A loan proposal can sometimes include formal “conditions.” These are simply the specific requirements that need to be met for your loan to be finalised. They help ensure everything is set up correctly for you and for us.
This guide breaks down the conditions you might see in your proposal, using the exact wording from your document to explain what they mean for you.
A Breakdown of Common Loan Conditions
General Verification and Assessment Conditions
These cover the mandatory steps Lendwise takes to confirm your eligibility and creditworthiness before final approval.
🖊️Loan proposal and the Interest Rate is subject to satisfactory review of your Credit Report by Lendwise
↳ Your loan proposal and the interest rate are subject to a final, satisfactory review of your credit report by Lendwise. This review ensures that your credit profile meets our requirements before your loan and interest rate are confirmed.
🖊️Your Loan Proposal is subject to our document verification process (you will see details of the documents required to upload after you accept this non-binding proposal)
↳ Your loan proposal is “provisional” because we have provided you with a loan proposal based on the information you have provided in the application form. We need to verify that this information on which we based the loan proposal is accurate. After you accept this non-binding proposal, the system will show you exactly what you need to upload (e.g., proof of ID, university offer letter, bank statements).
🖊️Lendwise loan proposals are subject to a satisfactory review of your own funds/savings as per your application
↳ Lendwise will review the personal funds or savings you’ve declared in your loan application. Your loan proposal will be approved on the condition that you have enough personal funds to cover living expenses or any other required costs that are not covered by the loan. This ensures that you can manage your day-to-day expenses during your course without relying solely on borrowed funds.
🖊️As Lendwise loans are primarily for use towards tuition fees, your Loan Proposal is conditional on proof of adequate personal funds to cover personal expenses across the duration of the course
↳ Lendwise loans are primarily intended to cover tuition fees rather than living or personal expenses. For this reason, your loan proposal is conditional upon providing evidence of sufficient personal funds to meet your living costs throughout the duration of your postgraduate course.
You may demonstrate this through bank statements, savings, family support, part-time employment income, or scholarship funding.
This requirement is in place to make sure you can focus on your studies without financial strain, and that your overall budget for your postgraduate program is realistic and sustainable.
Loan Amount Adjustments (How we calculated the final amount)
These explain why the final number in your proposal may differ from your initial request.
🖊️Loan amount corresponds to the amount you requested
↳ This is a confirmation that the loan amount in your proposal is the same as the amount you asked for.
🖊️Loan amount has been adjusted to take into consideration the correct amount of tuition fees
↳ We have adjusted the loan amount to match the exact tuition fee amount confirmed by your university.
Example: You may have requested £15,000 but your final tuition balance is £14,800. We have therefore adjusted the loan to £14,800.
🖊️Loan amount has been adjusted to take into consideration the correct amount of the UK Government Postgraduate Loan
↳ Your Lendwise loan amount has been recalculated based on the amount you’ll receive from the UK Government Postgraduate Loan. This ensures you’re not borrowing more than necessary.
🖊️Lendwise loan proposal covers you for the amount of tuition fees stated less your deposit (which must be paid from your own funds/non-debt source) less any scholarships you may receive
↳ The Lendwise loan will only cover the tuition fees after subtracting your deposit and any scholarships. Your deposit cannot be paid using another loan, it must come from your own money (savings, family support, etc.) or a scholarship. Any scholarships you receive for tuition will reduce the amount you need to borrow from Lendwise.
It’s essentially a formula:
Lendwise loan = Tuition fees – Deposit – Scholarships
🖊️Loan amount has been adjusted to take into consideration your Alumni Discount
↳ Good news! We’ve lowered your final loan amount to account for the alumni discount you are receiving.
🖊️Loan Proposal Amount is less than requested amount as per our assessment the requested amount would not provide affordability of repayment
↳ After reviewing your application, our loan affordability calculator which takes into consideration current or past salaries, current debt burden and median earnings of graduates of the course you aspire to study, has shown that the full amount you requested may not be affordable for you to comfortably repay. Therefore, we have offered a lower loan amount that ensures your repayments remain manageable.
🖊️Lendwise loans are denominated in GBP. We note that the figures used in your application are in another currency. Loan amount has been adjusted to reflect this
↳ All Lendwise loans are denominated in GBP (Pounds Sterling). If you are studying at a non-UK university and have entered your funding requirement in your application in a different currency, the loan amount has been adjusted to reflect the equivalent value in GBP.
Payment Logistics and Sequencing (When funds are paid)
This section is the most critical for clarity, as it explains the order in which funds are disbursed to the university, especially when coordinating with government loans.
🖊️Lendwise loan funds (excluding fees) to be paid to the university only after all other tuition, including deposit, has been paid from non-debt funds/scholarship, making the loan the final payment
↳ This is an important requirement: you must pay your university deposit and any other portion of your tuition using your own funds (such as savings or family support) or a scholarship before the Lendwise loan can be applied. The Lendwise loan is intended to be the final payment that settles your tuition balance.
