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Subject:

Re: Student Loan Payment Dates

From:

Roger Clark <[log in to unmask]>

Reply-To:

Admin-student <[log in to unmask]>

Date:

Thu, 2 May 2002 14:53:51 +0100

Content-Type:

text/plain

Parts/Attachments:

Parts/Attachments

text/plain (127 lines)

This is simply what I have been told by our local campus bank (Lloyds), and
also by the SLC and DfES. It is said to arise from the fact that banks have
gone over to automated systems which do not allow branch managers the kind
of discretion they used to have.  If anyone knows different, please let me
know

Roger Clark
Academic Registrar
University of Reading



> -----Original Message-----
> From: Admin-student [mailto:[log in to unmask]]On Behalf Of
> Jayne Aldridge
> Sent: 02 May 2002 9:50 AM
> To: [log in to unmask]
> Subject: Re: Student Loan Payment Dates
>
>
> Roger,
> It would be useful if you would let me know which banks are no longer
> allowing students access to some overdraft facility [often acting as a
> buffer] unitil the students chq has cleared as it has been my
> experience that the banks WILL give access to some facility but
> obviously not the maximum o/d available for that year.
> Many thanks,
>
> Jayne Aldridge
> On Thu, 2 May 2002 08:55:35 +0100 Roger Clark
> <[log in to unmask]> wrote:
>
> > Sybil
> >
> > I have no feedback on the summer 2003 payment date.
> >
> > On the proposal to pay loan first installments by BACS, the SLC
> has set up a
> > second larger pilot this autumn to test the process under which
> HEIs will
> > notify the SLC of registration by students who have applied for
> loans, which
> > will trigger the release of a BACS payment to the student's
> account. Given
> > the change by most banks in recent years under which they no
> longer allow
> > students to draw cash against uncleared SLC/LEA cheques, this
> should result
> > in money reaching students just as quickly as under the existing
> > arrangements.  My expectation is that while the pilots may
> result in some
> > refinement of the process design, loan first installments will
> be paid by
> > BACS in autumn 2003.
> >
> > I suspect that some institutions will have to re-arrange and possibly
> > sharpen-up their registration arrangements, and for some it may
> be helpful
> > to buy some bar-code readers, but otherwise the new
> arrangements are likely
> > to be financially neutral for HEIs. We may have to mobilise
> more staff for
> > registration, but we will save staff time on checking and
> handling cheques
> > and giving them out.
> >
> > Roger Clark
> > Academic Registrar
> > University of Reading
> >
> > > -----Original Message-----
> > > From: Admin-student [mailto:[log in to unmask]]On Behalf Of
> > > Sybil Green
> > > Sent: 02 May 2002 9:25 AM
> > > To: [log in to unmask]
> > > Subject: Student Loan Payment Dates
> > >
> > >
> > > There was considerable discussion on both lists last November on
> > > Student Loan payment dates and a number of us e-mailed Yvonne Clarke
> > > of the DfES to give our views.  I know also that Jayne Aldridge was
> > > collating info.
> > >
> > > Since then - no feedback.  I've telephoned Yvonne who has promised to
> > > get back to me.
> > >
> > > I am particularly concerned as expressed in my original e-mail
> > > because of the late Easter next year and our third "term" beginning
> > > on 5 May 2003 (with the session ending on 13 June 2003).  This means
> > > that students will receive their 3rd instalment very late for a
> > > disproportionately short period!
> > >
> > > Has anyone heard anything definitive please?  Also, re issue 39 (Dec
> > > 01) of Student Support Update "Important news about the future
> > > payment of student loans" - "We are actively considering making all
> > > loan payments by BACS from 2002/03 onwards".  Could someone please
> > > enlighten me as to the outcome of the active consideration?
> > >
> > > Many thanks
> > >
> > > Sybil Green------------------------------------
> > >
> > >
> > > Sybil Green
> > > Head of Student Advisory Service
> > > Cardiff University
> > > +44(0)29 2087 4179
> > > [log in to unmask]
> > >
>
> Jayne Aldridge
> Chairperson
> NASMA
>
> Tel:    + 44 (0)20 8231 2508
> Fax:    + 44 (0)20 8231 2587
> Email:  [log in to unmask]
>
> Confidentiality Clause
>
> The confidentiality of this e-mail cannot be guaranteed. It
> is intended solely for the addressee. Access to this e-mail
> by anyone else is unauthorised.  If you are not the intended
> recipient, any disclosure, copying, distribution or any action
> taken, or omitted to be taken, in reliance on it is prohibited
> and may be unlawful.
>

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