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You can get a student loan even if you are aged between 50 to 54 years. However, in this case you will have to confirm that you plan to work after completion of your course. Usually student loans are designed to take care of costs of living, which includes costs made on accommodation, food, clothes, and travel. Just 25% of loan is evaluated on basis of your income.
For detailed information about amount of student loan and legal procedure, get in touch with local student loan award authority. This authority will manage initial part of your student loan application. You will be tested with respect to your means and eligibility to justify your qualification for student loan. You can also submit your application online with a reliable lending firm.
Against loan, you are to pay a monthly interest that is based on rate of inflation calculated daily from start date of your student loan. You start repaying after finishing course and after you reach income level of over £10,000 a year.
However easy procedure of getting a loan is, remember that you have to repay them. It is better to plan for repayments while you are applying for student loans. This increases your credit rating as well as relieves you of severe financial tension in future.
Joseph Kenny is the webmaster of the loan information sites Select Loans and also UK Personal Loan Store.