Help With Student Loans - HERE!

jillymit

At the risk of appearing a bit thick, could you help me with my sons loan/ grant statement.:o
He received his financial assessment this morning which says-

Tuition fees £3225

Maintenance loan
Basic loan (non income assessed) £3564
Plus loan subject to income assessment £1386
Less loan substituted for grant £523
Less assessed contrubution to living costs £0
Maximum loan available £4427
Loan requested £4427
Loan to be paid £4427

Supplementary Grants
Maintenance grant £1046 :T

So as i read it he's been given a loan of £3225 of his fees, £4427 for living expences and £1046 on top of that which he doesn't have to pay back? Am I right? Can you tell I didn't go to uni :rotfl:
Thanks in advance.

Awec

jillymit wrote: »

At the risk of appearing a bit thick, could you help me with my sons loan/ grant statement.:o
He received his financial assessment this morning which says-

Tuition fees £3225

Maintenance loan
Basic loan (non income assessed) £3564
Plus loan subject to income assessment £1386
Less loan substituted for grant £523
Less assessed contrubution to living costs £0
Maximum loan available £4427
Loan requested £4427
Loan to be paid £4427

Supplementary Grants
Maintenance grant £1046 :T

So as i read it he's been given a loan of £3225 of his fees, £4427 for living expences and £1046 on top of that which he doesn't have to pay back? Am I right? Can you tell I didn't go to uni :rotfl:
Thanks in advance.

That is correct. He will never see the £3225; the loan company will give that directly to the University.

The £4427 will be paid in 3 stages. I got just over £3300 in my loan this year (non income assessed and didn't bother with extra details for income assessed). £1100 in September, February and the last one is the end of April.

I'm not sure how the Maintenance grant works as I've never got one, it may just be added together with the loan and paid in the stages (so he'll maybe get about 300 quid extra each payment) or maybe he'll just get the £1000 at the start of the year.

If your lucky, he may also be entitled to book bursarys or something. I didn't get these either, so I'm not sure who is eligable, but it may be worth enquiring about?

Be sure to keep the letter the loan company give you detailing the payments. It's likely the University will ask to see the payment detail sheet when he goes for enrolment, just so they can confirm they are getting their tuition fees from the loan.

MrsManda

To add to Awec's reply:
The maintanence grant will be paid at the same time as the loan payments so in three lots. The loan amount and the grant amount will show as two separate payments on your son's bank statement.
As your son has applied for income assessed loans and has recieved maintanence grants, he may be also entitled to grants from his university. Information will be passed to the university from the SLC to tell them what your son is going to receive from the LEA - the university will then decide if they are going to provide him with a grant from their scheme. He'll get notification of that a few weeks after he's formally accepted his place. That is also paid in three installments and will be paid into his bank account the same way as the student loans.

Awec

MrsManda wrote: »

To add to Awec's reply:
The maintanence grant will be paid at the same time as the loan payments so in three lots. The loan amount and the grant amount will show as two separate payments on your son's bank statement.
As your son has applied for income assessed loans and has recieved maintanence grants, he may be also entitled to grants from his university. Information will be passed to the university from the SLC to tell them what your son is going to receive from the LEA - the university will then decide if they are going to provide him with a grant from their scheme. He'll get notification of that a few weeks after he's formally accepted his place. That is also paid in three installments and will be paid into his bank account the same way as the student loans.

Thanks for clarifying.

Though in the case of my uni, book bursarys are not paid into bank accounts. Instead they are put on student cards (our student cards can be used to pay for things on campus - you can "top up" your card using the university's online system which each student has a login to to access course info etc) in order I assume to ensure that the book bursary is spent in the University's own book store.

Not sure if any other Universitys do the same, but I imagine some do.

jillymit

Thank you Awec and MrsManda for your prompt and informative replies.

My son ticked the box on the application to allow student finance to share his info with his university as he should qualify for a small amount bursary from them although I don't know how this would be paid.
I will make sure he takes all his paperwork with him.

He's entered a competition run by the university for a £1000 a year scholarship which would be very handy as he's convinced he has to have one of the most expensive ensuite rooms despite me trying to advise him otherwise. I'm sure he'll find his own way.;)
Anyone on here been to kent? ( Canterbury campus)

Awec

jillymit wrote: »

Thank you Awec and MrsManda for your prompt and informative replies.

My son ticked the box on the application to allow student finance to share his info with his university as he should qualify for a small amount bursary from them although I don't know how this would be paid.
I will make sure he takes all his paperwork with him.

He's entered a competition run by the university for a £1000 a year scholarship which would be very handy as he's convinced he has to have one of the most expensive ensuite rooms despite me trying to advise him otherwise. I'm sure he'll find his own way.;)
Anyone on here been to kent? ( Canterbury campus)

Not been to Kent, but I had an ensuite room at QUB in Belfast and it's great!

Also had a chance at the £1000 bursary thing. Well I had 2 chances really, I would have got £1000 if I had got 3 A's at A level but I messed around and only got AAB (was only a few marks short of AAA).

The other one I had to write an essay for, but to get the £1000 I had to commit myself to summer placement with the company offering the bursary, committ to placement year placement and then commit to working for them for a year after graduation. I wrote the essay anyway, just to keep options open, but I would have rejected it as I didn't want to be tied down so early in my course.

wonderer_2

Hi, As a self-employed parent supporting daughter's application, I'm wondering if Provisional figures are acceptable for SLC applications. Final figures are usually not available until autumn. many thanks!

jillymit

Awec wrote: »

Not been to Kent, but I had an ensuite room at QUB in Belfast and it's great!

Also had a chance at the £1000 bursary thing. Well I had 2 chances really, I would have got £1000 if I had got 3 A's at A level but I messed around and only got AAB (was only a few marks short of AAA).

The other one I had to write an essay for, but to get the £1000 I had to commit myself to summer placement with the company offering the bursary, committ to placement year placement and then commit to working for them for a year after graduation. I wrote the essay anyway, just to keep options open, but I would have rejected it as I didn't want to be tied down so early in my course.

He's just finishing a BTEC and I think he's got to get distinction x3 (360 points) to qualify for the scholarship.
As he's applied for computer science he had to suggest 8 things that computers or related technology would contrubute to in the future and write a short paragraph on each.
There doesn't seem to be any strings apart from 'the student must show satisfactory academic progress' and the winner will receive the money every year for the length of their course.
I'm keeping my fingers crossed for him and he thinks it's in the bag!
Oh, the optimism of youth!

veggie4life

My Son has filled in his but and now when I go to do mine it asks me to enter an identifying code that should have been emailed to me??

I never recieved the email and when i click on view correspondence none has been sent !

magicroundabout

Hi SLC worker,
Wondering if you can point me in the right direction. I feel helpless.
I am 21, have been studying in czech republic and amnow in my 3rd year of a 6 year study programme, however the only means of funding have been from my parents so I have no independence. Do you know of an financial aid to help both me and my parents, as I fear my parents are using their pension to fund me. Any help would be much appreciated.