2022 is coming to a close and buying all those Christmas presents is taking a big chunk out of your student loan. If you’re eagerly awaiting your student finance payments for 2023, then you definitely aren’t alone. But when are the payments for next year?
It’s always tough when you’re nearing the end of your payment period for Student Finance. This is particularly so with your first payment as you need to get yourself sorted for the academic year and also think about Christmas presents. You won’t be the only one struggling if you’re starting to run out of money.
Luckily, you aren’t too far away from your next instalment.
Student Finance Payments 2023
The exact date of your payments will depend on your university and course. If you want to check the specific date then head to either Student Finance England, Wales, or the SAAS if you’re in Scotland. Just look at your application and all the dates should be there.
In England and Wales, the three payments are spread pretty evenly throughout your academic year so that you’re never too far away from a payment. That being said, if you go a little too hard at freshers’ events or book yourself a nice holiday for the end of the year, you might be left twiddling your thumbs until more money comes through. There is a reason students don’t get it all at once, after all.
More generally, the next two payments for the year will be in January and April. Typically, the April payment is larger and will help see you through the summer months.
If you then reapply for student finance for the academic year 23/24, then you will get your first instalment in September/October — depending on when you enrol/start your course.
A few days before you get the money, the student finance system you applied with should text you to remind you about it. You’ll be told the exact date and normally given a number if things don’t like right.
For Scottish students, you should be getting your student finance on a monthly basis.
What About Tuition Fees?
It’s very unlikely that you will have any interaction with your tuition fees. As standard, your tuition fee is paid directly to the university from student finance when you receive your maintenance loan.
The payment dates for these can also be checked via your student finance login. Your university will contact you if they receive any issues. But as long as you apply and enrol in time, then you’re unlikely to have any problems.
Your tuition fees will be split in 3 like your maintenance loan, however, the university receives 25 per cent in the first and second instalments, and then the remaining 50 per cent in April.
Even if you feel certain about your student finance, it’s best to keep regularly checking. If something goes wrong, you can sort it out quickly without it having too detrimental an effect.