Student Loan Expected Time

[Mikey]

Hi there,

I'm back at college on Tuesday and I'm expecting student loan today (Monday), just wondering if people know from past experience what time student loan money is put into your bank account. It gets paid by Student Loans Company so it should be the same for Scotland and England or w/e.

Thanks! :¬:

[FlyingJesus]

Whoaaa starting well early, student loan payments don't go in until like mid september at the earliest generally

[Mikey]

Didn't really make it clear, in Scotland we get our student loan when the college officially starts back. I was wondering like the actual time of day, sorry!

FlyingJesus

[FlyingJesus]

Oh that's not the same at all then, in England they give you the payments whenever they feel like it and just tell you to suck it up if they're late sorting you out :P

If you have a fixed date that you're supposed to receive it, your bank ought to register it and have the funds available right away even if it takes a while to "clear", although that shouldn't happen unless you get paid by cheque. I imagine it would be done by an automated service, in which case it's likely to be there just after the stroke of midnight on the specified day, assuming they actually do send it on the right date

[Mikey]

Alright thanks FlyingJesus. It's a automated system so it should have been in there at 12 but I think you need your student loan form stamped before you get it paid at our college. Weridd :P