Uni loans lost

The centralisation of student loans this year has left many students in the dark about the status of their applications, with funding arriving later than expected.

Tens of thousands have been left stranded, still waiting for their loans to come through and not knowing if they will have enough money to live on during the year. While the chief executive the Student Loans Company has apologised to those put out by the massive delays, this has been little comfort to students.

The Student Loans Company has taken over all student loans in the UK this year. Previously they were handled by local loan offices.

Many applicants had to reapply because, during the changeovers from local offices to this centralised body, letters and forms had simply been lost.

Sophie Shanahan, a third year Classics and Philosophy student, applied for her student loan as soon as she received a letter back in the spring. But the company lost her application.

She said, “They lost it because of the transfer, and now it’s going to be late.”

“It’s unfair that I’m grouped with people who left it until the last minute, when I did it so early.”

Some universities are responding by offering more support to their students. Warwick offers guidelines for struggling students on the website. Students who have not received their loan by October 8th are able to email Student Funding if they need emergency help or are unable to pay their accommodation fees.

The Website states, “The University will do everything it can to assist you under such circumstances, but can only do so if you contact us.”

However, it remains unclear exactly how many students will be affected by the mix-up. Many will still receive their loans on time.

“My loan came in just on time,” said Julian Williams, a final year student. “Most people I’ve spoken to have got their loans today.”

Kelly Parkes-Harrison, Press Officer for the University, said, “We will not have a clear idea of how the situation this year compares to previous years until all the students have arrived on campus.”

The percentage of students applying for loans has risen by sixteen per cent, more than the ten per cent increase in university applications, probably as a result of the credit crunch. The Student Loans Company received over 1 million applications for funding this year.