As the first month of the 23/24 academic year has come to an end and we head into October, SLC has paid out first term Maintenance Loan instalments totalling £2.3 billion to nearly a million students across the UK.
SLC releases loan payments to students' accounts once they have enrolled or registered with their university or college, and we subsequently receive this confirmation. Students can quickly and easily check the status of their payment by logging into their online account.
Although the majority of students who started in September will have received their first payment, not all of them will have received their full entitlement straight away. Eligible students who applied late will be awarded the minimum Maintenance Loan amount first, followed by a top-up payment if they are entitled to more funding. To speed up this process, students are advised to promptly check their online accounts and send any requested evidence right away. Students who have applied late can find out more information on how to receive their first student finance payment online: How to get your first payment if you're applying late - GOV.UK (www.gov.uk)
For students due to receive their first instalment in October we have we have a useful online payment guide which covers the most common payment questions or they can watch our film to find out more.
In addition to paying out Maintenance Loan payments to the remaining students, this month also marks the payment of our first Tuition Fee Loan instalments to universities and colleges on their behalf. This is a critical part of our work, and key to our vision of enabling student opportunity.
*Please note these are provisional figures. Full year figures are published in SLC's Student Support for Higher Education statistical release, which will be published on 30 November.
