If you want to go to university but are not sure about what help you may be able to get, all the information out there can be really overwhelming. To help make it easier for you, we have simplify the whole process and put together a one-stop shop for all things Student Finance to get you ready for the Student Finance deadline on 31st May.
Student Finance is an organisation that offers student loans. For most students, you will need to apply to Student Finance to receive your loans. There are a few exceptions (such as being a student from the EU, having studied previously etc.), but usually, you will apply online. You can do this by creating an online account and will be given a unique Customer Reference Number. This number is important because you will need it whenever you contact Student Finance and when your parents/carers support your application.
Whether you qualify for Student Finance depends on these key things:
You may also be eligible if you have Refugee status.
The application doesn’t take long to complete. You will need your National Insurance Number, Passport number and bank account details.
Student Finance will ask information about the uni you want to go to, the course you want to study and how much tuition fee you want to apply for.
You also need to say whether you will be living at home or on the uni campus and how long your course will be.
At the end of the application, give your parent/carers details so that they can complete the household income part of your application. This will help Student Finance work out how much Maintenance Loan to give you.
Once you submit your completed form with all the information, Student Finance will send you an award letter which will include all the details you have provided, including the amount of Tuition Fee and Maintenance Loan you will get. Make sure to sign the declaration and send this back to Student Finance so they can pay your support at the start of your course.
The application for Student Finance normally opens in late February/early March. From February check the Student Finance website for details of when the application process opens and remind your parents so they can prepare the income information.
The deadline for 2017 is the 31st May and although applying after this date doesn’t mean you won’t get your money, it is harder to guarantee that you will receive it on time as soon as you start uni.
You can update or change details on your application even after you submit it, so it’s best to apply as soon as possible.
|Full-time student||Loan fo the 2016 to 2017 academic year||Loan for the 2017 to 2018 academic year|
|Living at home||Up to £6,904||Up to £7,097|
|Living away from home, outside London||Up to £8,200||Up to £8,430|
|Living away from home, in London||Up to £10,702||Up to £11,002|
|You spend a year of a UK course studying abroad||Up to £9,391||Up to £9,654|
You have to re-apply to Student Finance every year that you are studying, though after the first year, you only need to confirm that there are no changes and return the signed notification.
Sending this back is important because this is what releases your Maintenance Loan to you and the Tuition Fee to your uni.
Check your online account regularly for any correspondence alerts from Student Finance.