University students often need loans to pay for their studies, however, you need to apply for it each year, with the final date having passed. Here’s what to do if you’ve missed the SFE deadline 2023 and you’re a returning student.
Very few students can self-fund their time at university, needing loans to pay for the fee and maintenance loans. Though applying for student finance is rarely complicated, you do have to do it within a certain timeframe.
If things have got on top of you, or you didn’t realise there was a deadline, then it’s not the end of the world.
When Is The Deadline For 2023?
The SFE deadline for returning students was Friday, June 23, so the date has now passed. This was later than first-time students, who only had until May 19.
These dates are put into place so that there is plenty of time before the academic year to process your loan and all the paperwork, as well as correct anything that needs changing.
Typically, your information doesn’t change massively if you’re a continuing student and that’s why the deadline is later. However, your parent’s financial information might have changed, or other individual circumstances.
University is expensive, with each term costing around £3,000, so it’s pretty important to ensure your loan is secure before September so you don’t have to pay for anything yourself.
What To Do If You Missed The SFE Deadline For Returning Students
If you haven’t yet applied, then unfortunately you have missed the deadline. Don’t fret — that doesn’t mean you won’t get any funding next year.
The most important thing is to apply as soon as possible. It will only take you 30 minutes if you’re prepared with your passport details, your National Insurance and bank details.
Have your parents fill in their financial information as soon as they get the email to help speed the process along.
After that, it’s just a case of waiting. You can check the status of your application by logging into your account.
Depending on how much you missed the SFE deadline 2023 for returning students, you may get the full amount in September. However, you may also get less than expected for the first term. This is completely normal if you missed the deadline and is just initial funding to see you through. Don’t contact SFE, as they’ll contact you once your full loan has been sorted.
Your loan will then be adjusted once your household income has been taken into account. You’ll receive a letter about the adjusted amount and get the extra money as soon as possible.
Once SFE has your household income, assessing how much you’ll get takes about 6-8 weeks. That’s why applying as soon as possible is important.
Your second and third payments will also be adjusted to reflect your new amount. So, you’ll still receive the amount you’re eligible for, just in more chunks.
If you’re a returning student, you won’t need to re-register at your university again, unless you’ve changed where you’re studying.
So, missing the deadline isn’t a big drama and you will get all the funding you’re entitled to. In fact, the process is still quite similar to if you had applied before June 23!