Having money is integral to your university experience. Without it, many wouldn’t be able to continue to higher education. If you’re worried if you have time to get your loans, we can tell you when the deadline for student finance is and what happens if you miss it.
Most students rely on their tuition loans to pay for university. As well as that, maintenance loans help ease money stress so you can try to keep your studies as your main priority. Without it, many would find going to university impossible. That’s why it’s so important to get your application into student finance as soon as possible.
However, that’s not always possible and there are a number of reasons which could have delayed you getting around to applying. However, there isn’t much time left to guarantee your loans in time for September.
When Is The Deadline For Student Finance?
For first-time applicants, the deadline for Student Finance England is May 19. Continuing students have a few more weeks, with their deadline not until June 23.
That means that for students going into their first year at university, you have until this Friday to get your applications in.
You should do this to ensure that there is enough time for your application to be processed, approved and for any problems to be addressed. The process itself should only take 30 minutes and we’ve already told you how to apply for student finance, so you’ll have everything you need.
There’s no need to wait until you receive your A-level results as that would be much too late. The only thing that would have to be confirmed at that point would be which university you’ll be attending. Typically, this is sorted once you enrol at the beginning of the term in September.
Plus, you can always cancel your application if you decide later down the line that you won’t be heading to university in September. However, it’s better to get it in and on time just to make sure.
What Happens If You Miss The Student Finance Deadline
Don’t worry, you can still apply and receive your tuition and maintenance loan. In fact, you can still apply up to nine months after your academic year has started!
What it does mean is that you risk not receiving your money on time. The first instalment of your student loan will be due to arrive in September, so the longer you leave it, the longer it will take to get to you.
Therefore, you should apply as soon as possible, even if you have missed the deadline. That’s the same for first-year and continuing students.
You’ll want to prepare for the incoming fees if your money is due late. You can do this by saving an emergency fund between now and then. You can even go to your university for assistance. Sometimes, they can delay when the tuition fee comes out of your account or provide you with a bridging loan if you’re registered.
Typically these are interest-free, but can only be provided once per academic year.
Often, student bank accounts come with an interest-free overdraft too, so this is also an option if you’re struggling.
The main takeaway is that it’s not the end of your university experience if you miss the student finance deadline. But, you need to apply for it as soon as you can.
