Funding your future – the lowdown on postgraduate loans and Cranfield University scholarships available to you

Cranfield University is proud to partner with Future Finance to help ambitious students afford a great education. We are very excited to launch the new Future Finance Scholarship worth £5,000 to reward two exceptional students commencing their study in 2016/17. To be eligible students must have achieved a first class honours or 2:1 (or equivalent) in their first degree and have applied for admission for either the Cranfield Executive MBA (January 2017 intake) or MSc Aerospace Vehicle Design (March 2017 intake). There is one £5,000 scholarship awarded for each course to go toward the cost of tuition fees.

To find out how to apply for the scholarship visit the Cranfield University website and complete the application form – but hurry, the deadline for students on the Executive MBA is 16 December 2017! Make sure you tell us all about your proudest achievements. We also want to know why you chose to study at Cranfield – we love it when our students are passionate about what they study. Finally don’t forget to explain how this scholarship will help you fulfil your study goals at Cranfield.

New, smart, flexible loans for European students

The European Investment Fund (EIF) has partnered with Future Finance to offer smart, flexible loans to European Master’s level students moving to or from the UK for their studies. You can borrow up to £9,300 for courses up to 12 months in length. As Cranfield is an Erasmus+ university Master’s students can apply for the loans to assist with the cost of their studies.

Interest rates will be 7.5% (var). Repayments are over 6 to 10 years, starting one year after you’ve completed your course. You can also take a 12-month repayment break during that time, and you can repay earlier if you wish without penalty or early repayment fees. Further details of eligibility requirements, interest rates and other key terms of the loan are available by visiting the Future Finance website.

More student loans!

If you don’t qualify for an Erasmus+ student loan there may be other student loan options at Cranfield University. Future Finance offer loans for all Cranfield University students.

Alternatively if you are a UK or EU student you may qualify for the Postgraduate Loan from Student Finance England which allows you to borrow up to £10,000. There is also the Cranfield Postgraduate Loan Scheme operated by Prodigy Finance for those UK and EU students studying a full-time Master’s course in a STEM subject.

Cranfield is also approved to support US students with US Federal Loans or Sallie Mae Loans. I will be blogging more details about all these options in the coming months so stay tuned.

It is important that you look closely at any student loan option to make sure that it is right for you and your circumstances, contact the loan provider directly if you have any questions. For more information on anything in today’s blog please contact the Student Immigration and Funding Office by email: studentfunding@cranfield.ac.uk or skype: studentfunding1.