The EdAid Foundation is a UK registered charity 1163047 established to fund high-potential students who would otherwise not be able to attend University at graduate level in STEM, Law & Finance subjects.
Who
The EdAid Foundation was established to provide funding for UK based students studying at UK Universities who would typically be locked out of higher education. Tuition Fee payments are deferred until after graduation, and through Income Contingent Repayment are designed to be fair and affordable.
Why
We believe that access to education should be universal & that financing should not be a barrier to economic empowerment. The Foundation’s Charitable objects are to alleviate financial hardship and drive economic empowerment through education.
How
Top-performing Students are able to obtain low cost, index-linked funding from the EdAid Foundation to pay for Grad School. Payments are made from the EdAid Foundation directly to the School/University and funds can only be used for Tuition Fees.
Representative example
Pre-Contract Credit Information
FAQ
Who is the team behind the EdAid Foundation?
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The EdAid Foundation is a UK registered charity 1163047 established to fund high-potential students who would otherwise not be able to attend University at graduate level in STEM, Law & Finance subjects.
So what exactly is it that you do?
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Top-performing Students are able to obtain low cost, index-linked funding from the EdAid Foundation to pay for Grad School. Payments are made from the EdAid Foundation directly to the School/University and funds can only be used for Tuition Fees.
How can the EdAid Foundation help?
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We’re making it easier to pay for education. The Foundation enables post-grad level students in the UK to access world-class education without having to pay the full School Fees upfront.
The Foundation selects students who based on high academic potential would benefit from flexible, affordable financing with an interest-free or low-interest loan.
We’ve lived the challenge of paying for higher education, and the Foundation is here to make payment as fair and affordable as possible.
How does it work?
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Deferred Payment Plans enable parents to Students to pay their Tuition Fees over an extended period (normally 12-60 months). During admission, the Foundation select Students who would benefit from flexible, affordable financing. Students go through verification and affordability checks during the EdAid.com enrollment process. Then, if application for financing is successful the Foundation agrees to pay Tuition Fees top the University and the Student pays their tuition fees after they graduate once they have got a job. Payments are monthly and income contingent.
Deferred Payment Plans are either interest free or linked to inflation at RPI (2.9% variable).
How did you come up with this idea?
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The Founder's of the EdAid Foundation recognise the incredible opportunity that a high-quality, career focusted graduate education can bring to someone's chosen profession. However, the upfront financial burden for most Students is too high. As such the Foundation raises impact investment funds to drive diversity at Universities and make the whole process more affordable for a Student.
Can anyone apply to the Foundation for funding?
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In order to apply you will need to have secured a place on your post-grad level course at your chosen University. You will need to be a British or EU citizen with the permanent right to live and work in the UK. You will need to already have a UK bank account and a National Insurance number.
What are the Interest Rates charged?
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If parents cannot pay because they are not working or have a period of temporary hardship, then payments can be temporarily frozen & there are no penalties or fees. If a parent who is eligible to pay, refuses to pay then EdAid will seek to recover the outstanding payments.
How much can I borrow?
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The maxmim amount of funding for 2019 per student will be £12,500. These funds can only be used for paying tuition fees and will be apid directly to your chosen University.
Where can I find out more information about costs and payment terms.
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All Pre-Contract Credit Information can be found by clicking the link below.
How can the EdAid Foundation afford to provide such low-cost loans?
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All the Foundation's loan capital comes from philanthropic support, impact investment funds, Univerities and trusts. All of these supporters believe that the cost of financing education for students is too expensive and believe in our mission of widening participation & delivering economic empowerment at scale.