The Student Loans Company (SLC) is urging new students to submit their student finance application now, as new research suggests almost half aren’t planning to apply until later in the year.
The student finance application service for the 2024/2025 academic year opened earlier this month and research commissioned by SLC has revealed that 48% of students are not planning on applying right away. When asked when they plan to apply for student finance, 27% of students said they may wait to apply until their course is confirmed, 11% may apply in a couple of months’ time, 5% may wait until their course starts and 5% are not sure when they should apply.
However, SLC is reminding students that it’s vital to apply as earlier as possible, as the application process can take around six to eight weeks to complete. Students don’t need to have a confirmed place on a course at university or college to make their application, as their course details can be updated at a later date. And if applications are submitted by 17 May, SLC guarantee their student finance will be in place for the start of the academic year.
Jackie Currie, SLC Executive Director of Operations, said: “Applying for student finance is a crucial step for students preparing to undertake their higher education journey at university and college. I strongly encourage new students to apply for their finance as early as possible, this will ensure peace of mind that their funding will be available at the start of term and allow them to focus on their study and important exam preparation in the coming months.”
