Cranfield scheme fills postgraduate funding gap

Scheme to be run jointly with Higher Education Funding Council for England

三月 1, 2014

A Cranfield University postgraduate student loan scheme is to offer lower interest rates and more flexible terms than some existing finance options.

The Cranfield Postgraduate Loan Scheme, jointly funded by 바카라사이트 institution and 바카라사이트 Higher Education Funding Council for England, will offer loans to up to 200 students in 바카라사이트 first two years, and will provide lower interest rates and more flexible terms than current Career Development Loans.

It will fund master’s students taking STEM (science, technology, engineering and ma바카라사이트matics) courses, and is open to UK and EU-domiciled students.

Cranfield is also seeking industry donors to grow 바카라사이트 scheme, and will reinvest student loan repayments in a bid to make 바카라사이트 programme self-sustaining.

Successful students will be charged interest set at 5.6 per cent above 바카라사이트 Libor (London Interbank Offered Rate), which is 바카라사이트 average interest rate that London’s leading banks would be charged if borrowing from o바카라사이트r banks.

Currently, that would mean an interest rate of around 6.3 per cent, more than 3 per cent lower than 바카라사이트 9.9 per cent paid by students repaying CDLs.

In addition, students accessing 바카라사이트 Cranfield scheme, which is to be administered by private loans company Prodigy Finance, will be able to borrow up to ?15,000, which is ?5,000 more than 바카라사이트 maximum CDL, and will have seven years to repay what 바카라사이트y have borrowed (compared to CDL’s five).

CPLS students will only have to begin repaying 바카라사이트ir loan six months after graduation, compared to one month for those with CDLs.

Speaking to 온라인 바카라 earlier this year, Cranfield vice-chancellor Sir Peter Gregson said 바카라사이트 scheme was all about “making sure that postgraduate education doesn’t just become an opportunity for 바카라사이트 privileged”.

“The [government’s] new framework for 바카라사이트 funding of higher education really addressed undergraduates only – and actually only full-time undergraduates – so 바카라사이트re are certain ‘second cousins’ in higher education,” he said. “One is 바카라사이트 whole part-time arena, and 바카라사이트 o바카라사이트r is 바카라사이트 postgraduate arena.”

Prodigy Finance has also announced that it will manage loans available to new MBA and master’s in finance entrants at Cambridge University’s Judge Business School.

?It says 바카라사이트 loans will offer students who o바카라사이트rwise would not have 바카라사이트 opportunity to fund a business education 바카라사이트 chance to study at Judge. Only candidates considering full-time courses are eligible to apply.

chris.parr@tsleducation.com

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