Student Loans Company Urges Students To Get Finances In Shape For 2018

The Company has some tips for new and returning students to make the application process as smooth as possible.

Derek Ross, Executive Director of Operations, at SLC said:

“We are expecting to process almost two million applications next year, so it makes sense to get your application in early.

"Even if you don’t have a confirmed place on a course you can still apply for funding when the service opens early next year.

"Parents and partners can help by pulling together key information including their income details and National Insurance Numbers which may be needed to support the application process."

SLC's Top Tips for getting your finances in shape for 2018:

New Students

• Make an early start on finding out what funding could be available to you at gov.uk/studentfinance, studentfinancewales.co.uk, www.studentfinanceni.co.uk and www.saas.gov.uk Extra help may be available to you if you have dependants or a disability.

• Remember, you may be eligible for Maintenance Loan to help you meet living costs, such as rent and bills. The amount of the Maintenance Loan is dependent on your household income, where you live and where you study. 

• Before you complete the online application form make sure you have your National Insurance Number and Passport details to hand as you will be asked for this information as part of the application process. 

• Keep a note of the email address you use when applying for student finance and make sure you choose a password that you’ll remember. The most common calls to the Student Loans Company are from students who have forgotten their password. 

Returning Students

• If you’re continuing your course this year but your personal details or family circumstances have changed since last year, make sure you gather the details in advance of submitting your application. 

• If your contact details or bank account details change let Student Finance England or Student Finance Wales know right away. The fastest way to do this is through your online account. 

• Be aware of fraudsters trying to steal your student finance by sending phishing emails claiming to be from the Student Loans Company or Student Finance England/Wales. 

• Send any suspicious student finance emails to phishing@slc.co.uk to highlight them to the Student Loans Company, who can close them down to protect other students. 

• Never post your bank details anywhere online or disclose them in an email or text. 

Parents and Partners

• The Student Loans Company will automatically verify things like income details directly with HMRC. Sometimes however, evidence from the sponsor of a student finance application is required. This should be submitted as soon as possible so it’s a good idea have your own national insurance number and income details to hand.

• If you’re applying for funding based on household income, you and your sponsor (normally parent or partner) must provide the correct financial and personal information. Your funding can be removed if you are found to have provided incorrect details.