Applying for student finance

No first-year wants to start the year out of pocket and with the rising cost of living, it’s now even more important to make sure you have your student finance sorted ahead of time.

Paying for university can seem daunting, but fortunately funding is available and the good news is that you only have to start paying it back once you earn over £25,000 a year.

There are two types of loan that you'll probably apply for: tuition fees and maintenance loans. If you haven’t already looked at our article on how to pay for uni, spend time reading through it now as we talk about the fees and costs that are associated with university, as well as the funding options and loans that are available to you.

Applying for your loan

Applying for student finance is quite simple, however the process itself is rather slow and it can take up to six weeks to process your application, so make sure you apply as early as possible. You don't need to have university offers in place to apply for finance, and you can amend or cancel your application if needed.

When can I apply for student finance?

Applications aren't open just yet. They should be opening next month. But you can follow student finance across social media, or check out their websites for the latest updates:

• England
• Scotland
• Wales
• Northern Ireland
• Jersey
• Guernsey
• Isle of Man

If you're applying internationally, the financing available will differ depending on your country. But we've got some useful information for international students.

How do I apply for student finance?

1. Set up an account on one of the websites above. The process will be slightly different depending on which website you're applying through.
2. Complete the online application – This should take approximately 10 minutes and you’ll need your National Insurance number.
3. Add your household income if this is relevant to you. Your parents may need to complete this. The information you provide will be used to work out if you’re eligible for extra loans.
4. Send in proof of identity
5. Sign and return the loan declaration, which can take up to six weeks to receive. Don’t forget to do this because it can delay the money getting to your account if you do.

I'm an EU student - what do I do?

1. Download an application pack using the form finder from Student Finance England (if you're looking to study in Scotland, Wales and Northern Ireland, you will need a different form but you can find these on the Student Finance England website)
2. Send in proof of identity.
3. Wait up to six weeks for a letter confirming the amount you are eligible for.

When do I apply for student finance?

Applications aren't open yet, but make sure you check the relevant website (listed above) to get the latest information.

It’s important that you get your application off as soon as possible to ensure it arrives on time, which is usually 3-5 days after registering at your uni. You won't receive a penny until you've turned up and registered. Despite this, you can still apply for funding up to nine months after the first day of the academic year.

Applying for finance after Clearing

You should apply for finance as soon as possible and you do not need to have accepted a university place before applying. If you apply for finance and then change your mind about the university that you want to go to, or reapply for a different course or university through Clearing, you will need to update your application for finance. You can do this online and it is very easy to do, just sign into your student finance account and let The Student Loans Company know of the changes.

Making changes to your application

This walk-through film will show you how to update your information online.

For full-time students, sign in to your online account and follow these easy steps:

1. Click ‘Undergraduate student finance applications’
2. Select the application you wish to change
3. Under the heading ‘Manage your student finance’, click ‘View and manage your applications’
4. Click ‘Change your application’ and then click again
5. Click ‘University/college and course’
6. Click ‘Submit’ once you’ve entered and confirmed your changes

If you’re unable to make the changes online, you can upload a completed CO1 Form to your online account and The Student Loans Company can make these changes for you.

How do I update my information?

Once you've sent in your application, it's really easy to change any information. That could be anything from your personal details to your choice of university or course. All you have to do is log in to Student Finance England and make the changes online. It's important that your details are correct to ensure that you aren't under- or overpaid as this may lead to you repaying your loan earlier.

Applying for extra support

What extra support is there?

When applying for your university, they may have some bursaries and grants available to help you with your studies. It's worth checking out their websites to see what's available. If you're applying to Solent University, here are the scholarships, grants and bursaries available. There's also more information in our how will I pay for uni article.

How do I apply for Disabled Students Allowance (DSA)?

You may also be eligible to apply for DSA if you require additional support at university. DSA is a non-repayable grant that provides funding for some academic support during your studies. Applications for DSA opens at the same time as student finance - you can find more information here.

Remember, you don't need any offers before applying for student finance, so it’s a good idea to apply now.