FAQs
Q1. Can you apply for finance if you work overseas?
A. Yes, provided your main residence is in the UK and you hold a UK bank account.
Q2. Will the School Fee Plan undertake a credit assessment?
A. Yes, under UK law we are required to conduct an assessment of creditworthiness and we may conduct a search of your credit records, request a credit score, or use any current or previous credit agreements to help us carry out a credit assessment.
Q3. When can you apply for school fee finance?
A. You can apply at the beginning of the Autumn and Spring terms.
Q4. Can you repay the outstanding loan at any time?
A. Yes, you can repay any outstanding balance at any point during the term of the loan without penalty.
Q5. When will we pay the term’s fee to the school?
A. On approval, we will pay the school at the start of each term.
Q6. Are there any hidden charges?
A. No, subject to payments being made in accordance with your credit agreement, you will only pay the transaction fee applicable.
Q7. Can you vary the Direct Debit due date?
A. Yes, you can pay on any day of the month. However, payments can only be made 5 days later than the due date. For example, if the due date is 1st September and you would like the Direct Debit payment to come out of your bank account on the 28th of the month, the payment date would be moved to 28th August and monthly on the 28th thereafter.
For more information of School Fee Plan, click here for our free guide to find out how it works, the pros and cons and some frequently asked questions that will help you decide whether school fee finance is the best option for you.
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Tel 01372 746 006
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