Student Finance 2016 / 17 FAQ

HELPPP
Ok so for my firm choice i would not have to move away which means i wouldnt need maintenance loan but my insurance choice would require me to move away, that would mean i would need maintenance loan plus extra main.. loan. Does that mean i have to apply for all 3? Even though i may not need it if i end up with my firm? And would that also mean for the first year i have to pay it back?
Again even if its not needed? Is there a chance i can cancel it after results day?

If there's a chance you'll be moving away and will need a maintenance loan then apply for the maintenance loan this year. You can easily pay the money straight back to SLC if you don't need it (http://www.slc.co.uk/students-and-customers/loan-repayment/make-a-repayment.aspx#oneoff ) or you could put it in the bank as an emergency fund (the extra loan on top of your tuition fees will just mean you repay your loan for slightly longer). Or you could phone SFE in August (or use your online account https://www.thestudentroom.co.uk/content.php?r=5955-If-your-circumstances-change-2017-18 ) and cancel the maintenance loan (but not the tuition loan) - although I'd suggest keeping it as a rainy day fund personally.

If you take a loan out but don't need it then you don't HAVE to repay it until after you graduate and earn over £21k (same as the loans for your tuition fees).

(edited 7 years ago)

Thank you so much!

Hi, i have a few questions before sending off my form.

Firstly, i've not mentioned my insurance university anywhere on the form - if i don't get into my firm what action should i take because my declaration form states the tuition fee is paid to my firm.

Secondly i haven't provided any bank details but have given my national insurance number as an alternative - is this sufficient? I.e. it lets me confirm my application and send it off but where will the payments be made? Will i need to open an account in the future?

Thank you.

Posted from TSR Mobile

Reply 243

AR_95

21

Original post by Zxphyrs

Hi, i have a few questions before sending off my form.

Firstly, i've not mentioned my insurance university anywhere on the form - if i don't get into my firm what action should i take because my declaration form states the tuition fee is paid to my firm.

Secondly i haven't provided any bank details but have given my national insurance number as an alternative - is this sufficient? I.e. it lets me confirm my application and send it off but where will the payments be made? Will i need to open an account in the future?

Thank you.

Posted from TSR Mobile

On results day, if you've gotten into your insurance instead, go on the website and change the uni you've said you're attending, it should only take a day or two to process, and I'm sure they're expecting thousands of other students to do the same anyway.

You'll need to open a bank account for your loan to come in, I'd recommend opening a student account as soon as you've got a place secured at either your firm or insurance.

Reply 244

Zxphyrs

16

Original post by AR_95

On results day, if you've gotten into your insurance instead, go on the website and change the uni you've said you're attending, it should only take a day or two to process, and I'm sure they're expecting thousands of other students to do the same anyway.

You'll need to open a bank account for your loan to come in, I'd recommend opening a student account as soon as you've got a place secured at either your firm or insurance.

Thank you very much :smile:

Posted from TSR Mobile

Reply 245

KBSc

11

Hi, I'm going into my second year of university.

I've printed off the declaration form to send to SFE, the one you have to sign.

Do I just copy their address off the letter (I.E. SFE, PO Box 306, Darlinton, DL1 9HJ) then attach a stamp?

I know this sounds stupid but I don't want to do it wrong.

Reply 246

GarlicBread01

11

When is the deadline for parents to fill out the support application?

(edited 6 years ago)

Reply 247

PQ

Clearing and Applications Advisor

21

Original post by GarlicBread01

When is the deadline for parents to fill out the support application?

For new students 26 May to be guaranteed the income assessment is done in time for the start of the course.

Miss the deadline and you might have to get be on the minimum loan for your first term.

Reply 248

username2858058

17

Original post by PQ

For new students 26 May to be guaranteed the income assessment is done in time for the start of the course.

Miss the deadline and you might have to get be on the minimum loan for your first term.