How your student loan will 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 loan, any grants, 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.
The application cycle for funding through Student Finance England, Wales, Northern Ireland and the Student Awards Agency for Scotland for the 2020/21 academic session is now open.
Information for first year students - how payments are made
Before any payments are made to you by the SLC, your registration on the programme must be confirmed. If the University or College Payment Advice page of your entitlement letter (sent by SLC - this is located in the 'letters and emails' section of your Student Finance online account) states that you are studying at a different institution (not DMU), the information will need to be updated so that the Student Loans Company is aware that you are registered at DMU.
After 1st September 2020: If you are a home student, DMU will notify Student Finance England (SFE) of any changes to your university details on your behalf.
If you have a funding entitlement letter which is linked to another university, take the following action:
- Email the University or College Payment Advice page of the entitlement letter to firstname.lastname@example.org, include your full name and date of birth and briefly explain your situation.
Prior to 1st September 2020, you can make any changes to your Student Finance application (including your university or course details) via your Student Finance online account.
If you are an EU student, you will need to make changes by completing and posting the EUCO1 form to the Student Loans Company.
The earliest payment date for the 2020/21 academic year is 05 October 2020. If your application for funding is approved and finalised late, then any payments are usually received in your nominated bank account 3-5 working days after your registration is confirmed.
Student Finance England have produced the video below which explains the payment process.
First year students should note; student funding will not be paid to you on your first day at university. Therefore, you should ensure that you have funds available to you until this payment is made.
Information for returning students
All students are reminded that they must have an SFE approved student finance application and completed SFE's Student Declaration Form before any funding will be released.
All students must also have undertaken DMU's online re registration process and have the status of final on the university's database in order to trigger their payments from Student Finance England.
Following your registration being confirmed, if you do not receive your payments, please email email@example.com or call Student Administrative Support on 0116 257 7595 (option 3).
Please note: The NHS Learning Support Fund (LSF) is applied for via the NHS Business Services Authority (NHSBSA) not the Student Loans Company. Confirmation of registration to release the payments from the NHS LSF is done by the Faculty of Health and Life Sciences.
Postgraduate students with loans from Student Finance England
If you are starting a postgraduate course at DMU this year, and have applied for a Postgraduate Loan, please retain the Postgraduate Loan Summary page of your loan approval letter from Student Finance England (SFE) just in case you are asked to e mail a copy of it to firstname.lastname@example.org.
If there is a mismatch between the course details on the Postgraduate Loan Summary and the course which you have been registered on by your faculty, this could result in a delay to the payment of your Masters Loan.
Payments are usually received in your nominated bank account 3-5 working days after your registration confirmation has been received by SFE.
If you have any queries about your Masters Loan either now or in the future, please contact the Student Administrative Support team at email@example.com.