The Student Loans Company has admitted that at least 50,000 students are going to start university without grants or loans.
It has been said by the company that the sheer pressure on the system meant that many undergraduates that had applied late had still not had claims processed.
50,000 students face starting term without money, books and food rent
The company also said that a further 50,000 are not going to get their full entitlement at the time when term begins.
According to them the poorest students would be left short of money for rent, books and food.
This year there is a 17 per cent increase in the number of people applying for university funding this year. this surge is due to the record numbers of students that has started degree courses in 2009 coupled with the effects of the recession.
First time SDC is handling the applications for grants
This year for the first time, instead of local authorities, SDC is handling the applications for grants through Student Finance England and sister organizations for Wales, Northern Ireland and Scotland.
During last four weeks 120,000 students applied for finance
It has been disclosed on Thursday that officials are only processing applications that has been made in “mid to late August”. In the last four weeks almost 120,000 students have applied for finance. It has been said by the SLC that it was “in correspondence” with many of these but they had not dealt with about 50,000.
Derek Ross, deputy chief executive of the SLC has said that next year the SLC would collect students’ data direct from HM Revenue & Customs and the Identity & Passport Service so that the process could be speed up.
Underestimation of phone calls received
It has also been admitted by him that the company had “underestimated” the number of phone calls it would receive. Last week the SLC has employed additional phone operators.
