Student Loans Company
The wait for students across England, Wales and Northern Ireland is finally over as A-level results were released earlier today (Thursday 17th August).
This also marks the start of Clearing, which can initially appear to be a daunting experience for many as they try to confirm their plans for the year ahead, accepting a place on the right course for them.
At SLC, we are ready to support those going through Clearing and we understand the importance of the job at hand. We deal with around 1.5m applications every year and invited students to apply for student finance before our deadlines earlier this year. We ask students to apply well in advance so that we can guarantee that the correct funding is in place at the start of the college or university term. Im pleased to say that the vast majority of applications submitted are now approved and ready to be paid for the start of the academic year in a few weeks time.
However, students shouldnt worry if they havent applied yet. If they accept a place during Clearing, there is still time to sort out their student finance.
Our focus now turns to processing the applications received following A-level results day as quickly as we can, ensuring that all our checks are carried out efficiently and effectively. Our advice to students is to keep checking their online account and complete any tasks/requests from us asap.
It can take up to six to eight weeks to process an application, so eligible students who are applying for student finance during Clearing and want to be assessed for higher rates of maintenance loans or additional grants may not receive their full funding entitlement at the start of term. However, in these circumstances, SLC will award Tuition Fee Loan and the minimum amount of Maintenance Loan (depending on the course, university and living arrangements) before the start of the course. This will allow us to confirm household income and any other relevant details required to approve the full application. The student will then receive any remainder of their maintenance loan and any other funding entitlement as a top up payment as soon as possible.
Its also important to mention that if a student has already applied for student finance and had their application approved, they dont need to do anything but can keep an eye on the application tracker within their online account, to check the status of their student finance and payment date.
For students who have accepted a place through Clearing on a course, university or college that is different to what they stated on their student finance application, its crucial these new details are updated on their online account as soon as possible. To help students who are applying for student finance during Clearing, SFE has a guide containing useful information including steps they can take to ensure their application can be processed quickly and how to update their details.
I would like to take this opportunity to wish students all the best ahead of the next chapter of