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Are loan payment dates set in stone?

ts1994

Hi there,

I am an MA student, and have just received my second of three loans. While my course is three terms, the third is not taught and I am instead required to undertake (and fund) a practical project to submit.

That being said, I have started early on my project and am well underway - I will be submitting in early April. By the time my loan comes in, I will have submitted my work and will essentially be done with the MA.

What I am essentially asking if if the loan payment dates are 100% set in stone or if there is any leeway - think I heard a few years back that it was possible to receive the loan in one lump sum at the start of each year, although I can't find any information to support this so it may well have been false.

Thanks in advance.

Reply 1

Elizabeth SFE

Official Rep

Hi

Post Graduate Loan payments are paid in 3 instalments per Academic Year (AY) with the total awarded split as:

1st instalment - 33%

2nd instalment - 33%

3rd instalment - 34%

The dates the instalments will be paid will be as below:

1st instalment - course start date as provided by the HEP (assuming confirmation of registration received)

2nd instalment - last Wednesday in January 2017*

3rd instalment - last Wednesday in April 2017*

*August starters will share the same payment dates as September starters.

We are not able to change the dates or the percentage split.

Thanks

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