Help With Student Loans - HERE!

stuwho

We're in Scotland & my son is going to university. We should be able to support him through it, but just wondered if it was still worthwhile him taking a student loan that he could put aside as savings. Just wondered if 
1 Is he allowed to do this

2 What's the pros & cons for taking a loan.
I know he'll have to pay back 9% of what he earns over the threshold, but like I've said, is it worthwhile doing it to maybe fund a mortgage deposit in years to come?
Thanks

stuwho

We're in Scotland & my son is going to university. We should be able to support him through it, but just wondered if it was still worthwhile him taking a student loan that he could put aside as savings. Just wondered if 
1 Is he allowed to do this

2 What's the pros & cons for taking a loan.
I know he'll have to pay back 9% of what he earns over the threshold, but like I've said, is it worthwhile doing it to maybe fund a mortgage deposit in years to come?
Thanks

Savvy_Sue

It's allowed. Your son should look at Martin's guide to student finance to work out whether it's something he'd like to do. 

bujin

Hi. My daughter is 32yrs old and is going to be doing a PGCE and can therefore apply for a student loan. She has recently split up from her boyfriend and coming to live at present with us, her parents, until she can sort something more permanent. 

Both my husband and I receive an occupational pension. Mine was actually due to medical grounds and was paid early because of it. I also receive some disability benefits. 

When she applies are our pensions taken as income for the purposes of means testing the maintenance loan. Would she get any maintenance loan and what is the threshold for not qualifying for one?
 Many thanks in advance. 

silvercar

Age 32 would be classed as independent of her parents.

bujin

silvercar said:

Age 32 would be classed as independent of her parents.

Do you have any other info. such as a link where we can find this information?

Savvy_Sue

bujin said:

silvercar said:

Age 32 would be classed as independent of her parents.

Do you have any other info. such as a link where we can find this information?

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/965145/sfe_how_you_are_assessed_and_paid_guide_2122_o.pdf

Page 23: defines independent students. 

PingPong1801

I really need help please.
Our daughter has applied for student finance and we as parents have filled in the support forms. I am a stay at home mum but husband has a reasonable salary.  We had calculated using Martin's calculator, inputting husband's salary less company pension contributions, as it states in the ? in that section in the calculator.
However husband says the application for student finance itself asked for gross figures, and so our daughter's loan is almost £1000 less than Martin's calculator had worked out. Martin's calculator definitely states it's less pension contributions, but this now doesn't appear to be the case? Can anyone help please?
Husband insists he's right in how he filled in the forms online.

sheramber

section 12  Part E  on the form.

UniArchie

slcworker said:

Hey, i have alot of Knowledge of how the student loans procedure works. If anyone needs any help, i can advise as much general info.
Obviously i cant divulge into specifics due to Data Protection and the fact that i'd get fired, but anything i can help with, just let me know.

Has anyone's child ever moved in with grandparents so they get a higher maintenance loan at uni? My partner's wages take our household income up and I think it's really unfair (as he is not my child's father) that this means my son will be entitled to less. My partner has his own children to support. Just curious if people do this, thanks