CORRUPT Student Finance Data Leaves Many Without Cash

Bad news for some students as loans haven’t been paid.

Hundreds of students have been left without maintenance loans after technical problems have prevented the release of student finance awards on their scheduled date. Student data that was sent to the Loans Company from the Uni reportedly arrived corrupt and that students may have to wait up to 10 DAYS for their loan.

In a statement released on Friday, Southampton’s Student Services Centre cited system failures at the Loans Company as the reason for the delay. But when The Tab contacted Student Services, they confirmed that payments are unable to be released because of an error whereby files sent from Southampton University confirming students’ attendance in the coming year arrived at Student Finance corrupted.

The bad news comes at a time when new students will be eager to do their first big shop and returning students will need to pay their rent to avoid falling in to arrears, but Student Services claimed that the earliest possible date that overdue loans will arrive is Tuesday, although their staff are working hard to rectify the problem.

This is a cause for concern as many second and third years owe rent on the first day of the month, which falls on the Monday.

One second year oceanography student told the Soton Tab:

It’s ridiculous that loan payments STILL haven’t come in… me and a few of my housemates can’t pay for next month’s rent so we had to ask my landlord to postpone our standing order whilst we wait.

Becky Beasley, a second year geography student also said:

My loan still hasn’t come through yet and I have to pay nearly £300 by Monday for a field trip, as well as the rent for my house. I’m not sure how I’ll be able to pay for those.

Fortunately, Student Services are offering emergency financial assistance to students who may be adversely affected by the delay. The University’s emergency loan scheme will be extended to ensure that students will have funds to live on. However, the unnecessary error has doubtlessly added stress to one of the busiest and hectic times of the year for students.

SUSU’s President, Sam Ling, told us:

In order to support these students, we’ve worked with the University to implement an extension of the emergency loan system the university puts in place for students who are in emergency situations financially.

This is aimed at ensuring these delays do not mean that students can’t eat/survive.

Sam also mentioned that the University is putting pressure on the Loans Company to speed up proceedings.

Have you been affected by the late loan payments? Email [email protected] with your story.