As a result of human error, over 100 UK students have been left without their loan payment, leading to gross financial trouble.
The Student Loans Company (SLC) are in the headlines again after many postgraduate students have been left struggling to fund their courses as a result of having their promised loans withdrawn.
Apparent confusion over the eligibility of students for the new £10,000 graduate loan from Student Finance England has meant that some postgrads have had to leave their course early.
To be eligible to receive the loan, you must have lived in England for the past 3 years for reasons other than study, which causes confusion for Welsh, Scottish and Northern Irish students who have completed a bachelors in England and wish to stay for further study.
EU students from outside the UK, however, are eligible for the loan if they have lived in the European Economic Area for the past three years.
According to the Guardian, Hannah Collis, from Wales, who was due to study an MSc at King’s had her loan offer withdrawn not only after having started the course, but also having paid the first installment of course fees (£3,000). SLC England neglected to inform her of her loan withdrawal beforehand, however, she did receive an apology and £200. Generous right?
The Guardian continued to report that a spokesperson for the SLC says that 108 students have been affected as “a result of human error in the interpretation of the regulations when processing these applications”.
“To be eligible to receive a postgraduate loan from the scheme provided by Student Finance England students must have been ordinarily resident in the UK and islands for three years prior to the start of their course and most recently in England, for reasons other than the purpose of study. If a student believes that the decision Student Finance England made in relation to their funding application is incorrect, they have the right to appeal.”