Student Loans Company is opening applications for tuition and living loans for students starting university in September 2022

Youngsters going to university later this year can now apply for their student loan.

According to The Student Loans Company, full-time students in England can now start their applications for the 2022/23 academic year.

Students in England can apply for Tuition Loans to cover their fees and Living Loans to cover their living expenses.

Student loans have made headlines in recent weeks because the government has proposed changing the way graduates pay off their loans while introducing stricter qualification rules.

Under the reforms, student loans will be repaid over 40 years instead of 30, increasing the number of those who will pay back what they borrowed in full, while for those starting studies in 2023 the repayment threshold will be £25,000 instead of slightly more being lowered than £27,000.

The government is also launching consultations on other changes, including introducing an eligibility criterion for receiving a student loan, which could include students who need a 4th grade pass in GCSE mathematics and English to be able to borrow money for their university education , and also a “loan eligibility for life” so that students of all ages can take out a loan for their studies.

Despite the changes ahead and disruption to teens’ education as a result of the two-year pandemic, the Student Loans Company (SCL) expects about 1.5 million full-time students to apply for financial aid this year.

And the advice is to submit those applications early.

The deadline for new students is May 20 — and June 24 for those returning to campus — but applying well in advance of the application deadline will ensure all finance is in place before the semester begins.

Even if teens aren’t sure which course they’re taking or which university they’re likely to attend, SLC says families now need to start applying regardless because the application can take six to eight weeks to process.

Chris Larmer, SLC’s Executive Director of Business Operations, said: “SLC exists to give students the opportunity to invest in their future by giving them access to further and higher education and having their finances firmly in place by the start of the semester. So we encourage you to apply for your student finance now.

“We want to make it as easy as possible for students to access student finance and to support them there are resources available online and you can follow Student Finance England (SFE) on Facebook, Twitter and Instagram for the latest updates on student finance to obtain. We’ve also made it easier for students to check the status of their application with the new application status tracker in their SFE online account, and applicants can rest assured that we’ll contact them via SMS or email if we have any further information need support your application.”

To help students and their families apply for funding seamlessly, SLC has put together the following seven tips for creating an application.

1. Apply early

Apply as early as possible to ensure your finances are in place before college begins, SLC says. The application deadline for first-year students is May 20, 2022. Even if you don’t know what degree you’re pursuing, you should apply now with your preferred choice and update your application later if necessary.

2. Don’t call us – we’ll get back to you!

Keep in mind that it can take six to eight weeks to process an application. During this time, you do not need to contact SLC to verify your application status. Instead, you can use the application tracker in your SFE online account to keep up to date with the progress of your application. You will be notified if there are any outstanding actions to be taken. So make sure your email address and phone number are up to date in your online account!

3. Can you find the answer online?

Take advantage of all the information and resources available online here. These are regularly updated for students and their parents as they progress through the application process. Students should also follow Student Finance England (SFE) on social media to keep up to date with the latest information.

4. Be aware of how much funding you may be entitled to

You can apply for tuition loans to cover your tuition and living loans to cover living expenses. There is a student finance calculator online to get an estimate of how much you might be entitled to here

5. Have all important documents ready

Have your social security number and UK passport details ready before you start the application as you will be asked for this information when you apply.

6. Provide supporting evidence online

Don’t forget to submit the required supporting documents. All proof except some IDs or Proof of Residence can be submitted digitally through your SFE online account.

7. Check if you are eligible for additional support

There may be situations where you can access extra money, such as if you have a disability, have children, or are pursuing a medical, social work, or teaching degree. Learn more about what’s available here.