is it standard for your loan to lower in 3rd yr?

ames100

Hi just wondering if it is standard practise that your loan is automatically lower in your final year of university?

My loan is assessed and if anything my parents financial status over the years has worsened yet my loan and grant have both been lowered. I have been told by friends that then your loan is always lower in the third year as your meant to be studying etc.i

this year i am down nearly £1000 as a result on last years figures

Gingernutmeg

AFAIK the loan is lower in the third year as it's not intended to cover the holidays in the same way as the loans for previous years. That was the case when I was at uni, I'm assuming it's still the same now.

CLAPTON

sadly you're expected to finish in June so there is no loan/grant for the summer period

char_student

yes although by only a few hundred pounds. Mine is about £300 less I think than last year (I am a final year student)

The_One_Who

As the posters above have said, it is lower because it is not meant to support you over the summer months unlike the other years.

ames100

Thanks everyone for the clarification, - better start saving and job hunting! x

QuirkyChemistry

As soon you graduate you are able to sign on and get Job Seekers Allowance. I realise getting a job is better but it's there for an emergency.

blue_ashleigh

But make sure you don't apply for job seekers before the council has you down as finishing uni, for example your last exam may be May but the council may have you down as a student until 6th June (or whatever your uni is), otherwise you'll be hit with council tax!