Confused over how much SL I actually get..

Eddie001_2

Received a statment that goes something like this:

Tuition Fee Loan paid direct to your University or College

Total Tuition Fee Loan Available £3225.00

Total Tuition Fee Loan Requested£3225.00

HE Maintenance Grant £2906.00

Total Maintenance Loan Available£3663.00
Total Maintenance Loan Requested£3663.00


Now I know the fees go directly to the college, but do the second set of figures (2906 and 3663) get added together or is the HE grant in some way subtracted (as I have read on some sites) from the loan?

All very confusing...

MrsManda

You get the HE Grant and the maintanence loan. The calculation involving the decrease of the loan portion in relation to the HE grant has already been taken - the figures it gives on the statement of entitlement is what you will receive (except the fee loan as you said).

Eddie001_2

Thanks for the speedy reply Mrs Manda. Just to be clear, this means I will receive a total payment of 6569 pounds. That correct? Sorry to seem so dense, but this is a worry to me.

I also assume this will be split into 3 parts, paid at the start of each term.

Do they typically pay just before the start of term or is it a random event dependent on how busy they are?

MissPop

I think a lot of students are feeling pretty dense at the moment, having to deal with Student Finance! Yes, your loan is split into three payments, and AFAIK, they are paid roughly at the start of the term - I have heard it be suggested that freshers have a fund of a couple of hundred quid to tide them over at the start of the year/during Freshers in case the loan doesn't come through exactly on time. I think that if there was any major delay in loans being paid, you could contact your uni and they could arrange a temporary loan through the uni's hardship fund (I'm pretty sure most have one of those).

Eddie001_2

Okay, that's good to know. At least it's a relief to know that I am going to get 6569, I had thought at one point, because of the wording of the SLC form, that I was only going to get 3663, which would have made the whole thing infeasable

MrsManda

As MissPop said, though it usually gets paid on the first day of term it maybe a few weeks before you get it. If you sort out a student account as soon as you have a confirmation of acceptance letter from your university you will have an interest free overdraft to use if there is a delay on getting your loan.

Eddie001_2

okay, thanks for that, I'll post here again if I make any progress.

luv_or_h8_me

I get my payments in Oct/Jan/March if that helps??

You get the biggest proportions of your loan and grant in your Oct and Jan. By March your almost finished uni.

Eddie001_2

Ah right, so it's not a straight 1/3 split at the start of each term then?

And thanks for the dates. That helps with my planning.

student_advisor

Eddie001 wrote: »

Ah right, so it's not a straight 1/3 split at the start of each term then?

And thanks for the dates. That helps with my planning.

I understand it's 33%, 33%, 34% for autumn, spring & summer terms.

Payments are normally made on the first day of each term.

Your dates & payments will be confirmed in writing from SFE and will also be displayed in your payments section on your online account.

As soon as you have been assessed, your payment details should be on your account.

Eddie001_2

Payment details are showing on my account, or at least the amount I will get is showing, no dates as yet, but I guess that changes per term.?.?