SLC is gearing up to pay out around £2.5 billion in first term maintenance payments and will send over 1m text messages to new and continuing students to tell them the money is on its way. The funds are released after students have registered at university or college and their attendance has been confirmed to SLC by the institution.
Derek Ross, Director of Operations said:
“If a student has changed their mobile number since they applied for student finance, they will miss out on important texts giving them information about their payment. With many courses starting in the next few weeks it's worth taking two minutes to log into their account online to check that they have the right contact number or to update it."
The Student Loans Company has also offered tips for students at the start of term
- Check your mobile number is correct by logging on to your account at www.gov.uk/studentfinance or www.studentfinancewales.co.uk
- Check your bank details are correct and up to date by logging into your online account.
- If you've not already applied for finance, do it now at www.gov.uk/studentfinance or www.studentfinancewales.co.uk
- Send in any requested evidence straight away or it will hold up payment.
- Remember to sign and return your online declaration. Log into your online account and follow the instructions on your to-do list.
- Be aware of fraudsters targeting your student finance. SLC will never request a customer provides or confirms their account or banking details by email or text. Anyone who receives a scam email about student finance should send it to us at email@example.com, as this allows us to close the site down and stop students from being caught out.