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OUSBA - Open University Student Budget Accounts
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Frequently Asked Questions

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View frequently asked questions for the topic 'Most commonly asked'
How much are the monthly instalments?

If you are a new Student and your fees are up to £6,500 for 120 credits of undergraduate study
Repayments on a 60 credit module will be over twelve months, repayments on a 30 credit module will be based over six months whilst repayments on a module of less than 30 credits will be in three or four instalments depending on the duration of the module. If you choose to study two 30 credit modules that start in the same month then this is equivalent to the repayment of a 60 credit module and so the fees will be repaid over twelve months.

Here are some examples of repayments:
Module costs £1506.00 (30 points)
6 Monthly repayments of £254.61
Total Amount paid £1527.66 (includes Total Interest of £21.66)

Module costs £3012.00 (60 points)
12 Monthly repayments of £257.80
Total Amount paid £3093.60 (includes Total Interest of £81.60)

2 Modules costing £3012.00 (2 modules at 30 points starting in same month)
12 Monthly repayments of £257.80
Total Amount paid £3093.60 (includes Total Interest of £81.60)

New or continuing undergraduate students in Northern Ireland, Scotland, Wales.
Your monthly repayments will be determined by the duration of the module less one month.

New and continuing postgraduate students
All postgraduate modules will be repaid monthly over the duration of the module less one month irrespective of your place of ordinary residence.

Here are some examples of repayments:
Module costs £1512.00
8 Monthly repayments of £192.51
Total Amount paid £1540.08 (includes Total Interest of £28.08)

Module costs £2016.00
8 Monthly repayments of £256.69
Total Amount paid £2053.52 (includes Total Interest of £37.52)

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Can I pay my agreement off in full at any time?

You can settle your agreement at any time.

Please contact the office for a Full Settlement Quotation.

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Will taking out this agreement affect my credit rating?

As a responsible credit provider OUSBA discloses information relating to the status of your agreement to the credit reference agencies Equifax and TransUnion International UK Limited.

For more information concerning your credit file and credit reference please visit the Equifax or TransUnion website.

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How do I open an OUSBA agreement?

When you enrol with the Open University via their online service you will be offered the opportunity to pay for your module using OUSBA. If the OUSBA payment option is available and you select this as your method of payment you will be linked directly to the loan application system.

If you enrol via the telephone you will be sent an email with a link that will take you to the loan application system. If you require further assistance an OUSBA advisor can be contacted on +44(0)1908 655777 or 0300 3037444.

To enable us to process your loan application in a timely manner, we recommend you have your accurate income and expenditure details available.

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When will payments be due on my agreement?

The first payment date will normally be one month after the module start date.

If this date is not convenient then this can be changed. Please contact the OUSBA office.

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What should I do if I run into financial difficulties?

Please call +44(0)1908 655777 or 0300 3037444 to speak to an advisor who will be happy to help you.

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