As many of you will know, Student Finance have a bad reputation. When I first applied for student finance in 2011, a few people warned me that they are inefficient. Now after applying for finance for my second year, inefficient doesn’t cut it.
Student finance have to process hundreds of thousands of applications, so surely they need a highly effective system? From my own experience and of many other students I know, this is not the case. I was pleasantly surprised when my three payments for the last academic year came in 2 days before they were meant to. However, that is the extent of the pleasantries. This summer, I have been on the phone to them almost each week sorting out the same problems which keep on remaining unresolved, which for the record, have been out of my control. Each time they seem to be resolved, I receive yet another letter destroying those hopes. Today, they may have finally sorted out the problem, but I cannot be 100% sure.
Each time I call, they try and sort out the problem in the same way or blame it on others. It’s madness; doing the same thing over and over and expecting a different result.
One of the most fundamental areas in business that Student Finance need to improve is communication. It could significantly enhance the application process and cut out some of the errors made. The fact that they are owned by the government, but also the volume of students they have to cater for makes it very difficult to improve the logistics, but it is possible.
They just need to want to improve.