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When will my student finance be paid?

To keep everything short I’ve been on the lower (wrong) amount of maintenance loan for a while now. After speaking with student finance on the phone it’s all been sorted and I’ve been approved and processed for the higher amount they’ve told me I’m due a backdated payment of the money I’ve missed for the high amount of loan. My request for this money was accepted yesterday...how long after acceptance should I expect to receive the backdated money into my bank? I’ve searched google and found it’s a hard answer to find as anything relating to student finance payments are 99% regarding the normal payment methods and not backdated money. Anyone been in this situation before?
Original post by Ahb3
To keep everything short I’ve been on the lower (wrong) amount of maintenance loan for a while now. After speaking with student finance on the phone it’s all been sorted and I’ve been approved and processed for the higher amount they’ve told me I’m due a backdated payment of the money I’ve missed for the high amount of loan. My request for this money was accepted yesterday...how long after acceptance should I expect to receive the backdated money into my bank? I’ve searched google and found it’s a hard answer to find as anything relating to student finance payments are 99% regarding the normal payment methods and not backdated money. Anyone been in this situation before?


Hi Ahb3,

When you've been awarded a higher amount and are due a backdated payment, the payment is normally in your bank account account around 3-5 working days after you see the new amount has been approved on your online account. If you can see the new figure on your account, or you can see that a letter with the new entitlement has been sent,you should expect the payment in around 3-5 working days.

I hope this information helps.

Kind regards,

John.
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Ahb3
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Original post by John B SFE
Hi Ahb3,

When you've been awarded a higher amount and are due a backdated payment, the payment is normally in your bank account account around 3-5 working days after you see the new amount has been approved on your online account. If you can see the new figure on your account, or you can see that a letter with the new entitlement has been sent,you should expect the payment in around 3-5 working days.

I hope this information helps.

Kind regards,

John.


That’s fab! Hopefully not long to wait then. Thankyou :smile:
Original post by Ahb3
That’s fab! Hopefully not long to wait then. Thankyou :smile:


You're very welcome. Hopefully not!

Best wishes,

John.

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