Help With Student Loans - HERE!

birduk

Or you could get an offer letter from your company (when you first started if that was recent) that states your annual salary. If it is under the threshold the Student Loans are normally understanding and you can defer. Of course your annual salary doesn't include your overtime, bonus etc.

Could be a way round it? Good luck!

roxalana

robnye wrote: »

the assessed part is optional..... otherwise you should be entitled to the £4500 (approx) (unless ive got it completely wrong - in which case my daughter will be stuffed or my bank balance will be)

I believe 75% of the maintenance loan is not income assessed but the remaining 25% is.

The maximum amounts this year (including the means tested bit) are:

£3,580 if you are living in the parental home
£4,625 if you are living away from parents in areas other than london
£6,475 if you are living away from parents in London.

It is less if you are in your final year (£3,235, £4,280 & £5,895).

So if you are not being means tested take 25% off these figures.

robnye

roxalana wrote: »

I believe 75% of the maintenance loan is not income assessed but the remaining 25% is.

The maximum amounts this year (including the means tested bit) are:

£3,580 if you are living in the parental home
£4,625 if you are living away from parents in areas other than london
£6,475 if you are living away from parents in London.

It is less if you are in your final year (£3,235, £4,280 & £5,895).

So if you are not being means tested take 25% off these figures.

im not sure this is correct.... i have just done the dummy calc on www.studentfinancedirect.co.uk
and allowed for income assessed portion as well.... and the total came up as £4625, made up of maintenance loan and HE maintenance grant.

so i think the minimum for not in london is £4625, unless you specify you want less (maintenance loan is reduced by £1 for every £1 of HE maintenance grant received)
nb - just redid the dummy calc without income assessment and the figure was lower...... so i completely confused now... i think i need a lie down.....:D

probably best to give the student support department at you local education authority a call....

roxalana

Sorry by 'means tested bit' I meant 'means tested part of the maintenance loan'.

I haven't included any grants such as HE grant (if you are an 'old system' student or maintenance grant (if you are a 'new system' student).

Should have also put the bit about grants affecting the loans too though, but I suspect it will just confuse matters further.

If you get HE grant or special support grant this does not reduce the amount of maintenance loan you get.

If you get the maintenance grant, the amount of maintenace loan you get is reduced. The amount the loan is reduced by is initially £ for £, but the amount it can be reduced by is capped - I think the calculator must take account of this.

Dee140157

Oh gosh how complicated all this. I have just started the application for my son and have come across my first hurdle. My son gets a pension from his deceased father's work until he completes full time education. (Approx £3000 a year). Does he need to declare this as unearned income? It seems to say you have to declare some but not other income but this one does not seem to be covered by either category.

Also I know its a daft question but am I single or married? (I do know the difference honest!) At the moment I am single (widowed) and have been for last 6 years. But I am to marry next month during the time the loan etc will be processed. I have been told by the LEA I only need to declare my income for last year as a single person. Fiance does not move in till we are married.

And so the myriad of questions I am sure will begin. Any help gratefully received.

Lokolo

Um I can only answer the parents income one: They mean household income. So if your OH (other half) does not live with you yet you do not need to declare this.

Not sure about the pension thing as I am not sure if this really counts as income or not, I would assume so, but its unlikely to make a difference (not 100% sure on that, I went non income assessed, put £2500 down for my income and didn't change anything)

martin84

just to let you guys know, I work for SLC also and would certainly help out anyone who has a general question

Lokolo

martin84 wrote: »

just to let you guys know, I work for SLC also and would certainly help out anyone who has a general question

Well whilst I'm here. I posted my declaration form on Monday. So I suspect it would get to you by tomorrow. How long from then should I expect everything to be finalised?

[edit] I am impatient yes but I have 2 exams in a week so I need to plan other things than revision

martin84

Lokolo wrote: »

Well whilst I'm here. I posted my declaration form on Monday. So I suspect it would get to you by tomorrow. How long from then should I expect everything to be finalised?

[edit] I am impatient yes but I have 2 exams in a week so I need to plan other things than revision

jesus that was fast ,
you declaration form would of gone to your LEA, it can take them upto 2 weeks to process this,

Wiggynut

do the student loan people send you a letter at any point?
I applied online at the beginning of March and took my passport in by hand a week later - I then changed the Uni I'm going to 2 weeks ago which is showing as changed online.

I havn't heard anything from them yet?
how long does it take?
I'm a mature student (36) and independent.

frustrating as it would be nice to have something in writing - even to acknowledge your application - I guess that it's changed the Uni is some kind of acknowledgement so at least I know someone has actually 'touched' it!

I accepted the Uni place about 4 weeks ago and havn't got a letter from them yet... guess I'm wanting an instant response but I have no idea if you get a 'welcome pack' or letter from them either... does anyone else know what the usual time line is for this sort of stuff?