Ahead of the release of A-Level results on Thursday (18th), the
Student Loans Company (SLC) is sharing its top tips for
prospective students going through Clearing this year.
It’s predicted that this year’s Clearing window will be busier
than ever, due to a range of factors, including an increase in
the number of 18-year-olds heading to university or college as
well as a return to a more normal academic year following Covid.
SLC is encouraging students not to wait to apply for student
finance, even if they don’t have a confirmed course place yet.
With a processing time of up to six to eight weeks, eligible
students who are applying for higher rates of maintenance loans
or for additional grants may not receive their full funding
entitlement at the start of term. However, in these circumstances
SLC will award the Tuition Fee Loan and the minimum amount of
Maintenance Loan before the start of the course, while it
confirms household income and any other relevant details.
Students will get the remainder of their maintenance and any
other funding entitlement as a top up payment as soon as possible
once those details are confirmed.
Chris Larmer, Operations Director at SLC, said: “We have around
1.5 million students expected to start or return to education
this autumn and my advice to students this week is not to wait
for your exams results - submit an application as soon as
possible as it can always be changed and updated online at a
later date.”
SLC’s Clearing Top Tips
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The easiest way to apply is online:
Students in England can apply at: https://studentfinance.campaign.gov.uk/
Students in Wales can apply at: https://www.studentfinancewales.co.uk/discover-student-finance
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For most students, it’s straightforward to apply and
should only take around 30 minutes.
This year SLC has improved the service to make it easier to
use, which means that the majority can complete their
application digitally – submitting evidence, updating
personal details and checking on next steps via their online
accounts. If they need any help, there is plenty of
information available online. Students in England can apply
at: https://studentfinance.campaign.gov.uk/
Students in Wales can apply at: https://www.studentfinancewales.co.uk/discover-student-finance
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Once submitted, applications take up to six to eight
weeks to process and we will get in touch if we need more
information.
Students can use the application tracker in their online
account to view their application’s status, at a time that is
convenient for them– so they don’t have to worry or get in
touch with us for an update on progress. Read more about the
process: https://www.gov.uk/guidance/how-to-get-your-first-payment-if-youre-applying-late
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You won’t need to do anything unless your university,
college or course details change.
If you accept a place at university or college through
Clearing, you’ll need to sign in to your student
finance account and let us know of any changes. You must
do this even if your UCAS application has changed - your
student finance application is not linked to UCAS. You’ll
need to change the university or college on the application
as well as your course. You should also tell us the correct
tuition fee being charged for your new course.
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If your exam results are different from what you
expected and your course choice if different from when you
initially applied for your student finance, make sure that you
update your course and university details in your online
account right away.
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To help students in England who are applying for
student finance during Clearing.
SLC has a guide containing
useful information including steps they can take to ensure
their application can be processed quickly.
Chris added: “Last year, we paid out £22bn in Tuition Fees and
Maintenance Loans and this year we are expecting similar numbers.
Our absolute priority is to ensure that we have as many student
finance applications as possible processed and ready to pay at
the start of term, including those that applied during Clearing.
Our team is ready for a busy few weeks ahead and we wish students
all the best on Thursday.”
SLC opened its application window in February this year and
students were encouraged to apply before the deadline (20 May
2022 for new students and 24 June 2022 for returning students) to
ensure they had their finance in place for the start of term.
Students whose applications are currently being processed but
whose course, university or college haven’t changed after results
day, do not need to take any action unless they are asked to
provide evidence. In
that situation, SLC will be in touch. Students can keep track of
their application status via the online tracker.
