09/10 Student Finance Applications Open

BruceyBonus

Although you won't actually be able to prove income for another 2 months, you are now able to apply online for 09/10 loans/grants.

This year the applications can be done at https://www.direct.gov.uk/studentfinance (website exactly the same as Student Finance Direct, just orange instead of green/blue).

Taiko

Actually, as it's based on income for the 07/08 tax year, people should be able to provide proof of income. Self-assessment tax return dates have long passed, and P60's for last year should have been issued.

Lokolo

Also I recommend continuing students don't do it atm... mines completely f00ked. Doesn't even remember my course or uni I've been doing the past 2 years.

Taiko

Yeah, that too. HEI database is unlikely to be fully operational, especially as SLC have internal systems down all weekend.

Masomnia

Would appreciate some help here folks.

I'm being honest and admitting to having unearned income, so I'm a bit unsure on what to put down. It says 'Taxable income', so presumably I don't need to include ISA interest? Also, since I'm going to be below the personal allowance for income tax, doesn't that mean that none of my income is taxable? Bit confused here.

Also it says include money from dividends/investments for 09/10, though I plan to dabble in shares a little in that time, surely I can't possibly give an accurate estimate. What do they expect?!

BruceyBonus

Taiko wrote: »

Actually, as it's based on income for the 07/08 tax year, people should be able to provide proof of income. Self-assessment tax return dates have long passed, and P60's for last year should have been issued.

No - it is income from the 08/09 tax year - which ends 5th April 2009.

Aspiring

BruceyBonus wrote: »

No - it is income from the 08/09 tax year - which ends 5th April 2009.

Now I really am confused.

We had an input about student finance for 09/10 from the finance guy at a London Uni - he definately said the figures would be based on the end of tax year 08.

BruceyBonus

Aspiring wrote: »

Now I really am confused.

We had an input about student finance for 09/10 from the finance guy at a London Uni - he definately said the figures would be based on the end of tax year 08.

Weird? This year's form says 07/08 but last year's also said 07/08. They mention 09/10 tax year (if your income goes down) but seem to have totally forgotten the 08/09 tax year.
So I'm assuming they won't need to see any evidence for our income as we sent it all last year?

barnabee

This year they are basing the financial details on the tax year 2007-08.

However if think your total income for the household for the financial year 2009-10 will be at least 15% less than it was in 2007-08 (and for alot of people it now will be) then you can apply from April 2009 for your assessment to be calculated based on the projected year 2009-10. This is known as 'a current year assessment'.

Page 13 of the PR1 application form notes provides more information. It was one great b*lls up last year and I am only presuming that they want to make an even greater one this year. Expect turmoil, tears and long waits in the disgusting telephone enquiry service.

Taiko

It's all changed Brucey, and it's all inside The Student Support Regulations 2009. So people should have the documents available. Shouldn't prevent Current Income assessments taking place though.

atypical

Lokolo wrote: »

Also I recommend continuing students don't do it atm... mines completely f00ked. Doesn't even remember my course or uni I've been doing the past 2 years.

I just completed it fine, it 'recalled' all of my information from my previous application. It is currently "awaiting assessment".

There were certainly questions I was confused about. Though it said somewhere that during normal office hours there will be the option to speak to an online assistant, should be helpful.

edit: I didn't even consider my savings interest. Was I meant to declare it as unearned income? Though it is in a fixed bond until 2011 so I won't actually have any income from it till then.