Students plan to leave it late to apply for Student Finance

The Student loan company (SLC) is urging prospective students to submit their finance application now, as new research suggest almost half aren’t planning to apply until later in the year

The student finance application service for the 2024/2025 academic year opened earlier this month and research commissioned by SLC has revealed that 48% of students are not planning on applying right away. When asked when they plan to apply for student finance, 27% of prospective students said they may wait to apply until their course is confirmed, 11% may apply in a couple of months’ time, 5% may wait until their course starts and 5% are not sure when they should apply.   

However, SLC is reminding students that it’s vital to apply as early as possible, as the application process can take around six to eight weeks to complete. Students don’t need to have a confirmed place on a course at university or college to make their application, as their course details can be updated later. And if applications are submitted by 17 May, SLC guarantees their student finance will be in place for the start of the academic year.

Aston spoke to Jonathan Newby from Student Loan Company.

Photo by Colin Watts on Unsplash