PDF Parents' Guide To Student Finance 2009/10 Discussion

mandy.h_2

thanks for your reply that will make a big difference to where she could accept a place. also can i ask does the amount you get in your first year apply throughout of do you declare your income every year

student_advisor

I'm afraid applying is a yearly task.

saltpot

HI
My daughter is due to start an undergraduate course in September 2009. The whole side of it is confusing in relation to the amount of maintenance grant she will get. I go onto the student finace site and it asks for details of potential earnings in 09-10.
I ahve also read that if she starts in September the maintenance is based on income for 07-08- almost two years out.

Reason I ask in particular is that for 08/09 my income- with loss of earnings from self employment was £29.700- this means that from September this year my other daughter can claim EMA at the lowest rate. In come for 07/08 was better- £36, 200 and this year possibly better. So which year will her maintenance grant be based on? and in which year will last years lowest income so far kick in?
Thanks Julie

MumofStudent

I am a parent of a student starting university in September and am filling in the paper form. What evidence do I need to send for Building Society interest and Share Dividends?

Also I was recently made redundant so need to fill in a current year income assessment form also. I received severance pay - do I need to declare it as income? If I do, do I declare it all? The 1st £30,000 was tax free.

Thanks

devildog

Daughter starting at Uni September 09 have done the Student Finance Application (nightmare start to finish).

My husband works overseas and is not classed as 'ordinarily resident' ie he doesn't pay UK tax, Student Finance have assessed his whole income as 'available'. He gets paid a basic wage and an overseas allowance, obviously his overseas allowance is supplied by his employer for that very thing (difference in living conditions, flights home to us etc) My argument is that if he was a UK tax payer then his overseas allowance (backed up by receipts) would be classsed as non taxable and therefore not entered onto his P60 (as it currently is) .
I did appeal their decision but just got directed to The Education (Student Support) regulations and how they define taxable income, despite this I still say that he is being penalised for the agreement between his employer and HM Revenue.
This is an important issue to us because if they do not include his overseas allowance in their calculations then our daughter will become eligible for bursary help.

Secondly, I was made redundant from my job in April of this year but was offered work on a 'supply' basis at the same place I worked. I informed Student Finance of this and they have asked me to complete a current year assessment form (which I have done) and I have estimated what I am likely to earn for the year, (likely to be earning more this current year) however as I am not on a contract then I am not guaranteed this work and there are many factors that could happen when I would not be required to work-so how can they assess me on a wage that is not guaranteed?

If anyone has any answers I would be grateful

MrsManda

saltpot wrote: »

Reason I ask in particular is that for 08/09 my income- with loss of earnings from self employment was £29.700- this means that from September this year my other daughter can claim EMA at the lowest rate. In come for 07/08 was better- £36, 200 and this year possibly better. So which year will her maintenance grant be based on? and in which year will last years lowest income so far kick in?
Thanks Julie

Student Finance is based on 07-08 for 09/10 because of the migration of the system from LEAs to StudentFinanceEngland. I don't know if the trend of finance being based on the finance year two years past is going to stay or whether it'll revert back to using the previous financial year (09/10) for 10/11.
If your income has changed +/- 15% you should fill in a Change of Circumstances form for reassessment.

student_advisor

MrsManda wrote: »

Student Finance is based on 07-08 for 09/10 because of the migration of the system from LEAs to StudentFinanceEngland. I don't know if the trend of finance being based on the finance year two years past is going to stay or whether it'll revert back to using the previous financial year (09/10) for 10/11.

They have gone to two years previous because when applications finally start opening in September (like they should have done last year), that will be the last complete tax year. It will be like this for the foreseeable future.

jngai

Currently filling in student finance, for both parents as they're not too English-fluent.

Just had the GSA1 taken to their accountant, who has filled in all the figures for page 3.

Only parts d, e, f affect us:

The proof for the land, property and furnished lettings is the GSA1 which is fine.

However, my parents run a family business and they don't have a pension as of yet - as none of them are retired. The accountant has put a figure for this. How do am I supposed to explain this? - I don't have any proof, that I know of...

For the Gross income from savings, investments, dividends or any other taxable resource there is also a figure, but normally my parents chuck away documents that have been sorted (i.e. paid) ... so what evidence can I give there?

The accountant is a good hour's drive away.

How do I prove e and f? I wish teh GSA1 alone proved it. Also, if i've added a dependant for university - can I just write a cover letter saying that my sister is at uni - and she has no job?

Many thanks to anyone that can help!

Savvy_Sue

Possibly daft questions, but DS2 started last year (October 2008) and has currently applied for non-income assessed loan for his second year. I'm trying to work out if it's worth him changing that to income-assessed. I'm fairly sure our income is hovering around the £50,000 level, but ... it depends!

We have a dependent DS3 (doing A2s this year so over school leaving age).

So, my questions:

1. Does DS3 get taken into account in considering our income?

2. What else gets taken into account in considering our income? (I know it's different to tax credits, for example, where pension payments and Gift Aided payments can be deducted).

3. As a continuing student, which tax year is our income assessed on? 07-08 or 08-09?

4. Having taken all the above into account, what's the highest income we can have for DS2 to get any loan?

I have been clicking around various websites but without actually working out what the answers are ...

Lokolo

1. No.

2. Any taxable income, so savings interests etc.

3. The year he is applying for.

4. To get extra loan you have to have less than £60k, to have grant less than £50k.