SLC calls on students to apply for student financing now

The Student Loans Company (SLC) is urging new full-time students in England who plan to attend university and college this autumn to submit their student loan applications now.

By submitting their online application by Friday (May 17), students can ensure that their tuition fee and maintenance loan payments are confirmed before the start of the academic year, subject to confirmation of eligibility. Students should apply even if a place on a course has not been confirmed, or if they do not know their living arrangements, as this information can be changed in their online student finance account at any time before the start of their course.

Last academic year, SLC disbursed almost £22 billion in loans and grants and processed around 1.5 million applications for student finance. Applications can take up to six weeks to process and given the volume of processing it is critical that students get their applications submitted now to ensure there is time for approval.

Jackie Currie, Executive Director of Operations at SLC, said: “To access tuition fees and maintenance loans before the start of the school year, students should apply for their student loans now. Even if they don’t have a confirmed place on a course or haven’t decided which university they want to go to, it doesn’t matter at this stage. All of these details, including university, course and living arrangements, can all be updated in the student’s online account later in the year once this has been completed. I would encourage every student not to wait and apply today.”

Students can apply for tuition fee loans to cover costs and maintenance loans to help with living costs. There may be circumstances where a student can access some extra money, for example if they have additional needs, have children or are studying for a medical, social work or education course. Find out more about what’s available here – https://www.gov.uk/student-finance/extra-help

Important information for prospective students:

There are a number of resources available where students can find more information about how to apply and the financial support that may be available.

Keep important documents at hand:

  • Students should have their Social Security Number and passport information ready before beginning the application.
  • The application also requires bank details, including the 8-digit account number and the 6-digit sorting code. If the bank details change after the application, you can quickly and easily log into their online account and update it.

Follow the progress of the application:

  • Applications may take six to eight weeks to process and students do not need to contact SLC during this time. They can track the status of their application through their online accounts and be notified if there are any outstanding actions they need to take. Students can also make changes to their personal information in their online accounts.

If a student has studied before:

  • If a student has previously studied this may affect their eligibility, even if the previous course was self-funded. Students must submit their application early so that eligibility can be confirmed.
  • When students return to study after a break, they should use the online account they originally had, rather than creating a new account. The online search function can be used to locate these.

If estranged from parents:

  • If a student has no contact with their parents for more than a year, he or she may be able to register as an alienated student. Applications from alienated students are handled by a dedicated team of specially trained client advisors to ensure the process takes their circumstances into account. The evidentiary requirements are also different. Read this manual for more information.

Depending on the circumstances, students may be entitled to further support:

  • There may be circumstances where a student can access some extra money, for example if they have additional needs, have children or are studying for a medical, social work or education course. Find out more about what’s available here – https://www.gov.uk/student-finance/extra-help

Supporting a student’s application

  • Parents and partners (sponsors) supporting student applications are also reminded to provide their financial information as soon as they are asked to do so. Sponsors will receive an email once the student has submitted their portion of the application letting them know when and how to provide their financial information. Sponsors can also access this information on a dedicated page at www.gov.uk/support-child-or-partners-student-finance-application

Students can apply for student financing up to nine months after the start of the academic year. Returning students are also reminded to apply before their application deadline on June 21, 202.