How to make an appeal expandable section
If your application is declined and you believe we haven’t taken into account all of your circ*mstances, you have the right to appeal our decision. You need to submit your appeal within 30 days of the date of the decline letter.
If you do wish to appeal, please let us know if there is any other information you could show us in support of your appeal.
You can call our business management team to make an appeal. If your annual turnover is less than £3 million, call 0345 072 5555. If your turnover is above £3 million, call 0800 022 4378. Lines are open Monday to Friday 8am to 6pm, except on UK bank holidays. Please quote ‘Lending application' if you call us so we can get you to the right team as quickly as possible.
If your circ*mstances have changed, we'd be happy to reassess your application.
You also have the right to appeal if you’re unhappy with the conditions relating to agreed lending, such as the need to provide security, regular financial trading information or up-to-date property valuations.
Appeals can only be submitted before you draw down on the credit facility. You cannot appeal the proposed costs of agreed lending, such as interest rates, fees and costs or the standard terms and conditions, nor appeal after funds have been drawn down.
What is the appeals process? expandable section
You can appeal the decline decision and have it independently reviewed by a specialist in our lending appeals team.
You also have the right to appeal conditions relating to your requested lending, but not the proposed costs of lending, such as interest rates, fees and costs, or the standard terms and conditions.
You can call our business management team to make an appeal. If your annual turnover is less than £3 million, call 0345 072 5555. If your turnover is above £3 million, call 0800 022 4378. Lines are open Monday to Friday 8am to 6pm, except on UK bank holidays. Please quote ‘Lending application' if you call us so we can get you to the right team as quickly as possible.
For which products and circ*mstances can I appeal a decision? expandable section
You can appeal a decision relating to any business borrowing facility such as loans, overdrafts, commercial mortgages, business credit cards, invoice financing, asset finance and trade finance.
You can appeal following any formally declined lending decision. An application is considered formal when we receive the correct information that makes a decision possible.
You can also appeal any of the conditions concerning your lending request, but not the proposed costs of agreed lending such as interest rates, fees and costs, or our standard terms and conditions.
If you submit an appeal relating to lending condition(s), this could delay how long it takes to implement your lending facility; however, we aim to deal with 90 percent of all appeals within 15 days of receipt.
Requesting an appeal does not guarantee that a decline decision will be overturned.
FAQs
What to Do When Financial Aid Isn't Enough
- Apply for Scholarships and Grants.
- Get a Work-Study Job.
- Find A Part-Time Job.
- Take Out Additional Federal Student Loans.
- Apply for Private Student Loans.
Valid reasons for an appeal include:
- medical emergencies.
- severe health issues.
- severe personal or family problems.
- financial or personal catastrophe.
- return for a second degree or certificate.
To appeal for more financial aid for college, follow these steps:
- Call the college financial aid office to ask about the financial aid appeals process. ...
- Identify the special circ*mstances that affect your ability to pay for college. ...
- Write a financial aid appeal letter. ...
- Don't ask for a specific amount of money.
If you've exhausted other options and still need additional funds to help you pay for school, contact your school's financial aid office to find out if you're eligible for additional federal student loans. Just remember to borrow only what you need to pay your educational expenses.
How to get off financial aid suspension? ›
But depending on the reason you lost it, you may have some options available to you:
- Contact your school's financial aid office. Speak with someone about the reasons for your suspension and the steps you'll need to take to get back on track.
- Appeal the suspension. ...
- Improve your grades. ...
- Get out of default. ...
- Be patient.
Federal regulations limit the number of times a student may repeat a course and receive federal financial aid for that course. Generally, you can receive the Federal Pell Grant when repeating the same course up to two times (if you've received a passing grade both times).
What not to say in an appeal letter? ›
Threatening, cajoling, begging, pleading, flattery and making extravagant promises are manipulative and usually ineffective methods. If you give me a chance to continue my studies, I promise to work really hard, get rich, and donate a million dollars to the University....
What is the success rate of financial aid appeals? ›
One-third of aid appeals succeed
Before the pandemic, about one-third of appeals were successful at most schools, said Robert Franek, editor of The Princeton Review. For the 2021-22 school year, he says that number has likely grown. “Schools weathered some hard times in fall of 2020,” he said.
Is it hard to win a financial aid appeal? ›
Appeals aren't always successful —- my success rate for my clients is a little more than 50 percent. But by using these tips, you can increase your chances of success right from the start.
What is the most financial aid will pay? ›
How Much Money Can You Get from the FAFSA?
- Average and maximum financial aid. Type of Aid. Average Amount. Maximum Amount (2024-25) Federal Pell Grant. $4,310. $7,395. ...
- Financial aid recieved. Type of Aid. Average Amount. Percent Receiving. 90th Percentile. Total Federal Student Aid. $9,010 (dependent) ...
- Shop Smarter For College.
Here are some examples of common errors we see when people complete the FAFSA® form:
- Confusing Parent Information With Student Information.
- Entering Info That Doesn't Match Your FSA ID Info.
- Amount of Your Income Tax.
- Parent Information.
- Additional Financial Information.
$57,500 for undergraduates-No more than $23,000 of this amount may be in subsidized loans. $138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.
What disqualifies you from getting financial aid? ›
Not maintaining satisfactory progress at your college or degree program. Not filling out the FAFSA each year you are enrolled in school. Defaulting on a student loan.
What is the maximum Pell Grant per semester? ›
The maximum Pell Grant for the 2022-2023 award year is $6,895 and the maximum Pell Grant award for each term is $3,448. The Expected Family Contribution (EFC) range for Pell Grant full time enrollment eligibility is 0 – $ 6,206.
Can you increase your financial aid? ›
If you need more financial aid, contact your school's financial aid office. Here are other options you can consider if you didn't receive enough financial aid: searching and applying for scholarships. working at an on-campus part-time job.
Why is my FAFSA grant so low? ›
Some of the most common reasons your grant funds may be reduced are: You didn't enroll full time. Pell Grants are prorated for part-time enrollment, You didn't begin attending all of your classes before the financial aid lock date.
Why is FAFSA not giving me money? ›
For instance, you might no longer meet one of the basic eligibility criteria, or you might have changed majors and no longer be enrolled in a program that makes you eligible to receive a specific type of funding (for instance, a Teacher Education Assistance for College and Higher Education [TEACH] Grant).
What is considered poor for FAFSA? ›
There is no set income limit for eligibility to qualify for financial aid through. You'll need to fill out the FAFSA every year to see what you qualify for at your college. It's important to make sure you fill out the FAFSA as quickly as possible once it opens for the following school year.
