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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 'About OUSBA'
How do I apply for a Post Graduate Loan?

If you wish to discuss paying your fees in conjunction with your government funded maintenance loan or grant please select the SLC Post Grad Linked Loan option on the website. Your application will then be paused and a member of the OUSBA team will contact you to discuss this in more detail.

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Where can I view The Open University Accessibility statement?

The Open University Accessibility statement can be found by clicking on the link below:-

OU Accessibility Statement

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How do I apply for a Doctoral Loan?

If you wish to pay your fees using an OUSBA loan, please contact the office on 0300 303 7444 to make an appointment with an advisor.

You will be required to bring the following information with you to support your application:-

- A valid form of Identification
- Your last three months banks statements
- Your letter of entitlement for the doctoral government loan

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What Trade Association is OUSBA affiliated to?

OUSBA is a member of the Finance Leasing .Association, details of their lending code can be found on the FLA website, copies of the lending code are also available upon request.

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How Do You use my Personal Information on a Loan Application?

Information on how we process and use your personal data can be found in OUSBA's Privacy statement by clicking on the following link and selecting OUSBA Privacy Statement under the Policies and Procedures section.

Freedom of Information Website

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How do I cancel my direct debit with OUSBA?

Contact the OUSBA office on 01908 655777 or 0300 3037444

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How do I amend my personal details?

It is your responsibility to keep OUSBA updated of any changes to your personal details.

Any changes you make with The Open University will NOT be passed on to OUSBA automatically.

To make any changes please log on to your online OUSBA account or email change details to ousba@open.ac.uk

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Can I get a receipt for my payment?

No, a receipt is not available for confirmation of payment.

However, you can view all your financial transactions by logging into your online OUSBA account.

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Who can use OUSBA?

In order to use OUSBA you must:
- Be aged 18 years or over
- Have no history of bad debts such as CCJs or bankruptcy
- Be resident in one of the following countries
United Kingdom
European Union
Switzerland
Norway
Iceland
Andorra
Liechtenstein
Monaco
San Marino
Vatican City State

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What are the Contact Details for the Financial Ombudsman Service

The FOS contact details are as follows:-

The Financial Ombudsman Service
Exchange Tower
London
E14 9SR

Email: complaint.info@financial-ombudsman.org.uk

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What is the Complaints Procedure?

Acknowledgement: We will acknowledge all written complaints within 5 working days of receipt. One of our experienced Supervisors may call you to establish details of all the facts and circumstances regarding the complaint. Our written acknowledgment will include a copy of our Complaints Procedure and contact details for the member of staff who is dealing with the complaint.

Final Response: All complaints will be investigated thoroughly and impartially. We will send our final response within 8 weeks from receipt of the complaint. If you dispute our final response we will inform you of your right to refer your complaint to the Financial Ombudsman Service (FOS) within 6 months from the date of our final response.

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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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What can I charge to OUSBA and How?

Any Open University (OU) module, with the exception of Vocational Qualifications, Openings Courses and Research Degrees, that are over £76.00 in value can be charged through the OU online registration process or directly with the OU.
Vocational Qualifications, Openings Courses and Research Degrees have to be processed directly via the telephone with the OU.

Resits or submissions cannot be charged to an OUSBA account.

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What are your opening hours?

8:30am - 5:30pm Monday to Thursday.
8:30am - 5:00pm Friday.

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How does OUSBA work?

When you charge a module fee to OUSBA, OUSBA pays the OU on your behalf so that the OU can register you for your module. Then you can either:

Repay OUSBA at any time that suits you before your module begins without incurring any interest charges.
Or
Repay OUSBA in Monthly instalments. Please see 'How much are the monthly instalments?' for further details.

The interest rate is 5% (5.1% typical APR)

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How do I make a complaint?

OUSBA is regulated by the Financial Conduct Authority (FCA) and therefore has a different complaints procedure from the Open University. This means that OUSBA has to meet certain standards and if we fail to meet these standards then the FCA will take action. All complaints received by us are recorded and reported to the FCA annually.

Complaints can be made in writing, by letter fax or email, or by telephone.

We request that if a complaint is made in writing, by letter fax or email, the title of the complaint contains the text "Official Complaint".

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What is an OUSBA agreement?

The Open University Student Budget Account (OUSBA) is a convenient way to pay your module fees. You can register for a module many months in advance before its start date. OUSBA pays the OU on your behalf, and you can repay OUSBA either in a single sum or by monthly instalments. An OUSBA agreement is a legally binding credit agreement and by accepting this agreement you are bound by its terms and conditions.

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What Address do I use to send anything to OUSBA?

Our address is:
OUSBA Ltd
PO Box 508
Walton Hall
Milton Keynes
Bucks
MK7 6HX

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When will OUSBA be open over the Christmas Period?

Our opening times over the Christmas period are as follows:

22nd December 08.30am - 3.00pm
23rd December Closed
24th December Closed
25th December Closed
26th December Closed
27th December Closed
28th December Closed
29th December Closed
30th December Closed
31st December Closed
1st January Closed
2nd January 08.30am - 5.30pm

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