Frequently Asked Questions

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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You will not be sent monthly statements as per the terms of the OUSBA agreement. However, we will send out confirmation once your account has been settled or on an annual basis, whichever comes first.

You can also view the balance and any payments onto your account by logging into the OUSBA website and selecting Your Statements

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You can settle your agreement at any time.

Please contact the office for a Full Settlement Quotation.

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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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Every course\module you charge to OUSBA has its own OUSBA agreement. The agreement number can be found on the top right of the agreement you have completed.
Full details can be found under 'Your Account Summary'.

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If you are an overseas student, you will not be able to make payments by Direct Debit unless you have a UK bank account. Therefore, by signing the agreement you will give us consent to collect payments automatically from your credit card. This is known as a "Continuous Payment Authority" ("CPA") and is where you provide us with authority to take payments by credit card using Worldpay in the manner set out in the agreement. Payment by CPA is not available to students who are resident in the United Kingdom.

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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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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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All additional costs are detailed in the Terms and Conditions.

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Log on to your OUSBA Account, select the Agreement Summary tab and details of your balance can be found there.

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The first payment date will always be either one month after the module start date or one month after the application has been accepted if this is after the course start date.

If this date is not convenient then this can be changed.

Please contact the OUSBA office.

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We can accept payment from another person as long as they know the amount and the Personal Identification number is included.

We cannot discuss the agreement or the amounts due with another person without your written permission.

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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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OUSBA will only provide a fixed term loan to pay for your module fee.

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Each course\module is a separate loan and so a new agreement is required for each one.

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If you pay using a CPA you will be required to consent to the use of your card details in order to make monthly payments. You will receive an email requesting this consent.

- The date that payments are to be taken under a CPA are set out in the credit agreement in the panel entitled "FINANCIAL PARTICULARS";
- If you encounter financial difficulties, as a concession and without in any way modifying our rights under the agreement, we may agree to change the payment date but we will not do so for any other reason;
- You give us authority to take all of the payments due under the agreement using the CPA, including any fees and charges payable under the agreement;
- You can cancel the CPA at any time by telephoning us or by e-mailing us. If you do so, you will be required to make further payments manually by an alternative card or by money transfer;
- Card payments made under this CPA are not covered by the Direct Debit Guarantee;
- You may use another card or money transfer as an alternative method of making payments;
- We will not attempt to take less than the payment or the amount agreed with you from time to time under the CPA, unless the total sum owing under the agreement is less than the relevant payment at the date such payment is taken;
- If there are insufficient funds in your account to cover the payment at the date it is to be taken or if we are unable to take a payment for any other reason, we will not make any further attempts to take that month's payment. We will contact you and seek that month's payment by an alternative payment method in accordance with the CPA. We will however continue to seek all future monthly payments under the CPA on the basis set out in the agreement;
- We will inform you by letter of any failure to obtain payment under the CPA within 5 days;
- If we are unable to take any payment on its due date, you may have to pay charges and interest in accordance with the terms and conditions of the agreement.

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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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We may check any loan application received.

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