Supporting students with first payments
The first in a series of blogs as the Student Loans Company starts to make Maintenance Loan payments to students.
This week marks the start of a new academic year for many students. For most, it will undoubtedly not be the start, or return, to education that they expected. The coronavirus pandemic has created a great many challenges but, throughout all the uncertainty, we have continued to do everything we can to ensure that as many students as possible receive their Maintenance Loan payments at the start of term.
We estimate that this month we will make payments to approximately 1.1 million students, and as of today 27,500 students have received their payments. At present, we anticipate that 21 September will be the biggest single payment date as most new and existing students return to their university or college at this time.
Students who applied before the deadline two months ago, and whose applications have been approved, will receive their funding on their start date. If students want to check the status of their payment, they should access their online account and it is important to remember that payments can only be made after the student has registered their attendance. Some applications can be processed in as little as two-days but some, depending on individual circumstances, can take up to six weeks or more.
For those who applied after the deadline – and we appreciate there are a variety of reasons for this – we are working hard to ensure that their basic funding package is in place when their studies begin. If we request evidence to support an application, we ask that this is submitted quickly, and where possible through our online service. In addition, if there are any last minute changes to course, university or college, we urge students to make these via their online account.
To provide additional support, Student Finance England has produced a short film explaining what each of the payment statuses mean.
We are also hosting a Facebook Live session on 15 September at 13:00 where our team of student finance experts will be available to help with any payment related queries. And remember, the team are also available to help with queries via social media so follow Student Finance England’s Facebook and Twitter channels.
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