Interest Free Loan for Immigration Related Expenses
Loughborough University offers financial support for the immigration-related costs of international staff incurred during their employment at the University and for the immigration-related costs associated with their immediate, accompanying family members.
Main applicant visa fees can be reimbursed under the Visa Reimbursement Scheme up to £4,000 and the interest free loan is available for other immigration-related expenses, including those associated with their dependents where these costs are unable to be claimed via the standard Relocation Expenses Reimbursement scheme. The maximum loan amount is £10,000 per staff member.
Eligibility
The interest free loan scheme is available to international staff across all job families who:
- are offered, accept and commence appointments of at least one year
- Skilled Worker visa holders can only be approved for a loan if, after the repaying of the loan, their remaining annual salary is still equal to or higher than the required minimum salary, either the sponsorship salary threshold or the standard "going rate" for their job, whichever is higher
Process
To apply for the interest free loan, please complete the form on this page setting out the relevant immigration-related costs that will be incurred and the total amount requested, including proof of expense.
Applications should be signed by the member of staff and submitted by email to the School / Service Admin for endorsement by the Dean/Director.
Approved loans will be paid in sterling into a UK bank account held in the name of the member of staff on the application form, and this will be the same bank account into which the salary is paid.
The loan will be repaid as a monthly salary deduction in equal instalments and must be repaid within three years or by the end of the length of the employment contract, whichever is the shorter.
Should the employee leave Loughborough University the remaining balance of the loan will be repayable immediately with an automatic deduction from the final salary. If the salary amount is insufficient to cover the remaining debt, an invoice will be raised to the member of staff and the balance will become immediately due.