Student Loans Company ready to handle changes in circumstances and late applications
A blog by Derek Ross, Executive Director of Operations
Over the coming weeks, we will distribute in the region of £2 billion in maintenance loans to students across the UK, and over £5 billion in tuition fee payments to their universities and colleges. Payments will be made to over one million students and we want to reassure everyone who has received their student finance assessment that they will receive their funds at the start of term, and that their tuition fee loan payments will be made on their behalf to their university or college.
The last few months have been challenging and uncertain for many and we are working hard to ensure that all payments are made on time. That’s why we want to offer every reassurance that if you have already been assessed for student finance you will receive it at the start of term. If you are now attending a different university, college or studying a different course you must notify us. Students who have already applied for finance but want to change their university, college or course can easily update their details on their online account at www.gov.uk/student-finance and we encourage them to do so as soon as possible.
For those who have not applied yet, it is important that you apply now. Some student finance applications can be processed in as little as two-days but some, depending on your circumstances can take up to six weeks or more. So, for anyone who hasn’t applied yet, it’s really important that you do so as soon as possible. The sooner you submit your application the sooner we can get your finance in place. It may be the case that some late applications can’t be fully processed before the start of term – but we will make sure you have some funding in place at the start of term wherever possible.
We recognised early on that this will undoubtedly be a challenging academic year for SLC and we have been working hard to prepare for an increase in deferrals, transfers or withdrawals. Customers should be aware that while we are operating as normal, the vast majority of SLC colleagues are working at home so at times it can take a little longer than usual to answer your call.
Our customer service teams are available to deal with queries via social media and information is available online, including a recent blog on Clearing the myths on student finance.
Students can get in touch with SLC by phone or via social media. For more information, visit: www.gov.uk/government/organisations/student-loans-company