Student Loans Company Urges Students To Get Finances In Shape For 2019
28 December 2018
Return to: www.slc.co.uk
28 December 2018
The Student Loans Company (SLC) is urging all students to make a New Year’s resolution to get their student finances in shape for 2019.
The application process opens early next year so new, returning students and their sponsors can start to plan ahead, get ready to apply and ensure finances are in place for the new academic year.
The Company has made a number of digital improvements over the last year to make the application process easier for students, including e-Signatures for terms and conditions, SMS password reset option and increased social media resource to answer customer queries online.
Derek Ross, Executive Director of Operations, at SLC said:
“We are expecting to process almost two million applications in 2019 so it's important that students apply as early as possible to get their funding in place - you can apply before you have a confirmed university place.
"We have made a number of improvements to the application process; over 900,000 undergraduates have applied using our e-Signatures to sign their terms and conditions and we redesigned our password reset process, taking advantage of the government’s SMS ‘Notify’ service. We have also increased the size of our social media team and introduced private messaging on Facebook and Twitter, so students can contact us in a way that suits them. We will announce when the applications are open on social media too.
"Students should start researching now to find out what funding is available for them and their parents or partners can help by pulling together key information including their income details and National Insurance numbers, which may be needed to support the application process."
SLC's Top Tips for getting your finances in shape for 2019:
· Make an early start on finding out what funding could be available to you at gov.uk/studentfinance, studentfinancewales.co.uk, www.studentfinanceni.co.uk and www.saas.gov.uk Extra help may be available to you if you have dependants or a disability.
· Remember, you may be eligible for Maintenance Loan to help you meet living costs, such as rent and bills. The amount of the Maintenance Loan is dependent on your household income, where you live and where you study.
· Before you complete the online application form make sure you have your National Insurance Number and Passport details to hand as you will be asked for this information as part of the application process.
· Keep a note of the email address you use when applying for student finance and make sure you choose a password that you’ll remember. The most common calls to the Student Loans Company are from students who have forgotten their password.
· If you’re continuing your course this year but your personal details or family circumstances have changed since last year, make sure you gather the details in advance of submitting your application.
· If your contact details or bank account details change let Student Finance England or Student Finance Wales know right away. The fastest way to do this is through your online account.
· Be aware of fraudsters trying to steal your student finance by sending phishing emails claiming to be from the Student Loans Company or Student Finance England/Wales.
· Send any suspicious student finance emails to firstname.lastname@example.org to highlight them to the Student Loans Company, who can close them down to protect other students.
· Never post your bank details anywhere online or disclose them in an email or text.
Parents and Partners
· The Student Loans Company will automatically verify things like income details directly with HMRC. Sometimes however, evidence from the sponsor of a student finance application is required. This should be submitted as soon as possible so it’s a good idea to have your own national insurance number and income details to hand.
· You must provide the correct financial and personal information as funding can be removed if this is found to be incorrect.