Will Student Loans Be Affected By COVID-19?
Stuart Mosley No Comments

The current situation with COVID-19 has affected the way that many firms are delivering their services and the Student Loans Company (SLC) has also been affected.

Although Student Loans Company has been working hard to provide a quality service to those that require term payments and repayments, such as universities and colleges, the student finance service has temporarily closed their customer contact service to existing and new students.

With the contact centres closing, this will not affect the summer term payments to students or tuition fees for education providers and they will continue normally. Applications for student finance are still open to existing and new students in England and Wales and they will be processed as quickly as possible.

 

Frequently Asked Questions

Will I still receive my next student finance payment? – Student Loans Company had said that students will receive their scheduled or upcoming instalment of their maintenance loan at the start of the summer term. This is regardless of whether the education provider has made alternative arrangements for teaching.

Am I still able to apply for student finance? – Those that are studying or are starting an undergraduate course after 1st August, they can apply for student finance online as normal.

Will student loan repayments still be taken if I am unable to work due to COVID-19? – Student loan repayments will only be made if you are earning above a certain threshold for your repayment plan. If you are unable to work and your income is below the threshold, then that means your repayments will also stop.

For more information about repaying your student loans, please read here.

 

About Stuart Mosley

Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander.  He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.

If you would like to book an appointment then please get in touch and we can arrange a suitable time to discuss further.  We can arrange appointments at a place and time suitable to you, we can discuss your options over the phone or if you prefer email, then this is fine with us.