Student Loans Company Payment Delays
Has your assessment for student financial support been delayed? Are you in financial difficulty as a result? If so we can discuss with you arrangements for deferring the payment of accommodation charges and other costs, as well as possible sources of immediate financial help, including emergency loans. Staff from the Welfare and Financial Advice Service in Student Services can provide help and advice.
The University is aware Student Finance England is currently experiencing difficulties processing applications for student support from students who started university in 2009 and some continuing students. In some cases the company has paid applicants the non-assessed part of the maintenance loan (72%), with the remainder to be paid, where applicable, after the full assessment has taken place. However the University is aware not all applicants have received this interim payment.
The university appreciates that this will mean some new and continuing students will have started the new academic year without the full financial support to which they are entitled or were expecting. To help ease the difficulties students and their parents may face in this situation the University has made the following arrangements.
Tuition Fees
Tuition fees for those students on first degree or equivalent courses who have applied to Student Finance England for the tuition fee loan will have their tuition fees paid to the University by Student Finance England in the normal way.
Students entitled to apply for the tuition fee loan who have not already done so should consider applying as soon as possible to Student Finance England so that their tuition fees will be paid direct to the University with no further action required by the student.
Accommodation Costs
Students with places in university managed accommodation who think they will have difficulties paying their rent should inform the University Finance Office who, if satisfied the applicant has already received some funding, will accept a minimum 50% payment of the student’s first rent installment. If the university is satisfied no funding has been received accommodation payments may be deferred until it has.
Students living in private rented accommodation who think they will have difficulties paying their rent because their student support has been delayed should inform their landlord. Staff in the University’s Finance Office or the Welfare and Financial Advice Service in Student Services can confirm the situation to landlords if necessary but cannot negotiate individually with landlords about the rent payments of University of Worcester students.
University Nursery Fees
Students with children placed in the University nursery will be invoiced for nursery fees from the end of October in the usual way. Where students think they will have difficulty paying their first or subsequent invoices for nursery fees because of the delays in processing applications for financial support they may agree an individual arrangement with the University Finance Office.
Additional course costs
Students taking courses where additional costs are usually incurred, for example for equipment or field trips etc, should seek advice from their course tutors as to which purchases may be deferred until later in the year.
Immediate Hardship
Any University of Worcester student experiencing immediate financial hardship because of the delay in processing applications for student support should contact the Welfare and Finance Advisers in Student Services to discuss possible course of action, including emergency financial support where appropriate. Such discussions will be in total confidence and the university may require evidence of the student’s financial situation before putting any arrangements in place.
Further Help
For general information and advice on student finance and related matters contact the university’s welfare and financial advisers on 01905 855501/542091 or email moneyadvice@worc.ac.uk Or you can visit them in rooms WB 072 and WB 074, Woodbury Building from 0900 to 1600 Monday to Thursday, or from 0900 to 1530 on Fridays.
Practical advice if you are running short of money
Direct Debits
If you have arranged for direct debits to be made from your bank account but do not think there will be sufficient funds in the account to cover these costs, ask your bank to suspend deductions so that you do not become overdrawn. Also tell the persons or companies due to receive payment what you have done and make alternative arrangements to pay them.
WARNING –LOAN SHARKS
A number of money lenders, some of whom are unlicensed “loan sharks”, have been taking advantage of the delays that some students have experienced with their student finance and have been targeting young people, often through social networking sites. They charge very high rates of interest and should be avoided at all costs. For further information and advice contact the University Welfare and Financial Advice team.