For Indian students, getting an education loan for a Master’s in Journalism in the UK is a straightforward process. Banks and NBFCs offer personalised loan products to aspiring students and help them secure funds for their higher education abroad. Various dedicated schemes like SBI’s Global Ed-vantage, Baroda Scholar, and Cent Vidyarthi offer need-based financing. You can avail unsecured loans of up to INR 1 crores with many lenders. To know more about top loan providers, interest rates, and features, continue reading further.
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Overview of Master’s in Journalism in the UK
Master’s in Journalism in the UK is a 1-year full-time and 2-year part-time course. You must have a bachelor’s degree in Journalism with at least 60% marks. Some of the top universities offering this course are the University of London, the University of Leeds, the University of Westminster, and the University of Leicester.
From Journalism in Digital Media and Society to Multimedia and International Journalism, you can apply for a wide range of specialisations. The average tuition fees range from GBP 17,000 to GBP 26,000 annually (INR 18.28 lakhs to 27.96 lakhs) based on the university and city chosen.
After completing a Master’s in Journalism in the UK, you can earn an average salary of GBP 25,000 (INR 26.89 lakhs) annually. Top employers include BCC, CNN, and Sky News.
Also Read: Planning to pursue law? Check out the details on education loans for a Master’s in Law in the UK.
Why take an Education Loan for a Master’s in Journalism in the UK?
The higher costs of studying and living in the UK make it challenging to cover study abroad funds. Thus, many financial institutions in India offer education loans for Masters in the UK. Taking an education loan for a Master’s in Journalism in the UK covers tuition fees, living expenses, and other related expenses. This way you can focus on your studies as you pursue your dream program without any financial constraints.
A student loan also means investing in higher education. This leads to higher earning potential, making loan repayment easier. Most lenders offer flexible repayment terms, allowing you to manage your finances effectively. Thus, taking an education loan for Journalism is a good choice to cover finances and take a step forward for your academic career in the UK.
However, you must pursue the full-time course. Student loans for part-time courses in Journalism in the UK are not available. You get need-based financing without an upper limit on the loan amount. You can avail of both secured loans and unsecured loans based on collateral availability.
Best Lenders for Education Loan for Master’s in Journalism in the UK
Multiple financial institutions offer education loans for Master’s in Journalism in the UK. Banks and NBFCs offer tailored solutions to support your academic journey. Top lenders include SBI, Bank of Baroda, ICICI, Axis Bank, HDFC, Central Bank of India, Avanse, Prodigy Finance, MPower Finance, and HDFC Credila. Interest rates range from 8% to 14% p.a.
Central Bank of India
Under the Cent Vidyarthi loan scheme, the Central Bank of India offers education loans up to INR 2 crores. The interest rates start from 8.10% p.a. The bank covers a wide range of expenses like travel costs, living expenses, equipment, books, laboratory costs, and student travel insurance. The loan amount is directly disbursed to the university’s account.
State Bank of India
SBI offers attractive interest rates on education loans for Master’s in Journalism in the UK. Under the SBI Global Ed-vantage Scheme, you can avail loans up to INR 1.5 crores. You can apply easily through their official website or the SBI YONO app. There are no hidden costs as the online application process is completely transparent.
ICICI Bank
The bank offers secured loans up to INR 2 crores. You can also avail of collateral-free loans up to INR 1 crore with quicker processing and loan sanctions. The interest rates start from 14.10% p.a. Government employees and people with a minimum of 2 years of experience get additional benefits with ICICI bank education loans to study abroad.
Auxilo
Students can easily get education loans for a Master’s in Journalism in the UK with Auxilo. This is one of the best NBFCs that is known for the fastest loan sanctions. It offers need-based financing and unsecured loans up to INR 40 lakhs. If you have an excellent credit score, you can get multiple benefits like lower interest rates with an Auxilo education loan.
Prodigy Finance
Another popular NBFC offering student loans for Master’s in the UK is Prodigy Finance. It covers 100% costs of studying and all the related study abroad expenses. With their online application process, you can apply at your convenience and attach the documents.
Also Read: A career in education from the UK is a great option. Check out the details on education loans for a Master’s in Education in the UK to cover the study abroad expenses.
Eligibility & Documents Required
To secure an education loan for your Master’s in Journalism in the UK, you typically need to be an Indian citizen and be between 18 years to 35 years old. You must have a co-applicant with a stable income and a good credit score. Besides, admission must be taken to a recognised university through an entrance examination or merit basis.
For quicker approvals, you must fulfil the stated eligibility criteria. Along with this, you should attach the following documents while submitting the loan application form-
- Identity and address proof (Aadhaar, PAN card)
- Academic transcripts
- Admission letter
- Financial documents (income proof of co-applicant)
- Loan application form
Remember, specific requirements may vary between lenders. It’s essential to check with your chosen bank or NBFC for a complete list.
How to Apply?
There are multiple ways to apply for an education loan for a Master’s in Journalism in the UK. You can either visit the nearest bank branch or apply online on the official website of the lender. The easiest way to apply is by registering yourself on the Vidya Lakshmi Portal. Log in and search for the bank you wish to apply for a loan with.
Click on the education loan scheme and fill out an application form. Attach the supporting documents and submit the form. Wait for the confirmation.
This was all about education loans for a Master’s in Journalism in the UK. To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
FAQs
Yes. Getting an education loan for a Master’s in Journalism in the UK is a straightforward process. Banks and NBFCs offer personalised loan products to aspiring students and help them secure funds for their higher education abroad.
Various dedicated schemes like SBI’s Global Ed-vantage, Baroda Scholar, and Cent Vidyarthi offer need-based financing. You can avail unsecured loans of up to INR 1 crores with many lenders.
Top lenders for education loans for Master’s in Journalism in the UK include SBI, Bank of Baroda, ICICI, Axis Bank, HDFC, Central Bank of India, Avanse, Prodigy Finance, MPower Finance, and HDFC Credila.
Yes. Taking an education loan for a Master’s in Journalism in the UK covers tuition fees, living expenses, and other related expenses. This way you can focus on your studies as you pursue your dream program without any financial constraints.
The amount of loan needed depends on your requirements. However, make sure that it covers the tuition fees of GBP 17,000 to GBP 26,000 annually (INR 18.28 lakhs to 27.96 lakhs) and accommodation expenses in the country.
The amount of the loan depends on your requirements, credit score, and family income. Some banks offer 100% financing, while others offer unsecured loans up to INR 1.5 crores. Interest rates on education loans for Master’s in Journalism in the UK range from 8% to 14% p.a.
