Securing your funds for your second year of study can be stressful.Follow our guidance below for everything you need to know about your second year funding application.
- What do I do if I need to apply for second year funding?
- What will influence my second year application approval?
- Part Time Applications for Second Year
- US State Ineligibility due to residence
- How do I apply for my Second Year?
What if I need to apply for second year funding?
If your application says pre-approved, this means that you’ve been conditionally approved for your next year’s funding.
In order to confirm your funding, you'll need to submit a new application and share a few updates with us.
Applications open twelve months before the start of the academic period. Be sure to complete your application at least a month before the start of the academic period (don't worry, we'll send a reminder).
What will influence my second year application approval?
There are a few things to consider when applying for your second year loan, during your first year:
- You need to keep your credit profile in good order.
- Your financial position should remain unchanged - or maybe improved with a post-study job offer.
- Be careful taking on additional debt, beyond what you already told us about in your original application.
- If you set aside savings for your second year that you declared in your first year application, you'll need to prove them as part of your new application.
Part-Time applications for second year
If you are a part-time student, remember that your income should not decrease while you're studying.
- We've estimated your loan amount based on the premise that you'll be earning at least the same amount as declared in your first application
US State ineligibility due to residence
Be aware that if your school is located in an ineligible state, it is recommended that you request funds to support your future periods in advance. Some States may not allow you to submit a brand new application for your second period if you have not already made provision for us to reserve these future funds for you.
This may apply to the following states:
- Alabama, Arizona, Arkansas, Connecticut, Delaware, Hawaii, Idaho, Indiana, Iowa, Maine, Michigan, Mississippi, Minnesota, Montana, Nevada, New York, North Dakota, Ohio, Rhode Island, South Dakota, Vermont, Washington, West Virginia or Wyoming.
To see the location of your school and whether it is located in an ineligible state, please use this link as a guideline: full list of schools
How do I apply for my Second Year?
If you are now ready please follow the steps provided in the following article “How to apply for your second year of funding”