Students Still Waiting For Loans
Classified as: News, Student Loans
Latest figures show that thousands of students in England are still facing delays in getting loans and grants, although many weeks have passed since the start of term.
The Student Loans Company stated that almost 132,000 applicants are there, who have not received first maintenance payment after approval.
This figure includes the applicants who failed to take places, but at least 60,000 are still being processed.
The students had been assured by the loan companies, that all payments would be processed by the end of October, which hasn’t been done so far.
In response to the complaints launched by students and ministers, the loans company have promised that everyone who has applied and submitted correct evidence in support of their application by mid-August, will be processed for payment by the end of October.
But the latest figures have shown that there are around 132,000 approved applicants, who have not received payments as yet. This figure also includes students who have not started courses, those who are not seeking support and applications about to be paid into bank accounts.
However, there are still 24,000 applications that are being processed and a further 40,000 waiting for further information from students, which may include students who have complained about lost documents or face confusion over information submitted.
The students and their families have complained of facing difficulty in getting through to the loans company and a lack of information about the processing of forms.
In order to solve the issue, the Westminster government appointed two external experts, former London South Bank University vice-chancellor Sir Deian Hopkin and Bernadette Kenny of HM Revenue and Customs.
According to the Student Loans Company, around 723,000 students have been paid by October 25, but at the same time last year, 705,000 students had received their first maintenance payment.
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