Answering your student loan questions...

As the OU launches its first webinar to help people find out about student loans, Jackie Nunn from the OU’s Communications team, explains why…

Thursday 26 July 2012 saw the launch of the OU’s first live online seminar (or webinar) to students wanting to find out more about Tuition Fee Loans from Student Finance England (SFE).

Tuition Fee Loans are loans that can be taken out to cover the cost of study and last week saw the formal launch of the part-time student loan system from SFE. It comes after the Government announced last year that, as part of changes to the funding of higher education in England, it would extend student loans (Tuition Fee Loans) to the part-time sector.

Understandably, people have questions about this new system and so the OU hosted a webinar to give out clear information and answer any questions. This was an interactive session which covered key facts about Tuition Fee Loans and allowed participants to listen in and pose live questions to advisors using the interactive ‘questions’ box on screen.

The OU’s Jane Connolly, from Student Services, presented the details about Tuition Fee Loans from SFE, including eligibility, repayments, how to apply, other ways to pay, what the loan form looks like and where to find help and advice.

Many questions were submitted to the panel of OU advisors taking part, for example - What happens if my salary changes?

Student Services’ Phil Berry advised that because of the involvement of HMRC any changes in salary will change the amount you pay back and should take place automatically.

Other questions around eligibility included – I’m only 17, will I be eligible? and Student Services' Julie Kelly advised that there is no age limit when applying for a Tuition Fee Loan.

Another question was Can I apply for a loan for short or post graduate courses? And Julie advised that Tuition Fee Loans are only available for undergraduate qualifications and PGCE at the current time.

Most new part-time students can now apply to SFE for a Tuition Fee Loan to help them study. All details can be found by logging onto StudentHome or visiting our Ways to Pay website.

You can listen to the webinar here...