Ensure you meet the eligibility requirements. Check your credit file with Experian, and ensure you are on the electoral role at your current address.
Student Finance with Omni Capital
School of Electronic Music students are able to get an instant online decision to fund training through our partner Omni Capital. Students can apply for the full amount of course fees and choose an affordable monthly repayment that suits their budget. You can choose any course start date to apply for finance – just note your monthly payments will begin 1 month after your finance acceptance.
Finance is available on all courses over £250, with the option to spread payments between 6 – 48 months. Student finance is 0% for plans up to 12 months, and 9.9% for plans over this. Other benefits of student finance are that the baseline course price is based on our ‘advanced’ cheaper price. You also have the right under s94 of the Consumer Credit Act 1974 to repay your loan early in full or in part. Read the FAQ for more information.
Student Finance Calculator
You can use the finance calculator to try the potential options that suit your budget.
Once you have decided on the course you are applying for, make a note of the course fees.
There is a minimum of 5% non-refundable deposit (downpayment for the course fees) required from the student at the point of successful application. The calculator will tell you minimum deposit required on the right hand side.
EG: Introduction To Music Production Course : £2700 over 36 months : Deposit £128 : Monthly instalments of £77.55
EG: Complete Music Production & Audio Engineering Course : £6420 over 48 months : Deposit £321 : Monthly instalments of £153.15
Who are Omni Capital?
SEM have spent a long time looking into the best finance options for our students, and we are confident that Omni Capital are the best for student’s requirements. Omni Capital have a credit score system that delivers high acceptance rates when compared to the high street banks and mainstream financial institutions.
Omni Capital are authorised and regulated by the Financial Conduct Authority (FCA). You can find them on the the Financial Services Register under number 649286 (www.fca.org.uk/register).
Omni Capital Retail Finance Ltd.s Data Protection Register number is Z3048845.
For further information:
Contact: 0333 240 8318
Am I eligible for student finance?
Omni Capital has developed a credit score system that delivers high acceptance rates when compared to the high street banks and mainstream financial institutions.
To be eligible for student finance through Omni Capital you must be:
- You must be 18 or over, and have been living in the UK for at least 3 years before your course starts.
- You must have a permanent UK resident and able to supply a UK address history for the last 3 years.
- Your course start date that you are applying for must be starting within the next 3 months (or less).
- Finally, check the ‘Reasons for potential problems with your finance application‘.
If you meet this criteria, once you have submitted your online application, your details will be assessed and you will quickly receive an approval or refusal of finance. Occasionally, applications will be held for manual assessment, but should this occur you will be notified by email of the decision within a few hours.
To give yourself the best chance of approval, always ensure that the information you give on the application is accurate and honest. Before applying for your finance, we strongly advise ensuring you are on the electoral role at your current address, and that you have pre-checked the information on your credit score held by experian.co.uk.
All loans are subject to status.
Reasons for potential problems on your finance application
You are not on the electoral register
Companies use the electoral register to confirm that customers are really who they say they are, if you are not registered make sure that you do it before applying for a loan. If you are registered then make sure your details are up to date.
You have no history of borrowing
Though this removes the likelihood of a bad credit score dragging you down, a zero credit score can be bad too. This is because lenders cannot be sure that you will pay them back regularly or on time as a credit check is not going to prove or disprove it. Speak with a course advisor who will be happy to advise you on addressing this.
There’s an Error on Your Credit Report
Credit reporting errors are more common than you think and they can easily prevent you from getting a personal loan. According to a study from the Federal Trade Commission, one in four consumers has found at least one error in their credit file. Speak with Experian as they may be able to rectify errors.
You have too much debt
For obvious reasons, high value debts are another turn-off to lenders. To improve your chances of being successful in your loan applications you should close any unused credit card accounts and do everything in your power to reduce and clear your debts.
If you are unsure and would like some advice please speak with a course advisor who will be happy to help you. Contact us on firstname.lastname@example.org or via +44(0)161 833 4722 between Monday – Friday 10am – 6pm GMT.
What if I am not eligible for student finance?
It is common, for example, that students from the European Union may not have lived in the UK for 3 years and therefore not be eligible for student finance.
Do not worry! If you do not meet the criteria for student finance but would still like to study with us, please contact us on email@example.com or via +44(0)161 833 4722 between Monday – Friday 10am – 6pm GMT. A course advisor will be happy to advise you on other routes to studying with us.
Will Omni Capital check my credit file?
Omni Capital are a responsible lender, and would never like to see our students struggle financially. Therefore they will check your credit file to help understand and to see if they can offer you student finance.
Omni Capital refer to credit information held on you with Experian. We strongly advise checking your own credit score before applying to ensure all the details on it are correct.
Can I Still Get Finance If I’ve Previously Been Declared Bankrupt / Had an IVA?
Whilst Omni Capital understand that sometimes these things happen and are out of your control, unfortunately Omni Capital Retail Finance Ltd. do not lend to customers who have previously been made bankrupt or have been in an IVA.
Please contact the SEM Office on firstname.lastname@example.org or via +44(0)161 833 4722 between Monday – Friday 10am – 6pm GMT. A course advisor will be happy to advise you on other routes to studying with us.
What is credit scoring?
Credit scoring is a system that most reputable lenders use, when deciding whether or not to give you finance. Omni Capital Retail Finance Ltd. use the information that you provide on your application; such as your age, job title and any existing financial commitments you may have.
They also make use of credit reference agencies to see your history with other lenders. These all go together to make your credit score.
What if I have a bad credit history?
Omni Capital Retail Finance Ltd. assess each request on a case by case basis. If you have had any financial problems in the past, let Omni Capital know during the application process.
What if I am declined for finance?
