Mastering Student Finance

So, you’ve applied via UCAS, got your offers back and chosen a firm and insurance choice. The next thing to do is apply for student finance. This can seem like a daunting task. It really isn't as scary as it seems but since it's completely unfamiliar, it can be easy to get flustered or frustrated. To help, I’ve written a few tips to help get you through the process and hopefully make it easier for you.

Firstly, if representatives for student finance visit your school for an evening to provide information, I highly recommend that you attend. They will explain the process, the repayment and give you a list of useful links that will come in handy when you come to apply. 

When applications for your academic year become available, the best thing to do is to apply as soon as possible. The sooner you apply, the less chance you will have of problems delaying you receiving the money in September. You don’t need a confirmed place to apply (I had two conditional offers and I applied) so there is no reason to delay.

It’s best to have everything you need with you so that you can get your part of the application out of the way as quickly as you can. You will need:

• National Insurance Card
• University Details (Course code etc.) or UCAS log in details
• Passport
• Bank Details
• Course start date
• Your parents! (They have their own section to complete)

When your parents fill out the support for your application, they will need certain documents. I would say it’s best to ask them to get their documents ready as early as possible. My parents had to ask for some financial documents from work and it took two or so weeks for them to receive them, which delayed my application from being processed. Your parents will need:

• P60s, pay slips and financial documents from the previous financial year (for example, for a 2012/13 application we were asked to send information from the financial year 2010/11).

When you create an account, they will give you a reference number. Make sure you write it down! You need this number and will have to use it every time you want to log in and you will need to quote it if you need to ring Student Finance about anything. You should write down your password and secret answer as well; you have to enter all three when you log in. Another good reason to write these down (and to put them in a safe place!) is you will need them to log in when you reapply for your student finance next year. I am in my first year of University and have just finished my application for my finance next year. They asked for my reference number, password and secret answer again so it's definitely handy to have it written down!

The application takes a good hour to do (or a bit longer if you’re having trouble) so make sure you leave yourself enough time. You should not try to rush this or do it quickly. This is an incredibly important application and mistakes take time to rectify. I tried to answer questions I deemed boring quickly and almost created a Parent/Guardian account for myself. Not a good idea.

During the application, you will be asked to enter your University and course information. You can do this yourself but a much easier way (and the way I would personally recommend) is to link with your UCAS account. This isn’t complicated so don’t panic! There will be a UCAS button (or something to that effect) for you to click and when you do, a new window will open. It will ask you to log in to your UCAS account and will then copy all of the information of your choices onto your application. It is a very easy method and saves you a bit of time and effort. It also greatly reduces the chance of mistakes.

At some point in the application, it will ask you for the address you will be living at in University. If you haven’t applied for accommodation or heard back about your accommodation, don’t worry! I hadn’t applied for accommodation either and I panicked when it asked for my term time address. Luckily, you can use your current address and change it once you know your term time address. 

Once you have finished answering questions and inputing information, you will reach the “evidence” page. This is the last bit of the online application. Student Finance will ask you for evidence to be sent off that can confirm your date of birth, identity and place of birth. You can do this with your passport. If you don't have a passport, you can use your national identity card but you may be required to send additional evidence.

When you specify which piece of evidence you will be supplying, a new window will open containing a cover letter. You need to print this off because you have to send your evidence off with this letter. 

Your parents also need to supply evidence to support your application. The accepted pieces of evidence are: original P60s, pay slips or other financial evidence. Your parents will also have to print the provided cover letter. This was where we met our biggest problem when I was applying. When I tried to print my parents’ cover letter, an error page would appear and it wouldn’t print. If this happens to you, don’t worry! We rang Student Finance and they told us to write our own cover letter. As long as you briefly explain what it is for (i.e. Evidence to Support a 2012/13 application for [YOUR REF NUMBER]) and include their reference number as well, you can send that. This will also work if your own cover letter doesn't print. 

Take all of your evidence and your cover letters to your local one stop shop. They will then copy everything and send it to Student Finance. As long as everything works out well, you will receive a letter that will tell you all about the money you will receive and how you will be expected to repay it. You have to send a reply slip to confirm you have received the letter and then that’s it! You’ve successfully applied for student finance! You should pat yourself on the back, grab a drink or buy yourself something nice. You deserve it! 

GENERAL TIPS

1. Make sure you read the questions properly. I know this is overused advice but it is essential here. You need to make sure that your answers are correct and that you haven’t missed any out. 
2. Do not apply for the wrong year. This may seem like stupid advice but there might be two or more application options when you first sign up and it is essential that you click your academic year. 
3. Do not miss the deadline. There is a deadline for applying and you must not miss this. Check the dates on the Student Finance website so you know when to apply/when you need to have applied by. 
4. Do not panic. If you’re having trouble, don’t panic! It can be tricky and awful but it’s something that needs to be done. The best thing to do is to ring Student Finance. They are super friendly and more than willing to help you out.