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Going through Clearing? Make sure your finances are in order!

Wednesday 17 August 2011Becoming a Student

With A-levels results being announced on Thursday and Scottish Highers results already out it’s time to make sure your finances are in order in time for the start of term in September.

For those of you who are thinking of going through Clearing you’ll most likely need to change your loan application details, or begin a brand new application all together. Your funding body will help you navigate your finances and make sure you get some of your loan in time for the beginning of your course.

In England, that’s Student Finance England, in Northern Ireland Student Finance NI, in Scotland the Student Awards Agency for Scotland and in Wales Student Finance Wales.

Already applied for a loan but your details have changed due to Clearing?

If you have already applied for a loan but have decided to go through the Clearing process then you’re application details will need to be changed. If you’re funded by Student Finance England, this can be done easily and quickly at www.gov.uk/studentfinance by logging into your student account, or by contacting the relevant funder if you live elsewhere.

Applying to university through Clearing but haven’t applied for a loan yet?

Unfortunately the official deadlines for student finance applications have past. But all is not lost! You can still apply for finance but do be aware that the funding body may not be able to process your application in time for the beginning of your course.

Whatever happens, the funding body will make sure you have some money as close to the beginning of your course as possible. They’ll do this by initially assessing how much money you would be entitled to without taking household income into account. Once they’ve got all the application details they need they’ll complete the assessment in full.

Once your loan is confirmed

Don’t forget to sign and return the declaration you receive from your funding body or you won’t receive any payments at the start of term!

Your finances will be put into your account within three working days of you registering with your university or college. Unfortunately you won’t get any money before the course starts.

Please remember that the maintenance and any grants you may be getting are paid straight into your account but any loans or grants for student fees will be going straight to the university or college.