There’s Still Time To Apply For Student Finance!

There’s always something that should happen in an ‘ideal world’ yet for one reason or another just doesn’t quite happen. In an ideal world you would have completed and sent in your application for Student Finance by now but it’s not the end of the world if not. Far from it.

Many people apply after the deadline each year and get sorted but here’s a few things you should know.

What happens if I still need to apply?

As normal, you will apply for student finance with the Student Loans Company calculating how much you can borrow based on your household income. Your parent(s) or partner will be asked to provide them with a breakdown of their income which can obviously take a little time to process.

If you’ve left it really late and apply less than four weeks before the course starts, the Student Loans Company will make sure you have money for the start of your course by initially working out how much you can have without calculating your household income until they receive that information. All good.

How will this affect me financially?

If you apply less than four weeks before your course starts or the household income process hasn’t been completed yet you’ll probably find your loan amount is a little less than you thought. As soon as the evidence has been processed, your loan will be updated and you’ll be backdated the money you’re owed.

What do the loans cover?

The majority of students will need to cover tuition fees and the cost of living whilst studying. You can apply for both of those.

Tuition Fees cover the yearly fee we charge to study our course. It’ll come straight to us, so don’t worry about that one – it won’t be affected by a late application either.

Your living costs, or maintenance loan, will be affected by late application as explained above. It’ll be paid directly to you in three instalments throughout the year and is yours to spend (but pay back in the end!).

Living with parents

 

 

Up to £7,097
Studying outside London and not living with parents Up to £8,430
Living and studying abroad for at least one academic term Up to £9,654

Do I need to reapply each year?

You do, if you want that loan! You just need to fill out a quick form and then you’re away – but we’ll help with that closer the time.

How do I apply then?

Time is of the essence so we’ll keep this as simple as possible:

  1. Register an account by clicking here.
  2. Complete and submit your application
  • To save time, having these documents/details on you will speed up your application.
    • Your valid UK passport, if you have one;
    • Your university and course details;
    • Your bank account details;
    • Your National Insurance number.
  1. Send the evidence in
  2. Print, sign and return the declaration form – if you don’t, you’ll not get paid!

If you would like to access support with your Student Finance application, please give us a ring on 0114 260 2600 and ask to speak to Student Support. Alternatively, you can contact our Student Support Team by clicking here

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: