (every 12 months of active enrolment).

The table below sets out what tuition fees you will be liable to pay per academic year*

 

Withdrawal within first 15 weeks of academic year

Withdrawal within week 16-30 of academic year

Still enrolled week 31

Year 1

£875

£1,750

£3,500

Total Fee Liability

£875

£1,750

£3,500

 

 

Withdrawal within first 15 weeks of second academic year

Withdrawal within weeks 16-30 of academic year

Still enrolled week 31

Year 2

£875

£1,750

£3,500

Total Fee Liability for period enrolled on course

£4,375

£5,250

£7,000


*Should you choose to interrupt your study,  this period will not be included when calculating the time enrolled. (Please note that even if you have interrupted your studies, your payment plan liability will continue.)

 

Lincoln International Business School. University of Lincoln, Brayford Wharf East, Lincoln. LN5 7AT
e-mail: libspgr@lincoln.ac.uk