SongBird2020
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So SFE is going to pay me on 20th September but I'm wondering how will they pay me? And how do I keep the loan payment separate from my own money in my account. I was told that I will be paid £3000, will this be the full amount or in installments? Thanks
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GabiAbi84
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What do you mean by how will they pay you?
Your loan amount will go into your bank account that you filled out the details for in your application/student finance account.

It’s up to you what you do with the money.
Your entitlement notification letter should tell you the breakdown of the amount you will be getting.
Generally it is split into 3 payments of 33%, 33% and 34%.
(I am assuming you are talking about an undergraduate maintenance loan)
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SongBird2020
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(Original post by GabiAbi84)
What do you mean by how will they pay you?
Your loan amount will go into your bank account that you filled out the details for in your application/student finance account.

It’s up to you what you do with the money.
Your entitlement notification letter should tell you the breakdown of the amount you will be getting.
Generally it is split into 3 payments of 33%, 33% and 34%.
(I am assuming you are talking about an undergraduate maintenance loan)
Yes it's an undergraduate maintenance loan but in my letter I never got told that the payment is split. It only said that I will be payed £3000 on the 20th September.

And for example, if I have £2000 of my own money in my bank account. The loan paid to me would make the total to £5000 right? So is there any way I could keep the £2000 separate from my £3000 loan?
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GabiAbi84
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(Original post by SongBird2020)
Yes it's an undergraduate maintenance loan but in my letter I never got told that the payment is split. It only said that I will be payed £3000 on the 20th September.

And for example, if I have £2000 of my own money in my bank account. The loan paid to me would make the total to £5000 right? So is there any way I could keep the £2000 separate from my £3000 loan?
You could keep it separate by opening a second bank account. Often people will have one for bills and one to spend.
You should have an award letter that tells you your full amount of maintenance loan you have been given. If it says £3k is going in on September I’d assume then that £3k is going in on 20th September.
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