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Maintenance Grant calculation
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# 1
Fred Bear
Old 12-10-2009, 3:21 PM
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Default Maintenance Grant calculation

Does anyone check the amount of grant they have been awarded?

My DD is in year 3 of a 5 year course. According to my calculations she was overpaid 57 in year 1, 111 in year 2 and 577 in year 3. Maybe my calculations are wrong but I'm worried the SLC may ask her to repay a large amount in the future.

Does the SLC have to show their calculation if requested?
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# 2
SaucySecrets
Old 12-10-2009, 5:36 PM
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They could ask her to repay if they realize they have overpaid.
Have you used their calculator to see what it says?
If you have, phone up and ask to know how they calculated it. I'm sure they'd tell you!
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# 3
Oldernotwiser
Old 12-10-2009, 6:10 PM
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Quote:
Originally Posted by SaucySecrets View Post
They could ask her to repay if they realize they have overpaid.
Have you used their calculator to see what it says?
If you have, phone up and ask to know how they calculated it. I'm sure they'd tell you!
I sincerely hope not -unless the student has give permission for this they shouldn't be discussing confidential information with a third party!

I've never heard of anyone being asked to repay some of their loan because it's been miscalculated.

Edit: FB, have you taken into account that this year's student finance isn't being assessed on last year's income?
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# 4
Fred Bear
Old 12-10-2009, 6:15 PM
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Thanks for your help SS. I tried the calculator and it gives a figure of 2906. DD was actually awarded 1767. My own calculation is 1189. Doh! So now I don't know if she has been underpaid or overpaid. They won't speak to me so I will suggest DD contacts them. More wasted time on the phone. I am surprised they don't show their calculations when they make the award. I suppose most people just accept what they are given, trusting that the SLC don't make mistakes.
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# 5
Fred Bear
Old 12-10-2009, 6:22 PM
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ONW, the online calculator asks you to enter your household income for 2007-08 which surely is wrong. So I also entered 2008-2009 which is what I used in the application to SLC. It still returned 2906. I don't know what my income for 2009-10 will be yet.
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# 6
Taiko
Old 13-10-2009, 1:20 AM
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I've a feeling that you're getting yourself completely muddled. Just to break this down for you, and I'll assume your child began in the 07/08 academic year. As such, he would be on the lower thresholds which were just over 39000.

2007/2008 - Max grant = 2765. Grant is reduced by 1 for every complete 6 of gross taxable income between 17,911 and 27,120.

It is also reduced by 1 for every complete 9.50 of gross taxable income between 27,121 and 38,330.

2008/2009 - Max grant = 2835. Grant is reduced by 1 for every complete 6 of gross taxable income between 18,361 and 27,810.

It is also reduced by 1 for every complete 9.50 of gross taxable income between 27,811 and 39,305.

2009/2010 - Max grant = 2906. Grant is reduced by 1 for every complete 5.86 of gross taxable income between 18,361 and 27,819.

It is also reduced by 1 for every complete 9.27 of gross taxable income between 27,820 and 39,333.

The 07/08 academic year is based on income for the year to 5th April 2007.
The 08/09 and 09/10 academic years are both based on income for the year to 5th April 2008.
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# 7
Fred Bear
Old 13-10-2009, 3:14 PM
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Thanks for such a full answer Taiko.

Quote:
Originally Posted by Taiko View Post
The 08/09 and 09/10 academic years are both based on income for the year to 5th April 2008.
I hadn't realised that. My income increased in 2008-09 and I assumed that year was used in the calculation.

Do you know which year's income will be used in years 4 and 5? (If my DD manages to survive till the end that is.)
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# 8
Taiko
Old 13-10-2009, 9:20 PM
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At present, it's going 2 tax years back, so if the regulations do not change, it will be the 08/09 tax year for the 10/11 academic year.

You mention a 5 year course. Is it Medicine by any chance?

Would help to know.
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# 9
Fred Bear
Old 13-10-2009, 9:44 PM
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Thanks Taiko. Yes you're right.

Another question, parental income is based on their income in a previous financial year but am I right that the student's unearned income (eg bank interest) is based on their estimated income for the following academic year?
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# 10
Taiko
Old 14-10-2009, 11:24 AM
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That's correct. It's unlikely to make a difference though.

I did once have a student who was getting 9000 a year in bank interest though. She hadn't declared it originally, but thought the interest was enough to declare her as self-supporting and make her independant.

With regards to the 5th year though, for Student Finance purposes income isn't relevent. 5th year of a medicine course attracts a means-tested NHS bursary, meaning that the only support available from The Student Loans Company is a reduced rate maintenance loan.

Last edited by Taiko; 14-10-2009 at 11:27 AM. Reason: Additional info
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