Student Loans Company warns students waiting for A-level results on Tuesday, August 10 , including those using Clearing, to not wait to apply for loans
Do not wait for A-level results to apply for student finance.
With a week to go until the release of grades, students are being warned to make sure loan applications are in place now even if their plans still remain unclear.
The Student Loans Company(SLC) says it expects to process a record number of applications this year.
The government-owned company is advising that any student who thinks they might be going to university or college later this year and who has not yet submitted an application for financial support should do so now to ensure they receive their funding as close to the start of term as possible.
The results of A-level exams, the process for which was once again altered this year because of the coronavirus pandemic, will be released on Tuesday, August 10. Grades have been teacher-assessed after exam board examinations were cancelled for a second year in a row.
Even if students are not yet certain about which course they will be doing, or where they might be going, anyone with the intention of further education or plans to enter the university Clearing system to find a place should still apply now for their loan and then update their online application later if they need to and when plans are further confirmed.
To help students who are applying for student finance during Clearing, SLC has produced a new guide containing useful resources including steps they can take to ensure their application can be processed quickly.
Those who have already applied for funding do not need to do anything more at this point unless they are asked to provide evidence, in which case they should do it 'promptly' says SLC, or unless their university, college or course details change, in which case they should update that information on their online accounts.
Student finance applications can take six to eight weeks to process, says SLC, and eligible students who apply now may risk not being given their full funding by the time their university term starts. However in those cases students should still be awarded the minimum maintenance loan amount first to enable them to start, followed by a top-up payment if they are eligible for more money.
Students can keep track of their applications and view their application status via online accounts.
Chris Larmer, SLC Executive Director of Operations, said: “SLC exists to enable people to invest in their futures through further and higher education. This year we anticipate supporting more students than ever before and we are urging any prospective student, who has not applied for student finance, to do so now to ensure they have some funding in place at the start of term.
“We appreciate that now more than ever, attending university for the first time can be daunting, and we hope students will take advantage of the new guide we have made available online to help them as they go through Clearing.”
Students can stay up to date with all the latest student finance information, including information about Clearing 2021 by following Student Finance England on Facebook, Instagram, and Twitter. For more details click here.
