Maintenance grant PGCE - re parents household income

sandragreen44

My son will be doing a PGCE in September. He is applying for a maintenance grant. You can receive a non repayable maintenance grant of up to £2,700 a year depending if your household income is less than £37,426. If it is above £37,425 you receive nothing. On the PN1 form you have to declare your income including interest on savings but not ISA's. I would like to know by how much would your interest on savings affect the amount of grant you will get. For example if my household income excluding interest on savings was about £30,000 how much interest would I need to accumerlate before I reached the threshold of £37,426?

CIS

Interest received would be counted in full as income, so if you got £50 of interest per year, you would declare that as income on top of any other income.

sandragreen44

Yes I understand that, but I want to know how much interest you would have, when this starts to affect the amount of grant you will receive.

exil

I'm guessing you mean how much grant you lose for each £1 of interest - the answer is
about 10p if the same rules as student loans/fees are applied.