Is this a good enough reason for not taking an educational loan? I have recently been accepted for a degree program in Economics at LSE and am currently applying for Financial Aid. The application form expects that I have already applied for an educational loan to fund my education, but honestly, I have not. I intend to enter academia and so I think that in the near future (up until I do my Ph.D.) I won't be able to repay the loan. Will this be good enough for the committee evaluating my application?
These are subtleties that could easily get your application dismissed on formal grounds. So the best thing you can do is talk to the appropriate department in the LSE directly. They may tell you it is ok, or they may point you to other options for taking educational loans. But they know (make) the rules, and we don't.