Don’t worry – we still want you to study at the School of Electronic Music!
Although this finance route may have been declined, there are other options and routes for you to fund your training with us.
Please contact the SEM office on +44 (0)161 833 4722 or via email@example.com. Our office hours are Monday – Friday 10am – 6pm GMT.
We will look at the next steps to ensure you can get onto the training and start date of your choice.
Further Student Finance FAQ
Contact Details for SEM
firstname.lastname@example.org or +44(0)161 833 4722. Our SEM Office hours are Monday – Friday 10am – 6pm GMT.
Contact Details for Omni Capital Retail Finance Ltd.
Omni Capital Retail Finance Ltd.s Data Protection Register number is Z3048845. For further information:
Contact: 0333 240 8318
How Do I Make Repayments?
Your monthly repayments will be taken by direct debit every month. These payments will generally begin one month after you receive confirmation details (usually when you book the course).
Can I Make an Early Settlement?
Yes. You have the right under s94 of the Consumer Credit Act 1974 to repay your loan early in full or in part. Simply write to Omni Capital Retail Finance Ltd., or call them, and they will let you know how much you need to repay.
All settlement figures and the date which to pay by are all calculated in line with Consumer Credit Act.
What Should I Do If I Struggle To Make Payments?
First of all, don’t worry. Call Omni Capital Retail Finance Ltd., immediately. Omni Capital have been operating for many years now and understand that people, through no fault of their own, can have trouble repaying a loan. Omni Capital will do their best to help, but will need to speak to you before the payment is due.
If you need to take a small ‘payment holiday’, let Omni Capital know and they may be able to help, don’t leave it too late.
What If I Miss a Payment?
If you should miss a payment, then a member of the Omni Capital Retail Finance Ltd. will contact you to arrange a suitable repayment plan.
Can I Trust Omni Capital Retail Finance Ltd.?
SEM have spent a long time looking into the best finance options for our students, and we are confident that Omni Capital are the best for student’s requirements. They are authorised and regulated by the Financial Conduct Authority (FCA).
You can find them on the the Financial Services Register under number 649286 (www.fca.org.uk/register).
Omni Capital Retail Finance Ltd.s Data Protection Register number is Z3048845.
Is It Safe To Apply Online?
Yes, Omni Capital Retail Finance Ltd. uses proven online security techniques that ensure your personal information is secretly encrypted before transmission to make sure that it cannot be viewed by any unauthorised parties.
Do they Require ID?
For security measures they may require a proof of ID after your application has been approved.
What is an Interest Rate?
Basically, interest rate is the charge for getting credit, it is usually expressed as an annually percentage (see APR).
What is APR ?
APR, or Annual Percentage Rate, is the amount of interest you’ll pay annually averaged over the full course of the loan.
All of our courses include everything you need in order to successfully complete the course:
Tutor services – support and grading of examinations
Training manuals – where applicable
Software – where applicable
1 sitting per exam – where applicable
All you need is good pair of headphones. Please contact the school if you require any advice.
How Can I Make A Complaint?
If you have any cause for concern, please contact Omni Capital in the first instance, they pride themselves on customer care and will strive to make things better for you if they can.
Consumer credit service provided by Omni Capital Retail Finance. Omni Capital Retail Finance is authorised and regulated by the Financial Conduct Authority, licensed by the Office of Fair Trading and a member of the Finance & Leasing Association. For more information please visit www.omnicapitalretailfinance.co.uk or contact 0333 240 8318.
Professional & Career Development Loans
This scheme is ending nationwide on January 25th 2019. If you are unemployed and looking to get into a career in the music industry, then we strongly advise getting your application in before this date.
A Professional and Career Development Loan (PCDL) is a bank loan to pay for courses and training that help with your career or help get you into work. You may be able to borrow between £300 and £10,000. Loans are usually offered at a reduced interest rate and the government pays interest while you’re studying. You start repaying the loan (plus interest at a reduced rate) 1 month after leaving your course.
The PCDL can cover up to 80% of your course fees or all of the fees if you are unemployed. along with other course costs and living expenses (unless you are working for more than 30 hours per week). You must not be getting any other grants or state benefits, which cover these costs. You can also use the loan to supplement other forms of support such as grants or bursaries.
Our learning provider registration number is 6421
To apply you must:
- be 18 or over
- be a British citizen
- have been living in the UK for at least 3 years before your course starts
- plan to work in the UK, European Union (EU) or European Economic Area (EEA) after the course
- your course must start within 2 months or less
For more information, please visit the government webpage.
Notify SEM at the earliest opportunity if you apply for a PCDL, so we can reserve you a space on your chosen course.
There are several grant bodies that may be able to provide you with funding or a bursary to study with us. Turn2Us.org.uk are a charitable service that helps people access the money available to them through welfare benefits, grants, and other help.
Grants can be awarded for different personal circumstances – if you have a social worker they will be best placed to understand what funding may be available for you.
The Princes Trust are also worth approaching if you are between 14 and 25 and are either long-term unemployed, homeless, or a single parent. The Princes Trust award over 5,000 people £500 towards tuition every year, call 0800 842 842 for more details.
The MOD’s Enhanced Learning Credits Scheme (ELC) promotes lifelong learning amongst members of the Armed Forces. The scheme provides financial support in the form of a single up-front payment in each of a maximum of three separate financial years. ELCAS funding is available for our HNC in Music Production.
Thanks to all the staff for being such a great help when i was at school of electronic music. I really appreciated all the work and connections you helped me with, I’m really grateful and now how a wealth of knowledge.
…I’ve had a look at a few of the courses on the website and have had a tour of the studios by Ben, I was super impressed and signed up to the 12 month music production course – 3 months in and I’m loving it!