Always wanted to go to university but worried your family can’t afford the cost of tuition fees and student accommodation?
Many students are in the same boat. But student loans allow you to borrow money that can go towards your education and living costs – easing the financial burden of studying at university. It’s also worth bearing in mind that you might get extra funding if you’re on a low income, are disabled, or have dependents.
Here the team at Orlando Village explain everything you need to know about applying for student finance in 2021/22.
Eligibility
Whether you qualify for student finance depends on:
- your university
- your course
- if you’ve studied a higher education course before
- your age
- your nationality or residency status
Another thing to consider is whether your course is full-time or part-time. If you’re studying part-time, your course needs a ‘course intensity’ of 25% or more for you to qualify for a tuition fee loan and/or maintenance loan.
From undergraduate funding to postgraduate funding, disabled students’ allowance (DSA), and dependents’ grants, there are lots of different loans and grants available in the UK. Click here to use the student finance calculator and find out which you could be eligible for.
Deadlines
You don’t need a confirmed place to apply for student finance, and you can apply online up to 9 months after the first day of the academic year for your course.
For instance, if your course starts between 1st August and 31st December 2021, you must have applied by 31st May 2022.
However, much like our student accommodation in Bolton, you want to apply for student finance as soon as possible to ensure your funding is in place before you start your course.
You’ll only start repaying your loan once you earn over a certain amount, and the size of your monthly repayments will depend on your salary, not what you owe.
Providing evidence
When you apply for a student loan, you may need to provide evidence to confirm your identity.
You will need to complete the form with your valid UK passport details. You don’t need to send the passport itself. If you don’t have a valid UK passport, you will need to provide an original UK birth or adoption certificate (short and long versions are acceptable) or a certificate of Naturalisation/Registration.
For EU or EEA national students, send your non-UK passport, national ID card, or ROI passport card.
Paper ID cards and driving licenses are not accepted as proof of identity.
If you’re applying for funding for the first time, you’ve applied previously but somebody new is supporting your application, or your parent(s) or partner’s income doesn’t match HMRC’s records, they will be asked to prove their household income and marital status.
Any digital copies of financial evidence are acceptable, providing they are clear and readable. This could be anything from a P60 or P45 to a self-assessment tax return, a letter from an accountant on headed paper that’s signed and dated, or a letter from Jobcentre Plus verifying total taxable benefits received.
Updating personal details
Should your circumstances change whilst studying at university, you must update your application accordingly.
You can change your contact details online at any time during the academic year – be it your home address, email address, or telephone number.
To change your name or title, you will need to provide a covering letter to outline your reasons for your name change, along with a photocopy of your birth certificate, marriage certificate, decree absolute, decree nisi, Change of Name Deed (COND), or statutory declaration.
If you need to update your bank details, log into your online account. Remember payments can only be made to a UK bank or building society, and the account must be in your name.
Yet to secure student accommodation for the 2021/22 academic year?
Orlando Village provides some of the best student accommodation Bolton has to offer. All our rooms are stylish, modern, and equipped with basic amenities, and prices start from as little as £99 per week!
Although places are filling up fast, we still have some availability left – so don’t delay. Arrange a viewing today – either in-person or virtually – and take advantage of our competitive prices.
To find out more about our student accommodation in Bolton, or for information about the application process for student loans, give us a call on 01204 903 488.
