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Success Story – “This Loan has Benefited Me Massively”

Success Story – “This Loan has Benefited Me Massively”

In addition to providing loans to young people in Leicestershire wishing to start up a business venture, the Sir Thomas White Loan Charity also provides education loans of up to £6,000 to assist in post-graduate study.

One person to benefit from one of the Sir Thomas White Loan Charity’s education loans in recent years is Patrick Haines, who graduated with an MSc in Health Economics from the University of York…

How did you find out about the Sir Thomas White Loan Charity?
A relative of mine works in the same building as the Sir Thomas White Loan Charity, and when she heard that I was looking for help with funding my further studies, she recommended that I contact them.

What was the purpose of your education loan, and were there any specific elements that the funds were required?
The education loan I received from the Sir Thomas White Charity was used to pay the tuition fees for my MSc in Health Economics at the University of York.

I had researched extensively for loans or grants designed for students wishing to undertake a Master’s degree and they were not as readily available as they are for a Bachelor’s degree.

I was left with the option of getting a loan from a bank, which would have been high interest and would have required me to commence paying back the loan almost instantly. Then I heard about the STWLC education loan, which was no interest and gave me time to finish my studies and find work before paying it back.

How did you find the application process?
The application process for the education loan was extremely easy. I recall filling in a few forms and then attending an interview, all of which were straight forward. If I had any issues with the process then I knew that I could always email/call someone at the Sir Thomas White Loan Charity and I would receive a prompt reply detailing all the information I had asked for.

What would your advice be to any prospective education borrowers?
My advice to any prospective education borrowers would be to give serious consideration to the Sir Thomas White Loan Charity.

The whole process was very simple and geared towards helping you as much as possible.

The benefit of the loan being no interest cannot be stressed enough, especially as I had come straight from my Bachelor’s degree and already had a large student debt to repay.

One word of warning; although the Sir Thomas White Loan Charity give you plenty of time to find work after completing your degree (or whichever qualification you may use the loan for), it is worth making sure that you will be entering a job market where you will get a job.

This is because the education loan from the STWLC has to be backed by a guarantor (they are a charity after all!) and if you do not have a job, then your guarantors will have to repay the loan for you.

How have you benefited from the loan? How did your studies go and has your qualification assisted in obtaining a job in your desired field?
This loan has benefited me massively.

I graduated from my undergraduate studies at the University of Liverpool with a first class degree in Economics with Honours. Because I had done so well in my undergraduate degree, I thought that I would be able to find a job relating to it easily; however, this was in 2012 and at the time the job market for young graduates was extremely competitive.

As part of my degree, I had studied one module in Health Economics, which I thoroughly enjoyed, and I knew that this was a rapidly evolving area of economics that had only been made more relevant by the economic crisis and resulting efficiency savings being experienced by healthcare systems worldwide. I knew that if I could get an MSc in Health Economics then I would secure a job with relative ease.

Surely enough, after I completed my MSc in Health Economics, I received several job offers and I now work for a rapidly-growing health economics consultancy firm in the south of England.

I have no doubt that if I did not receive the education loan from the Sir Thomas White Loan Charity then I would either still be looking for a job, or I would be working in a job that had no relation to my degree.

To find out more about the Sir Thomas White Loan Charity’s education loans, CLICK HERE.