Student loan paid into account?

Hi guys I want to know when my loan will be paid into my account, I enrol at my uni on the 25th September and my student finance letter says my first instalment will be paid on the 26th. Is this correct, because I need to know will I need to be borrowing money if it doesn't arrive on the date?

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Reply 1

thenextchemist

21

Original post by WuTangLan

Hi guys I want to know when my loan will be paid into my account, I enrol at my uni on the 25th September and my student finance letter says my first instalment will be paid on the 26th. Is this correct, because I need to know will I need to be borrowing money if it doesn't arrive on the date?

Posted from TSR Mobile

Student loan is given to your account, it's given to the university straight so you don't have to pay back your loan until you earn over £22,000 I believe.
What's given to you is maintenance loan I think.

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Reply 2

Tiger Rag

22

It usually takes 3 days for the money to be paid into your account; so it may not be paid until the 28th.

Reply 3

WuTangLan

OP

6

Yeah I'm on about the maintaince loan

Reply 4

WuTangLan

OP

6

Looks like I'll have to borrow money of family for a few days until the maintaince loan is paid.

Reply 5

Clur.M.

9

As long as your uni confirm that you have registered in person the funds will be released to your bank account, but most people have to take a bit of cash to uni with them when they move in to cover the gap.Tiger Rag is right it takes about 3 working days to clear.

Student loan paid into account?

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