Student Finance: TAKE YOUR MONEY BACK

So I had no idea what to name this but it had to be catchy :wink:

Anyway...

So I've got my student finance, I'm from London and going to a London university (Ravensbourne) and I said I'd be living in London on campus however if I decide to change my mind and live at home because I can't find anywhere to live what do I tell student finance? Or is there no going back? :redface:

and I won't know if I've found anywhere as I'll be looking in late June after my exams!

Thanks

Reply 1

Tiger Rag

22

You should be able to change it on your application form online?

Reply 2

kieran101090

11

Lol you can't change. I mean once you applied and if its approved then can't change anymore

Posted from TSR Mobile

Reply 3

Klix88

17

Original post by Hot_Potato

So I had no idea what to name this but it had to be catchy :wink:

Anyway...

So I've got my student finance, I'm from London and going to a London university (Ravensbourne) and I said I'd be living in London on campus however if I decide to change my mind and live at home because I can't find anywhere to live what do I tell student finance? Or is there no going back? :redface:

and I won't know if I've found anywhere as I'll be looking in late June after my exams!

Thanks

If you can't figure out how to do it online, you can just ring them up and tell them. However they'll recalculate your loan/grant as you get slightly less if you live at home.

Reply 4

Hot_Potato

OP

14

But will it still let me change this in July/August? Is that not too late

Reply 5

Tiger Rag

22

It will let you change that late, yes. In August, a lot of people will change because they're going to a different uni, etc.

For now, you're just saying "my plan is currently this" to student finance and they're saying "we're provisionally giving you this amount of money based on your plan". They accept that your plan may change.

Your grant amount won't change if you live at home. It's only the loan part that will change.

Reply 6

kieran101090

11

Original post by OU Student

It will let you change that late, yes. In August, a lot of people will change because they're going to a different uni, etc.

For now, you're just saying "my plan is currently this" to student finance and they're saying "we're provisionally giving you this amount of money based on your plan". They accept that your plan may change.

Your grant amount won't change if you live at home. It's only the loan part that will change.

Hang on, they will allow u to change uni but not loans. U have to decide earlier for loan

Reply 7

Tiger Rag

22

Original post by kieran101090

Hang on, they will allow u to change uni but not loans. U have to decide earlier for loan

No you don't. You can apply for the loan up to 9 months after your course starts. You have to apply by May 31st if you want finance by the time your course starts.

(edited 8 years ago)

Reply 8

kieran101090

11

Original post by OU Student

No you don't. You can apply for the loan up to 9 months after your course starts. You have to apply by May 31st if you want finance by the time your course starts.

Yea then we cant change loans after that date whuch means you have to decide if you want accommodation loan

Reply 9

Klix88

17

Original post by kieran101090

Yea then we cant change loans after that date whuch means you have to decide if you want accommodation loan

Yes, you can change loans after that date.

Most first years will be going into uni halls, which are well aware of Student Finance delays. If your SF is late because of a last minute change, uni halls are very unlikely to kick off about rent being late as long as you can show that SF are in the process of recalculating.

Thousands of students end up at different unis and in different accommodation, than they anticipated when they first applied. All bets are off come results day, when many people find their plans changing a matter of weeks before the start of uni. The SF system is set up to take account of this.

Reply 10

kieran101090

11

Yea but what if I applied accommodation loan but decided not to live in uni, in that case you wont be able to change or even if you change it will be too late as money would have been already processed to be paid into your account. Well this seem to be a common problem as lots of my uni mates have had this.

Reply 11

Klix88

17

Original post by kieran101090

Yea but what if I applied accommodation loan but decided not to live in uni, in that case you wont be able to change or even if you change it will be too late as money would have been already processed to be paid into your account. Well this seem to be a common problem as lots of my uni mates have had this.

You should be reassessed and if too much money has been paid to you after reassessment, then you'll be asked to repay the difference. The money is only released to your bank account after you enrol at the start of the academic year, so it would be unusual to change your mind about living away from home at that point, but the SF system can cope if you really want to do that.

There's no "accommodation loan". The Maintenance Loan is slightly higher if you live away from home during term time, but not by a large amount each year.

Reply 12

Hot_Potato

OP

14

Thank you!! :smile:

Student Finance: TAKE YOUR MONEY BACK

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