MSE News: Students promised loans and grants on time this year 19 May 2010 at 7:55PM edited 20 August 2010 at 4:22PM in Student MoneySaving 23 replies 2.7K views

Former_MSE_Natasha

This is the discussion thread for the following MSE News Story:

"The Student Loans Company (SLC) has vowed to ensure all university entrants who applied on time will have their loans and grants available by the start of the academic year..."

Read the full story:
Students promised loans and grants on time this year

Taiko

Unfortunately, and I know this due to where I'm based, this isn't going to be true. If you wanted some further insight Natasha, I'll be happy to discuss/provide evidence.

MrsBartolozzi

The link Natasha posted seems to say that last year because a loan wasn't processed by term start time the cash was late in getting to the student. I'd like to know, given what Taiko says, if a student already has the loan schedule of payment, with the bank details set up etc does that mean they will be paid on time?

My DS starts uni in 3 weeks, so I'd appreciate a heads up if there's any chance he won't get his money.

I'd sort of assumed this was all sorted, but I'm getting a bit anxious now.

susietheanorak

The way they are going to get around this is by saying that evidence was not submitted on time. Ours was sent in May, confirmed by post office tracking. At the end of June when I called because we had not heard anything they said that although it had been delivered, they do not have it. We then sent copies in July and they didnt call until August to say that they still needed extra paperwork. It seems that every time you send something you get pushed to the back of the queue again. I have been told today that they are currently doing those up to end of June! From an original application in May we are now down as the middle of July! And we have to do this every year, God help us!

jewelly

I think they must have broken all previous records last year by not paying my son's loan until APRIL this year! I just hope they don't do that again as I now have nil savings to pay his rent/keep.

angelofmel

MrsBartolozzi wrote: »

The link Natasha posted seems to say that last year because a loan wasn't processed by term start time the cash was late in getting to the student. I'd like to know, given what Taiko says, if a student already has the loan schedule of payment, with the bank details set up etc does that mean they will be paid on time?

My DS starts uni in 3 weeks, so I'd appreciate a heads up if there's any chance he won't get his money.

I'd sort of assumed this was all sorted, but I'm getting a bit anxious now.

as far as im aware, if you've recieved the schedule of the payments and it has a bar code and student support number then i see no reason why the money wont arrive within a few days of enrolment and the uni informing the loans people that the students enrolled. (payment for me as a fresher arrived a week after i enrolled).

Sobraon

DD1 goes to a Welsh university and the Welsh students laugh their socks off at the English students dealings with SFE. Last year it took until January for my daughter to get her first loan payment, despite all details being correctly supplied in May '09.

It looks like it is as bad this year and the SFE are again totally out of control. I phoned earlier this month to see if they knew what the interest rate would be from the 1st September. Both the call taker and his supervisor confirmed three times (remember all calls are recorded) that the interest rate would be "72%" yep "seventy two percent". Clearly absolute tosh - I asked to be transferred to repayments and the calltaker there was aghast.

So we are prepared for DD1's first payment of the second year to be delayed until after the New Year.

angelofmel

sobraon, did you have to send any extra evidence and things with the form this year for her second year? in theory if not there shouldnt be much of a delay (if any, fingers crossed for you!) as i get the impression its usually sorting the evidence that is causing the problems with SFE

my_definition

My sister never recieved her loan at all last year. She ended up leaving college anyway but the place is just a joke. My application was sent in lots of time and now the are saying the need to finalise last years payments before they can assess me for this years. I sent evidence last year but they hadnt sent the right thing and as they are atleast a month behind in the post it doesnt look like ill be getting anything except the minimum loan for ages. I really dont get why they couldnt assess me provisionally on my income and then ask for proof. I run a flat with my boyfriend who is also a student so were tens of thousands away from getting only a minimum loan and we need the money to pay bills. The student loan systems are just a joke. im in scotland btw so its saas but still student loans. Rant over

my_definition

MrsBartolozzi wrote: »

The link Natasha posted seems to say that last year because a loan wasn't processed by term start time the cash was late in getting to the student. I'd like to know, given what Taiko says, if a student already has the loan schedule of payment, with the bank details set up etc does that mean they will be paid on time?

My DS starts uni in 3 weeks, so I'd appreciate a heads up if there's any chance he won't get his money.

I'd sort of assumed this was all sorted, but I'm getting a bit anxious now.

oh and i would agree with the others you should get the money if you have the form and payments

Taiko

Ok, to clear up:

- If you have a schedule letter, you should receive payments on time, be these an interim one or full assessment.

- SFE are issuing non-income assessed loans to the majority, despite having full evidence. This in my personal view is a bad idea, as it effectively doubles the work load. Again, I know from experience that this doesn't work, hence why where I'm based refuses to do. We will consider it if it gets to a stage where there are about 2 weeks before term, but we won't just apply it to every single student.

- Local authorities are still processing some continuers. They do so on budget cuts, staff reductions, and the knowledge that, come March, their jobs are gone for good. Yet local authorities are all reasonably up to date in their processing.

- Documents are disappearing, and this can't be denied. In error, I have been sent several peoples documents that I shouldn't have, and even an SFE employees overtime claimsheet, which was for a large number of hours in a single month, before any of the deadlines! Imagine if that had been sent to a student in error, the media would have a field day due to the carelessness!

There's no easy way to say this, but most people are doomed yet again. This will be due to failing to learn the lessons from last year, and failure to act on things quick enough.