Deadline Passes For Student Loans
As University students have just about finished their exams for the year, or A levels for those preparing to go in to further higher education next year, it is likely that there will be a lot of drunken partying going on at the moment, in celebration and anticipation of the summer holidays.
But as students now start to relax, it is hoped that they all remembered to complete their student loan applications for the coming financial year, starting in September, as the deadline for means tested loan applications has now passed.
The deadline for student loan applications was the 25th June and by this time students needed to have sent their application in, along with the supplementary application forms from their parents, giving details of their income and finances in order to assess the loan available.
Last year saw huge problems with the student loan system, in which many loan applications were not processed in time and students were starting their University term without any funding from their student loan.
In many cases, students were forced to use either credit cards, or more expensive unsecured personal loans to pay their rent, as well as buy essentials such as food and beer!
Following the problems encountered last year in the student loan application process, both the chairman and chief executive of the student loan company were forced to resign over the failings and shortcomings of the system.
With more new students entering higher education than ever and needing to apply for student loans to fund their education, there is growing pressure on the student loan company to get their processing in order.
Professor Sir Deian Hopkin, interim chairman of the student loan company said “We are determined to do all we can to avoid the problems of last summer. There is a lot of good work going on to implement improvements with the urgency that is needed.”