🖊️Lendwise loan funds to be paid to your university subject to the prior payment of the FIRST instalment of the Government Postgraduate Loan towards your tuition fees
↳ Lendwise will pay your loan funds to your university after the first installment of your Government Postgraduate Loan has been applied to your tuition fees. This ensures that your Government funding is used first, with the Lendwise loan covering any remaining balance. The process helps keep your overall payment plan clear, coordinated, and in line with funding requirements.
🖊️Lendwise funds are paid to your university to settle the remaining tuition balance, only after all installments of your Government Loan have been paid towards your fees
↳ If you are also receiving a Postgraduate Government Loan, all installments of that loan must be used to pay your tuition fees first. Once your Postgraduate Government Loan has been fully used to pay your fees, the Lendwise loan will then be paid directly to your university to cover any remaining balance. This ensures that your tuition is fully paid while coordinating with other funding sources, providing a clear and manageable payment plan throughout your studies. It also means that you will be likely paying interest on money borrowed for a shorter period of time.
Course Duration and Enrollment
These cover scenarios specific to multi-year courses and the timing of personal expense payments.
🖊️For courses over 1 year, the initial loan amount covers Year 1 only. You’ll be pre-approved for the remaining amount, pending no major changes in circumstances or credit, and will need to submit a second streamlined/shorter application closer to the time
↳ For postgraduate courses lasting more than one year, the initial loan amount will cover Year 1 only.
When you submit your loan application, you should apply for the full amount needed for the entire course. You will then be pre-approved for funding for the following years, subject to no major changes in your circumstances or credit profile. When the time comes to access the remaining funds, you will need to submit a second, streamlined application, which is shorter and simpler than your initial application.
This process ensures that your funding remains appropriate and manageable throughout your course, while giving you some flexibility if your circumstances change.
🖊️Personal Expenses Loan will be disbursed following confirmation of enrolment on campus and full settlement of fees
↳ If your loan does include funds for personal expenses, this portion will be paid to you only after two conditions are met:
1) your enrollment on campus is confirmed, and
2) your tuition fees have been fully paid.
Managing Other Debt and Affordability
Conditions relating to combining funding sources and ensuring overall financial health.
🖊️You may not combine a Lendwise loan with another student loan from a private lender towards this course (tuition fees or personal expenses); This may invalidate the loan proposal. If unsure, please check with the Lendwise Loans Support Team
↳ You cannot combine your Lendwise loan with another private student loan for the same course whether for tuition fees or personal expenses. Doing so could invalidate your loan offer. If you’re unsure about your situation (for example, whether a government loan is affected), please contact the Lendwise Loans Support Team for guidance. This is to ensure that you will not overborrow.
🖊️You will be responsible for paying the remaining tuition fees through the second and third instalments of the Government Postgraduate Loan without incurring additional private debt
↳ This is a specific plan where you have agreed to pay the rest of your tuition fees using the second and third instalments from your Government Postgraduate Loan. You must not take on additional private debt to cover these payments. This ensures that your funding plan is manageable and that the Government Loan installments are used as intended. This also means that you are not eligible to apply for additional loan funds from Lendwise during your studies.
🖊️Maintain continuous employment for the duration of the course for which this loan is being extended. This employment must provide sufficient income to meet regular loan repayment obligations as outlined in the repayment schedule of this agreement
↳ This applies to part-time students. To ensure you can afford your loan repayments, you must remain employed and earn a similar amount to what you have stated in your application for the duration of your studies.
Refinancing & Market Changes
These are for applicants either refinancing or awaiting their final loan start date.
🖊️Interest Rate Notice: The interest rate quoted is based on current market conditions and may change if there are significant changes in the market before your loan start date. We will provide updates if any changes occur
↳ The interest rate we’ve offered is based on current market conditions. This rate may be adjusted if market conditions shift significantly before your loan officially starts (before you sign your loan contract). We will inform you promptly if any changes occur and explain how they affect your loan payments.
🖊️The final loan amount will be adjusted upon receipt of your Loan Settlement letter
↳ This is for refinancing an existing loan with another education finance provider. The final amount of your new Lendwise loan will be confirmed once we receive a Loan Settlement Letter from your previous lender. This letter specifies the exact amount required to pay off your old loan, and ensures your Lendwise loan covers only what is needed or does not lead to a shortfall.
🖊️Your interest rate is fixed for the entire duration of your loan compared to your existing loan rate which is variable
↳ A key feature of your refinance loan is that your interest rate is fixed for the entire duration of the loan. This means your rate will not change, providing certainty over your repayments. This may be different from your existing loan, which had a variable interest rate that could increase or decrease over time.
We’re Here to Help
We hope this guide makes your loan proposal much clearer! Our goal is to be a transparent and supportive funding partner.
Remember, this is a general guide. If you have any questions about a specific condition in your proposal, please don’t hesitate to contact the Lendwise Loans Support Team.
We are always here to help.
Ready to Fund Your Education? (For Prospective Borrowers)
If you’re reading this before applying for a loan, we’re glad you’re getting informed! Understanding the process upfront helps you move forward with confidence.
Ready to take the next step in your education funding journey?
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