One way of financing your Open University studies is by taking out a Part-Time Tuition Fee Loan (also known as a student loan). This is by far the most popular way of financing Open University studies. Currently, more than 60% of our new students in England are paying their fees with a loan.
The loan is:
If your application is successful, Student Finance England pays your course fees, and you pay them back later in affordable monthly instalments once you're earning over a certain amount (currently £21,000). The repayments will be linked to your income to ensure they’re affordable (for example, if you earn £25,000, you'll pay just £29 per month).
Please note you'll be charged interest on the loan from the day you take it out.
Even if you plan to study at full-time equivalent intensity with us, you can still apply for a Part-Time Tuition Fee Loan.
*You may be eligible for a loan for some qualifications, even if you already have a degree. Find out more about loans if you already have a degree.
First, register with us for the qualification you'd like to study. Choose your modules and tell us you'll be applying for a loan. Then, apply for a Part-Time Tuition Fee Loan starting in the 2017/18 academic year online via Student Finance England.*
*We anticipate that Student Finance England will be accepting online loan applications for the 2017/18 academic year in late May 2017.
Learn more with our step-by-step guide to applying for the Tuition Fee Loan.
You'll have to set up a Student Finance online account, but this is quick and easy to do. The application process should take about 15 minutes, and you'll need to give details about your proof of residency and identity. It will be helpful to have your passport details and National Insurance number to hand.
It can take Student Finance England up to six or eight weeks to finalise applications, so apply as early as possible to ensure your finances are in place in time to start your course.
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