As a responsible lender, every application made to OUSBA undergoes a credit and affordability check with a Credit Reference Agency to ensure you can meet your financial obligations.
Many students find OUSBA to be a convenient ‘pay as you go’ option.
Joint loan applications
If you feel you would be unable to obtain an OUSBA loan on your own due to credit history or affordability issues, OUSBA offers the option to apply for a joint loan application with a third party, i.e. husband, wife, partner, parent, sibling friend etc. In such cases, OUSBA will be required to carry out additional affordability checks separately and/or collectively for both joint applicants who will be jointly and severally liable for loan repayments.
As additional affordability checks are required when processing joint loan applications, unfortunately, an instant decision cannot be given. On average the processing time for a joint loan application is five working days from receipt of the required documentation.
Learn more at the OUSBA website.