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Wednesday, 8 October 2008

What happens to your student finance application

For new students, there are a number of stages to the assessment and payment of your financial help. It may be useful for you to understand who deals with your application at which stage, and how long you can expect the process to take.

Checking the progress of your application

There are five main stages your student finance application goes through. These are outlined below.

You can also check the progress of your application by registering and logging into your online student finance account.


Step one: submit your application for student finance

You should apply for financial help as soon as possible after you have applied for your course.

Once you have completed your details, your form may then go to your parent, partner or spouse to complete details of their income.

If any of your details subsequently change, contact your local authority to keep them informed of this.


Step two: your application is assessed

Your local authority will review the information on your application form, and will decide the amount of financial help you are entitled to.


Step three: support is confirmed and prepared for payment

Once your local authority decide how much financial help you are entitled to, they forward this information to Student Finance Direct.

Student Finance Direct will then write to you to confirm the amounts that will be paid to you and when.

The dates given in this correspondence are dependent upon you registering on your course in time, and ensuring that Student Finance Direct have your most up to date bank account details.

If you have supplied all necessary information with your application, you can expect to be advised of your support entitlement between six and eight weeks after you have submitted it.


Step four: register on your course

When you register on your course, take with you:

  • your Financial Assessment (sent to you by your local authority)
  • your Payment Schedule Letter (sent to you by Student Finance Direct)

Your place of study will then send a message to Student Finance Direct on the same day confirming your attendance.

Student Finance Direct will then release payment of the first instalment of your loan and/or grant.


Step five: your financial help is paid

Payment is released automatically when your confirmation of attendance is received.

It usually clears in your bank account within three to five working days.

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