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Apply for your loans now, students told

Apply for your loans now, students told

Category: Loans

Updated: 18/06/2010
First Published: 18/06/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Some students have yet to finish their summer exams, but they have been urged to apply for their 2010/11 student loans as soon as possible.

The deadline for means-tested applications for students starting further education in September is 25 June – just one week away.

Thousands of new students found themselves without their loans at the beginning of the last financial year in September, as a system to process all first time inquiries failed.

Many were forced to pay their rent and fees with credit cards, loans, hardship funds, or look to family for help.

The fall out from the problems saw the Student Loans Company's chairman and chief executive, John Goodfellow and Ralph Seymour Jackson, stand down from their respective positions.

David Willets, the Universities and Science Minister, has urged students to apply online now for their loans and grants to make sure such a scenario is not played out once again.

"Enrolling at a university is an exciting time for students and a very busy time for Student Finance England," he said at a processing centre today.

"Applying as soon as possible will help students avoid unnecessary stress."

The Interim Chairman of the Student Loans Company, Professor Sir Deian Hopkin, echoed the minister's words.

"We are determined to do all we can to avoid the problems of the last summer," he said. "There is a lot of good work going on to implement improvements with the urgency that is needed."

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