Frequently Asked Questions
Welcome to the Student Finance Frequently Asked Questions page. A number of the common questions are covered below but if you still can't find the answer to your query please contact us.
How do I pay?
Fees can be paid by cheque, direct debit, bankers draft, bank transfer, credit/debit card or cash.
The following charges apply:
Payment of cheque or debit card will incur no charge, unless your cheque is unpaid, in which case you will incur a £25 penalty.
Payment by direct debit will incur no charge, unless a direct debit instalment is refused. You will incur a £25 penalty if you have insufficient funds in your account to cover your termly instalment, or you change your bank details without notifying the University in advance of the direct debit collection date.
Cash payments of more than £5,000 must be accompanied by some form of identification, such as your passport. Failure to provide this identification will mean that the cash will not be accepted.
Interest at 5% may be levied on any accommodation instalment which remains unpaid after the due date, unless you have made previous contact with the Income Section of the Finance Office to agree a mutually suitable alternative arrangement. Furthermore, if you are in debt to the University, you may be excluded from tuition and assessment and/or rejected from your University residence.
Are there penalties for late payment or payment failures?
The Academic Registrar may terminate the studies of a taught student if:
- The student has not been permitted to register on the next part of their programme or to be awarded a degree under the provisions of paragraph 9 hereof or to register on modules in accordance with paragraph 10 hereof, and has not subsequently paid their tuition fees in full by 31 July in the academic year following that in which the fees were incurred.
- The Academic Registrar shall ensure that notification of termination of studies under the provisions of paragraph 12 hereof is sent to the student’s last known permanent address.
- Taught students whose studies have been terminated under the provisions of paragraph 12 hereof will not be eligible for any further assessment under any circumstances, but may be eligible for an award based on the Module Marks already obtained if all tuition fee payments are made at a later date, subject to the provisions of Regulation XX, Regulation XXI or the General Regulations for Introductory Studies.
If I encounter financial hardship, can you help?
If you anticipate any difficulty paying your tuition or hall fees, please visit the Finance Office in the Rutland Building as soon as possible.
The Finance Office staff will be happy to advise you of your options, depending on your particular circumstances. The University is keen to ensure that students are fully aware of the options available, in order to minimise financial worry and difficulty.
What is the Financial Payment Options Form?
This form outlines the methods of payment for your fees and the dates when payments are expected. This form must be returned before the end of the second week of the first term of the academic year for those students wishing to pay their fees by direct debit only.
Can I mix payment methods?
No, you must make a choice between methods of payment and that will continue for the academic year. You may change your preferred method of payment for year 2 etc.
Will I get an invoice?
Invoices are not sent for tuition, accommodation or ancillary charges but notification of billings are forwarded to the Loughborough student email account and regular statement of accounts are sent, usually monthly during term time.
If I choose to pay by direct debit, can the dates be changed if my money is going to be received late into my bank account?
The dates are fixed and no change can be made. You must ensure sufficient cleared funds are in your bank account before the payment dates quoted on the Financial Payment Options Form.
How will I know the amount to be taken from my bank account if I choose to pay by direct debit?
The University will contact you in advance of the first payment date to advise you of the amounts and confirm the dates we will take money from your account. These dates are printed on the Financial Payment Options Form.
I have elected to pay by direct debit but have received an invoice, is this correct?
Yes, but if you have chosen to pay by direct debit you should not pay the statement value. It is for information purposes only and should be perused to ensure all is in order. Fines, field trips, materials charge etc. are not included on direct debits and should be paid for by cheque, card or cash.
Do I have to set up a new direct debit or will my old one continue?
Unless we hear from you, your direct debit will continue for the new academic year. However, if the gap between two payment transactions is more than 12 months the mandate becomes in-active and it will need to be reinstated.
Can I pay by direct debit from my overseas bank account?
No, you will need to open a UK bank account that will accept this instruction.
I have a savings account with a UK bank; can I use this to pay by direct debit?
It is very unlikely a UK bank will accept a direct debit payment from a savings or reserve account. We would suggest you check with your bank before returning the instruction to the University to ensure they will be able to process the direct debit.
Is a debit card the same as direct debit?
No, a debit card allows you to take money from your bank account. With a direct debit you give the University a signed instruction to take money from your UK bank account for an amount already advised to you and on a certain future date.
My direct debit payment has been returned by my Bank, will you try to take the payment again from my account?
If the payment has failed, we would ask you to contact Finance Shared Services immediately to arrange payment by an alternative method.
I have been charged £25 by the University for a failed direct debit, can I get this refunded?
There is a real cost to the University in having this payment returned and the £25 charge goes some way towards meeting this cost. If the University has made a mistake we will of course refund the charge.
Will I incur an additional charge if my fees are not paid on time?
No one wants to pay more than they have to, but a surcharge may be applied for the late payment of fees.
What do I do if the Student Finance Company are paying some/all of my tuition fees?
The Student Finance Company will advise the University of the Fees they are paying on your behalf and this will be reflected on the billing. We DO NOT require sight of either the Final Notification or the Payment Schedule.
Why does the statement say my Tuition Fees are payable by me when they will be paid by the Student Loan Company?
If you are a student and have applied to the Student Loan Company (SLC) and received confirmation that this has been granted your tuition fee may still be included on your statement. This is because it can take a while for the SLC records and the University records to be aligned and until the Finance Office has absolute confirmation the records will show the tuition fees as payable by the student. If you have confirmation of your loan from the SLC then you need take no further action and can disregard this part of the statement.
Attendance Confirmation Required?
If the Student Finance Company require confirmation of attendance this process if dealt with by Student Enquiries in the Rutland Building, Tel. 01509 222491.
I have already paid my fees, have you received the money?
If the money is not already on your student account, to enable us to trace the payment we need to know the date the payment was made, where the payment was made from, how the payment was made i.e. bank transfer, cheque and the amount remitted.
Has my Sponsor paid my fees?
We will invoice your sponsor based on the information you provide and send a copy invoice to you for your information. It is your responsibility to liaise with your sponsor to ensure all fees are paid as quickly as possible. Sponsor companies are increasingly requesting a purchase order number be quoted on the invoice. Please check with your sponsor to clarify their policy for the payment of invoices to avoid any delays in payment being made to the University.
My sponsor says they have paid my Tuition Fees but they are still showing as outstanding on the statement.
Unfortunately sometimes the University receives payments that do not include the student reference number and so is unable to trace which student the monies should be allocated to. We suggest you contact your sponsor and ask for confirmation of the date and amount of the payment they made. Please forward this information to email@example.com and the finance office will try to locate the payment.
I do not have a UK bank account, can I remit monies from abroad to the University's bank account in excess of the fees due to the University and for you to pay me the excess?
The University does not act as a Bank. Any overpayments made can only be returned to the bank account from which the payment was originally made.
Can I pay my fees online using a debit/credit card?
The University offers an online payment facility through its website which is one of our preferred payment methods. The other being direct debit.
When is my room deposit refunded?
Room deposits will be refunded in the summer term and during the summer vacation. Deposits will not be returned if there are other amounts still outstanding on your account.
How do I get my room deposit back?
You will need to enter your personal UK bank details via the Learn portal. Access is by your student log-on and under Student Resources is the option 'Maintain Student Bank details'. The University uses this bank information for electronic payments and accurate information must be available to enable us to process any money due to you.
Why is my online card payment failing?
See the information in the Online Payments section.