Are you in Student grant limbo? Concerned that you might not be able to find the financial support you need to continue with your education? For students from Guernsey, Jersey and the Isle of Man, government grants aren’t simply available at the drop of a hat. And if you're pursuing higher education in the Isle of Wight, you might want to think about how you want to fund this. If you’ve applied for funding but aren’t sure you’ll get it, or if you find that you haven’t received enough, Cherry Godfrey’s Student Loans team are here to help you achieve your academic dreams.
Over the last 30+ years, we’ve built a business based on valuing our customers – including the next generation’s key players (e.g. you!). We’re committed to supporting young talent across Guernsey, Jersey and the Isle of Man, offering tailor-made student loans that will cover a range of essential (and non-essential) expenses. Keep reading to find out more about how we can help you get your finances on track – so you can spend more time on your studies and making the most of all Higher Education has to offer!
What Can a Student Loan Be Used For?
Course fees, accommodation, travel… when it comes to studying, the costs can seem to pile up quickly. And that’s before you even get to other items – such as bills, books, and socialising! Even if you’ve applied for a government grant, you might find that you require extra financial support to allow you to fully commit to – and enjoy – the Higher Education experience. Our team will get to know you and your requirements, tailor-making a loan that will suit your individual requirements and provide the money you need, when you need it.
Any loan you take out with us is separate to a government grant and is totally flexible. You can borrow funds for both course fees and living costs. Typically, the term of the loan will last for the duration of your studies, but we can be adaptable depending on your needs: just come and talk to us! And if you need more money during the course of your studies, don’t worry – we’ll work something out with you.
Can Anyone Apply For A Student Loan?
Yes! We offer tailor-made finance solutions for students pursing Higher Education whether on Island or overseas – all you need is a parent or guardian to stand as guarantor and as party to the agreement. There are no hidden charges, either.
Broadly speaking, we offer two types of loan. For part-time studies – where there’s an option to work alongside your course – a simple personal loan might be the best choice. For most students, however, we’d recommend a loan with interest-only repayments: a financial solution with very manageable monthly payments. At the end of your first year, the outstanding loan amount can be consolidated into your second-year fees; and, when it comes to graduation, we can refinance the course fees as a personal loan (with continued preferential rates). Bear in mind, too, that overpayments can be made at any time to reduce the loan principal.
How Do I Apply For a Student Loan?
Applying for a loan might seem scary; but don’t worry, we’re here to help. Give us a call, contact us online or pop in for a chat and we’ll take you through the various options, discussing your plans and situation in detail so we can find the best deal for you. After this, we’ll provide you with a free, no obligation quote for your Student Loan (note that, if you wish to proceed with your application, we may request some additional details like a guarantor). We will then undertake the necessary credit checks. The process is quick and easy: if your loan application is approved, all you’ll need to do is come in and sign a few documents, and then the funds can be transferred into your account on the same day! It couldn’t be simpler. Get in touch with Cherry Godfrey today to take the next steps on your journey.
