Uni student finance for sep 2020

nasty · 5 Feb 20, 05:12 PM

So the student finance application opens this month I understand.
My son is currently on a gap year and is working full time and therefore has a current account with Santander.

He’s considering opening a student account with nationwide (moneysavingexpert recommended) for the overdraft etc but when we’ve looked at opening this it says not until 5 months before start date, so April at the earliest.

The student finance blogs/videos recommend to start the application process as soon as it opens, ie February, so do we apply with his existing bank account information ? And is there an easy option to change the details of this when he opens his ‘student account’ ? Or should we just wait until April to open new account and then do finance application ?

Thanks

galaxyflorida · 5 Feb 20, 05:29 PM

When you apply for student finance in February your DS can put in his Santander sort code/account number. Most banks don’t allow you to open a student bank account until the place has been confirmed (in most cases, after results day), so when you open a Nationwide/any other bank account it’s easy to change the account details then.

nasty · 5 Feb 20, 05:53 PM

Ahh thanks. His place is confirmed as he’s already got his results.

sammykitten · 5 Feb 20, 08:33 PM

Yep it’s really easy to update student finance if he changes bank account.

Ds4ljs · 5 Feb 20, 11:16 PM

Blimey didn’t realise we had to start this so soon!

macadoo · 5 Feb 20, 11:21 PM

Originally Posted by Ds4ljs

Blimey didn’t realise we had to start this so soon!

You don’t have to, we applied just before the cut off date last year and everything was confirmed not long after.

galaxyflorida · 5 Feb 20, 11:22 PM

Originally Posted by Ds4ljs

Blimey didn’t realise we had to start this so soon!

It opens at the end of February but think the deadline is in May or June to guarantee it’s in place ready for September. Better to start early in case student finance ask for proofs of income etc, which could delay things.

Gryff · 5 Feb 20, 11:31 PM

DIL works for student finance she says apply as soon as possible it's easier to change details than wait to the last minute when they end up dealing with literally hundreds of applications and spend more time answering enquiries about than dealing with applications
She's working up till her due date before she goes on Mat leave to process as many as possible

Ds4ljs · 6 Feb 20, 08:50 AM

Great thanks everyone. Will get on it!