You will receive an email at your LSE email address when your cheque is ready for collection. You can also see your cheque on your fees page of LSE for YOU as transaction type USL_CHQ

When we initiate disbursement, if there is anything which blocks yours, we will immediately contact you by email and tell you what to do. Make sure that the email address LSE has for you is current.

If you did not get your complete application pack to LSE before 1st September, your loans may not be available until the end of October.

If your loan disbursement is not enough to cover one third of your tuition and one third of your LSE hall fee, then there may not be a cheque for you to collect.

How to collect your cheque

Your cheque will be in £Sterling, no exceptions. You must be enrolled. When you have registered, and either received an email saying your cheque is ready or you see your cheque on LSEforYOU, you can go to the Student Services Centre to collect your cheque. You must bring your LSE student card with you.

Staff are not allowed to release your cheque if you do not have your LSE card with you. No exceptions.

If your cheque is not showing on LSEforYOU, then your money is not received - check your email

What to do with your cheque

You must bank the cheque which takes 3 days to "clear" before you can start to spend it. It takes up to 10 days to open a bank account in the UK before you can bank the cheque. You can't start to open an account until you are registered and have a proved address.

How much money you will get and in which currency

You will only get one third of your loans each term and there are deductions taken from that value.

The government deducts an 'Origination Fee' from each disbursement. The spreadsheet you completed at application showed how much you can borrow and how much you actually receive after the government deducts an 'Origination Fee' from each loan disbursement. The value you are going to receive is shown on the letter sent to you by LSE when we originated your loan.

The money is transferred to the UK and converted into £sterling. The school is not allowed to charge any fee or receive any commission for processing your loan., so the money received by you is exactly what the school received in £sterling.

LSE will deduct one third of the tuition fee and one third of any LSE hall fees, as known at the time. This can be slightly inaccurate at Registration time, we will explain this better at the Loan Orientation meetings and what to do if our deductions prove inaccurate.

The balance is paid to you by £sterling cheque

If the value of your disbursement does not cover all the deductions, you will not receive a cheque. If have only applied for Sub/Unsub loans, it is unlikely that you will receive a cheque but will have to pay the shortfall in tuition and halls yourself.

When will you receive your disbursements

You will receive each disbursements in the first week of each term. The dates were in the letter sent to you by the Fes Office for your visa.

All disbursements are subject to the following conditions

You are making satisfactory academic progress
You are enrolled at least part time
You are not in USA
Your have not violated any federal compliance regulations (repayment default, fraud, drugs,

You will be advised by email that a disbursement is due and its value and how much is due to be deducted from it. When you receive this email, you may contact us to reduce or cancel the disbursement.

WARNING - if you don't warn us in advance not to draw down your disbursement, then you will be responsible for all interest charges and for its repayment.

Deferments

If you have previous loans which need repayment deferment, then you will need to request a deferment form from the Fees Office. This is a mail-merge document which we issue on request and not until after the registration period. - about 3rd week in Octob

We are not able to sign any deferment forms until after you have registered and will not accept any deferment forms to complete.

You must email fees@lse.ac.uk to request a form.

We will advise you by email when it is ready for collection from Student Service Centre, usually about 3-5 working days later.

UK banking

Your cheque is in £sterling and you need to bank it to use for living expenses.

You will have no access to your funds until it 'clears' which is three full days after banking.

You will need a UK bank account which takes about 10 days to open.

Non UK students are generally not profitable to banks, being usually only in the UK for a limited period, and may be a 'high risk' for debt on return to their home countries. Consequently you may be offered limited facilities, and should look around and compare the charges and benefits the banks will offer you.

You cannot start the process until you are actually in London with proof that you are living at that London address which is not a hotel. You also have to be a registered student and carrying your LSE student card and carrying your passport. The process takes about 10 days including checks on individuals and on addresses for the detection of fraud and to prevent the movement of money for illegal activities including terrorism. LSE will not tell you which bank to use.

Your options are:-

Open and use an account with any UK bank

You need to download a certificate from LSE for YOU after you have your London address fixed and entered on the student record system. When the account is open you can bank the cheque, 3 days later you can start to use the money.

Loan Orientations Sessions

You received "Entrance Counselling" when you applied for your loans, however, there are other things you need to know about your loans and about living the student life in London. However, at these loan meetings most of what will be presented is not published including extra foreign school requirements, exchange rate changes, UK banking, loss of loans and ineligibility, deferral on payments of previous loans, getting your deferral forms signed, essential dates, tax returns, planning a budget, big new changes for PhD students

If you have already booked to attend a Fees Orientation session, please cancel that booking and attend one of these instead.