It’s time for prospective undergraduates to sort out their student loans ahead of the 2023/2024 academic year. Though it may seem daunting, we’ve got everything you need to know about applying for Student Finance England to help make it as easy as possible.
If university students are known for one thing, it’s not having a lot of money. Most need to apply for a student loan to help them out during their studies. Though the procedure itself isn’t too complicated, it can be daunting if you’re doing it for the first time, plus it’s a bit time-consuming. To try and make it as simple as possible, we’ve got all you need to know so you can breeze through.
Before You Start
Student finance is now open for those who are from England. It doesn’t matter if you are studying elsewhere in the UK, you will still need to go through the country you are from.
During the process, you’ll be applying for your Tuition Fee loan, which covers the cost of the course itself. You’ll also be applying for a maintenance loan, which is based on your parent’s income/ home living arrangements.
However, before you start, make sure you’ve got your National Insurance number to hand, as well as addresses, and bank details.
It’s worth knowing that you don’t need a confirmed offer to apply. In fact, to ensure everything is done in enough time you’ll to have submitted your application before May 19.
To get started, create an account.
Applying For Student Finance
Your part in the application shouldn’t take longer than half an hour.
Questions will be about where you will be studying (don’t worry, this can easily be changed later on) and your details. Once you’ve entered information about your chosen course, you’ll be given the estimated Tuition Fee amount, which will be about £9,000.
After that, you’ll answer questions about your family’s income. If you normally live with your parents, then you’ll need to check with them how much they earn. They will check this themselves and confirm the amount by providing evidence. Make sure you’ve typed their emails correctly as this is how Student Finance England will contact them.
If you don’t have contact with your parents, you may be able to apply as an estranged student if you are under 25. This does make the process a little more complicated, but your application will be handled by someone specially trained.
Those who have already moved out of their parents’ home and live with a partner, or on their own (mature students) will still need to enter the household income. It’s possible you may be entitled to more, but this will be explained on a case-by-case basis.
A prospective student with additional needs or who have a dependant will also be entitled to more funding. Take your time with the questions and answer them honestly and as accurately as you can. It’s the only way to ensure you get what you’re entitled to. If it takes you longer than half an hour, then so be it!
Tracking Your Student Finance Application
Typically, the hardest part of applying for student finance is the wait. At any point, you can check the status of your application, however, you will be emailed if there are any updates, or if more information is required.
If at any point, you need to change your details, then this is easily done. Sign in and head to your applications, and then click ‘manage your student finance,’ and then ‘change your application’ twice. Here, you’ll be able to change and personal details and your university details. It’s important to make amendments as quickly as possible as changes can take 6 weeks to process.
More than likely, you’ll be waiting between 4-8 weeks to find out what money you’re entitled to. To start getting your maintenance loan, ensure that you register with your course/university at the start of the year. You will be prompted to do this, but it’s not something you want to forget.
If anything does look right throughout your application, you can contact Student Finance England. The only thing left to do now is apply!