Maintenance Loan payments reach £2.1bn as new academic year gets underway

Maintenance Loan payments reach £2.1bn as new academic year gets underway

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As the 2022/23 academic year gets underway, SLC has been making Maintenance Loan payments to students across the country.

Monday (26th September) was its biggest payment day of this academic year, with £797m of funding paid into the bank accounts of 372k students. This brings the total paid out so far this term to £2.1bn.

SLC is able to release payments to students once they have enrolled or registered with their university or college, and we have received this confirmation. Students can quickly and easily check the status of their payment via their online account.

If a student has applied for student finance late, they may not get their full entitlement straight away, as it can take six to eight weeks to process an application. In these cases, once eligibility is confirmed, the minimum Maintenance Loan is paid first, followed by a top-up payment if the student is entitled to more funding. If more information is needed, SLC will get in touch. More information can be found here – Find out more about applying late online.

To provide support to students who have questions about their payment, SLC has made a ‘common questions’ area available within their online accounts and they can also access our online guide to payment. Students can keep up with all the latest student finance information by following Student Finance England on Facebook, Twitter, Instagram and YouTube.
*Please note these are provisional figures.

Full year figures are published in SLC’s Student Support for Higher Education statistical release, which will be published on 24 November.

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Published 27 September 2022

»Maintenance Loan payments reach £2.1bn as new academic year gets underway«

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