How does OUSBA work?
When you enrol with us, we’ll offer you the opportunity to pay your fees through a loan from OUSBA. If you choose this way to pay, OUSBA pays your module fee directly to the OU on your behalf.
You can repay OUSBA any time before the module begins. In this case, any amount you pay has no interest applied.
Alternatively, you can repay OUSBA in monthly instalments payable over up to 12 months. Once your module begins, interest does apply. The interest rate is fixed for the duration of the module, currently 5.1% APR representative.
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. An OUSBA agreement is a legally binding credit agreement between yourself and OUSBA Ltd. By signing an agreement with them you’ll be liable for the repayments in accordance with its terms and conditions.
Many students find OUSBA to be a convenient ‘pay as you go’ option.