![](\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/07\/dscf5500jpg-JS769717052.jpg\")
<\/p>\nSTUDENTS should have already started receiving their loans for the 2023\/24 academic year.<\/p>\n
University pupils can claim cash to cover the cost of tuition fees.<\/p>\n
<\/p>\n
They can receive a maintenance loan worth up to \u00a313,022 to help with everyday living costs too.<\/p>\n
But when are the payments made?<\/p>\n
These are the dates that should be in your diary, and whether you can still apply for student finance.<\/p>\n
A maintenance loan is paid directly into your bank account at the beginning of each term.<\/p>\n
This means typically you'll receive three payments a year.<\/p>\n
The loan is meant to cover your living costs during your studies and most people use it to help pay for rent.<\/p>\n
You won't need to use this money on your tuition because that is paid for separately.<\/p>\n
How much you're entitled to could be affected by your household income during the application process.<\/p>\n
<\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n <\/span><\/p>\n To find out how much you can borrow, visit the government website.<\/p>\n Depending on your circumstances you could get up to \u00a313,022 for each academic year.<\/p>\n If you are living at home with your parents, the maximum you can get is \u00a38,400 a year.<\/p>\n If you live away from your parents and outside of London, you can get up to \u00a39,978 a year.<\/p>\n If you are living away from home and study in London, you will get up to \u00a313,022.<\/p>\n And if you spend a year of a UK course studying abroad you could get up to \u00a311,427 a year.<\/p>\n Student loans are paid in three instalments, but the exact day you'll receive yours depends on your term start date.<\/p>\n If your course starts in September, you should receive your payments in September, January and April.<\/p>\n That means if you started in September 2023, your second payment should hit your account in January.<\/p>\n The payments are sent by Student Finance Wales, Northern Ireland and England or, if you're in Scotland, the Student Awards Agency Scotland.<\/p>\n Student Finance England (SFE) says it can take up to three days for payments to reach a student\u2019s account, so it's best to make sure you have some money to cover immediate costs like transport and your first rent payment.<\/p>\n Students usually receive a text or email to confirm when they will be paid each instalment.<\/p>\n Once your loan application has been approved, you'll be able to view your student loan payment schedule in your online account.<\/p>\n How much funding you get depends on your individual circumstances – including your parents' income.<\/p>\n Once you\u2019ve logged into your student finance account, you\u2019ll see your "my account" page.<\/p>\n Then you can select "your finance", where you\u2019ll find the option to see your payments.<\/p>\n You should click on "academic year 2023\/2024" under "view your payments".<\/p>\n You'll be able to view your scheduled payment dates, the status of your tuition fee loan and your maintenance loan as well as any grants you'll receive.<\/p>\n You might see your payment status as "awaiting confirmation" or "blocked".<\/p>\n "Awaiting confirmation" means you'll get paid once your university or college has confirmed you\u2019ve registered for your course.<\/p>\n "Blocked" means Student Finance is checking your national insurance number (which can take up to 10 days), your bank details are missing or it needs more evidence from you.<\/p>\n To find out what else you need to do, select "your profile" then scroll down to "your to-do list".<\/p>\n Students can apply online for a loan through the government website.<\/p>\n You can apply up to nine months after the start of the academic year – so usually around May would be the latest.<\/p>\n Students can set up a student finance account online – and will need their National Insurance number, as well as passport and bank details to apply.<\/p>\n You can apply for tuition fee loans and maintenance loans.<\/p>\n Yes, continuing students always have to apply for funding every year.<\/p>\n Paper applications can still be downloaded from the student finance website, but applying online is fast and easier.<\/p>\n Just because your term has started doesn't mean that you can't still apply for student finance.<\/p>\n You can apply up to nine months after the first day of the academic year for your course.<\/p>\n That means if you start your course in September,\u00a0 you can still apply for funding any time before June the following year.<\/p>\n However, if you apply later on, don't expect your payments to come through on the same day as everyone else.<\/p>\n When you start repaying your loan, and how much you have to pay, will depend on which repayment plan you're on.<\/p>\n If you took out a Postgraduate Loan, you'll repay when your income is above \u00a31,750 a month or \u00a321,000 a year (before tax and other deductions).<\/p>\n If a student\u2019s income is more than \u00a31,834 a month (before tax and deductions) or \u00a322,015 a year, People with Plan 5 loans won\u2019t enter repayment before April 2026. When they do they will pay Repayments are taken out from a person's salary at the same time as tax.<\/p>\n Students can also make voluntary repayments through the Student Loans Company (SLC).<\/p>\n However, they should be careful as more than half a million graduates were owed a whopping \u00a328million due to overpayments, research found in 2019.<\/p>\n The Student Loans Company then began trialling automatically refunding people who had overpaid back in 2020.<\/p>\n The amount that a student will pay for their university tuition depends on the institution they study at, and what they study.<\/p>\n Tuition fees are capped at \u00a39,250 for home and EU students.<\/p>\n Interest starts being added to your loan from when you get your first payment.<\/p>\n If you think university isn't for you, here's how you can earn \u00a360,000 without a degree.<\/p>\n And make sure you don't waste your student loan – unlike this student, who blew it on a nose job in Turkey.<\/p>\n And as student loan overpayments hit \u00a318.4million, here's how to check if you're owed a refund.<\/p>\n![](\"https:\/\/www.thesun.co.uk\/wp-content\/uploads\/2023\/10\/2018-uk-five-pound-ten-853415896-1.jpg\")
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How much could I get?<\/h2>\n
What are the maintenance loan payment dates for 2023-24?<\/h2>\n
How to view your payment dates and status<\/h2>\n
How do you apply for a student loan?<\/h2>\n
Do you need to apply for student finance every year?<\/h2>\n
Can I still apply for funding?<\/h2>\n
When does repayment start?<\/h2>\n
Plan One (Loans taken out before September 1, 2012 in England or Wales and any loans taken out in Northern Ireland)<\/h3>\n
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Plan Two (Loans taken out on or after September 1, 2012 in England and Wales)<\/h3>\n
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Plan 4 (Loans taken out in Scotland)<\/h3>\n
they will start repaying their loan the April after leaving their course.
The amount you need to pay back will change on April 6 each year.
Students will stop paying if their income drops below this amount.<\/p>\nPlan 5 (Loans taken out in England from August 31, 2023)<\/h3>\n
when their income is \u00a32,083 a month or \u00a325,000.<\/p>\nHow much are university tuition fees?<\/h2>\n