How will my student loan be paid?
Student financial support is available to most full time undergraduate UK students, and to some EU and some part time undergraduate students.
The Student Loans Company (SLC) is responsible for paying tuition fee loans directly to the university, and for paying most of the financial support to which you are entitled directly into your bank account. This support may be a Maintenance Grant, other grants, a Maintenance Loan, or a DMU bursary or scholarship.
Students are required to apply for funding every year, even if their circumstances haven’t changed. For more information and to make an application visit www.gov.uk/student-finance
New students can apply for their funding before they hold a confirmed offer for a University place, they should apply for funding for their first choice University/course. By applying earlier it means your funding will be ready for the start of term. If you leave it later (i.e. after the deadline) having your funding ready for the start of term is not guaranteed. Should you change your mind about which university or course you wish to attend, your Student Funding application can be amended at a later date.
Student Finance England expect to open for applications for the 2017/18 academic session in early 2017 and the deadlines for applications for which they will guarantee payments at the start of the academic year are
- 31 May for new students
- 30 June for returning students
Student Finance Wales, Northern Ireland and the Students Awards Agency for Scotland dates differ slightly – please visit their websites directly for the most up-to-date information.
How payments are made
Before any payments are made to you by the SLC, your registration on the programme must be confirmed. For 1st year students, the University or College Payment Advice letter sent by the SLC should be taken, together with your DMU student ID card, to the Student Finance and Welfare counter in Student Gateway (ground floor Gateway House), if it was not handed in at your faculty Enrolment event.
Your registration is then confirmed to the SLC, which will release the BACS payment to your bank account in three or four working days.
Student Finance England have produced the video below which explains the payment process.
Important information for first year students
First year students should note; student funding will not be paid to you on your first day at university. Therefore, you should ensure you have funds available to you until this payment is made.
Information for returning students
Information about confirming your registration for returning students will be e-mailed to you by mid September.
All students are reminded that they must have approved application and have returned their “Student Declaration” before any funding will be released.
Following your registration being confirmed, if you do not receive your payments, please visit the Student Finance and Welfare counter in Student Gateway or email email@example.com
Please note: NHS funding is applied for via the NHS Bursary Services Authority (NHSBSA) nhsbsa.nhs.uk, not the Student Loan Company. Separate applications will need to be made by NHS funded students to the NHSBSA. Confirmation of registration for the NHS bursary is done by the Faculty of Health and Life Sciences.