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How do payments with Student Finance work?
How do payments with Student Finance work?
Anna Smithson avatar
Written by Anna Smithson
Updated over a week ago

Parents who are in full-time higher education may be eligible for a Childcare Grant that can be used to partially pay for their childcare. This will cover 85% of their cost, up to a cap of £188.90 per week for 1 child, or £323.85 a week for 2 or more children in the 23/24 academic year.

Childcare Grant Account

Tiney will create an account for each provider who has a family using the Childcare Grant with them - providers do not need to make this themselves.

The account will have a CCG Reference number that is unique for each provider. This will be shared with the guardian in their contract.

Guardians must link their children to their provider's account, using the CCG reference number. Tiney will then be able to make requests for each child's weekly fees, in arrears of care.

Guardians may need to relink their child at the start of a new academic year or term - tiney will contact the guardian or provider if we see a child is not linked, as we will be unable to process requests for payments.

Student Finance Payment Cycle

Fees are requested on a weekly basis, weekly in arrears of care. For example, for all care that takes place between Monday 04/09 and Sunday 10/09, the total cost of that week's care will be requested by tiney through the Student Finance portal at the earliest from Monday 11/09.

The guardian is alerted to the request, and can approve it from their portal. Student Finance will then release up to 85% up to the weekly cap, and the guardian will see the amount paid by Student Finance and the amount still to be paid by them.

The payments are received on Tuesdays or Thursdays, depending on when the request is approved by the guardian.

Invoices in the tiney wallet

Invoices will be created for the total weekly cost of care, from Monday to Sunday - e.g. from 04/09 to 10/09. The due date will be set to the Monday of that week, in this example at 04/09. The earliest these fees for care for care week commencing 04/09 can be requested is Monday 11/09. This will be displayed on the invoice:

The invoice will show in draft status in the wallet - this cannot be marked as open or sent to parents, as it will be requested through Student Finance.

Please message tiney through the app if any changes are needed for a week's care.

It is advisable to send these changes before the Friday they're due to be requested (in this example 08/09), so we can update the invoice and total amount to request before it's requested on 11/09.

Once the payment is received from Student Finance, the invoice will be amended to show the amount not paid by Student Finance. This amount difference will be invoiced to the parent to be paid by card.

For example:

  • The weekly cost of care for w/c 04/09 is £100 - an invoice will be made at £100, with a due date of 04/09.

  • This will be requested through Student Finance on 11/09.

  • When the parent approves this, 85% at £85 will be released by Student Finance.

  • The earliest this will be received is Thursday 14/09, based on their payment cycle.

  • The invoice of £100 will be updated to £85, and the funds will be added to the wallet.

  • The balance of £15 will be invoiced to the parent to pay by card.

This will show as two invoices that make up the total weekly cost of care at £100:

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