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Students across the University have suffered a difficult start to the new academic year due to late payments of their student loans, forcing many to delay payments of residence fees, or finding a shortfall in funds to cover living expenses.
The Student Loans Company (SLC) have been unable to explain for the escalating problems. Students have been told that there is no obvious reason for the delays. Further inquiries have revealed that some loans have been ‘stuck’ between Local Education Authorities (LEAs) and the SLC, preventing the company from transferring money into students’ accounts.
Those affected seem mostly to be those who applied for loans online. According to an SLC representative, some loan applications completed online had been “lost then rediscovered,” a problem that is likely to have delayed loan payments.
In addition to preventing rent payments and paying the host of other bills due at the start of the academic year, the delays in loan payments have left many students without the funds to cover day-to-day living expenses. Students who are having problems due to the delay of their maintenance loan have been advised to to contact the LUSU Advice Centre or Student Support in University House. Both financial aid and help in negotiating with the SLC is available.