SLC invites part-time and postgraduate students to apply for student finance
The Student Loans Company (SLC) is asking part-time and postgraduate students in England to apply now for student finance.
The Student Loans Company (SLC) is asking part-time and postgraduate students in England to apply now for student finance.
Part-time students can apply for funding to pay for their tuition fees and some students may also be able to apply for a Maintenance Loan to help with their living costs. Postgraduate students can apply for either a Postgraduate Master’s Loan or a Postgraduate Doctoral Loan to help them with their tuition fees and living costs.
SLC has also opened its Advanced Learner Loan (ALL) service for 2021/22. ALLs are available to further education students and can help cover the costs of a course at a college or training provider in England. They are typically used for short access courses and students can apply for them throughout the year.
Chris Larmer, SLC Executive Director, Operations said: “I’m delighted to announce that the application services for part-time, postgraduate and further education students are now open. Our advice to part-time and postgraduate students in particular is to apply early to ensure funding is in place before the start of term.”
The easiest way for part-time and postgraduate students to apply is online at www.gov.uk/studentfinance and students can do so now even if they don’t have a confirmed place on their course. Applications can take six to eight weeks to process. Students do not need to contact SLC during this time to check on the status of their application. They will be contacted if any additional information is needed.
Advanced Learner Loan students can also apply online but they need to check that their course is eligible for funding and provide a learning and funding information letter beforehand. More information is available at https://www.gov.uk/advanced-learner-loan/how-to-apply
To help part-time, postgraduate and further education students with their applications for funding, SLC has produced the following key facts:
Key facts about funding for part-time students
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Part-time students can apply for Tuition Fee Loans. If your course started on or after 1 August 2018 you can also apply for a Maintenance Loan. Part-time distance learning students are not eligible for Maintenance Loans unless they cannot attend their course in person because of a disability.
- The amount of Maintenance Loan you get depends on; where you live while studying, your household income and your course intensity (we measure this by asking you how many module credits you will study – check with your university or college if you are not sure).
- You need to reapply for funding for each year of your course.
- You start repaying your loan the April after you finish or leave your course or the April four years after the start of your course (even if you are still studying), whichever comes first. You repay 9% of what you earn over the repayment threshold which is currently £27,295 per annum.
- Watch our short film for more information on part time funding:
Introduction to student finance for part-time students.
Key facts about the Postgraduate Master’s/Doctoral Loan
- You can get funding to help with course fees and living costs
- The amount you get is not based on your income or your family’s
- You only need to apply once even if your course is longer than a year. The loan is divided equally across each year of the course.
- You start repaying your Postgraduate Master’s or Doctoral Loan the April after you finish or leave your course.
- You repay 6% of what you earn over the repayment threshold which is currently £21,000 per annum. If you have other student loans you repay these at the same time.
- Students can find out more about the Post Graduate Doctoral and Master’s Loans by watching our short films:
· Postgraduate Doctoral Loan Explained · Postgraduate Master’s Loan Explained
Key facts about Advanced Learner Loans
- If you are 19 or over you can apply for an Advanced Learner Loan to help pay fees charged by colleges and training providers for Level 3- 6 courses.
- You can get up to four ALLs at the same time for courses of the same level
- Your ALL is paid directly to your college or training provider once they have confirmed your attendance on your course
- Your ALL is not based on household income
- You have to repay your ALL but only once you are earning over the repayment threshold which is currently £27,295 per anum
- You can find out more about Advanced Learner Loans by watching our short film: Advanced Learner Loan explained
Students can also stay up to date with all the latest information by following Student Finance England on Facebook, Twitter and Instagram.