Just got off teh phone to student finance.. these calcs cant be right?

eklynne

Well, if I could finish my degree without a 20k debt to repay, I would. Different strokes for different folks though.

atypical

I suppose it depends whether you value the feeling of being debt free more than the feeling that you're making money. I'd hazard a guess most would prefer the latter given the choice.

Oldernotwiser

eklynne wrote: »

That's quite a naive attitude.

I don't think that's naive. I've got a student loan that hasn't cost me a penny and will be wiped out next year. If I hadn't needed the money to live on I could have invested it and made a decent profit.

eklynne

Oldernotwiser wrote: »

I don't think that's naive. I've got a student loan that hasn't cost me a penny and will be wiped out next year. If I hadn't needed the money to live on I could have invested it and made a decent profit.

Why will it be wiped out?

Lokolo

eklynne wrote: »

Why will it be wiped out?

Because shes 50.

payless

Income ( well emplyment income) is not effecting your grant or loan.

Your grant is a Special Support Grant, rather than a Maintenance Grant ( the former does not reduce you loan entitlement)

With regard to student income, the following are classed as income for the purposes of tax credits:
• child dependants’ grant (except the NHS dependants’ grant);
• adult dependants’ grant;
• lone parents’ grant;
• two homes grant; and
• any part of a Career Development Loan paid for living expenses.
With regard to student income, the following are all disregarded:
Higher Education:
• grants or loans for tuition fees;
• maintenance grants;
• Special Support grants;
• Young Students' Bursaries;
• the Higher Education grant
• loans from the Student Loan Company;
• the childcare grant;
• the school meals grant;
• the travel, books and equipment grant;
• the disabled students’ allowance;
• travelling expenses;
• postgraduate studentships from any research council, the British Academy, or the SAAS;
• social work bursaries;
• NHS bursaries, dependants’ allowances and travel expenses;
• Scottish Health Department bursaries;
• Access to Learning Fund grants; and
• hardship grants.

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you should still be able to put ina CTC claim, and if working 16 hrs a WTC claim

Pont

eklynne wrote: »

If you don't need it, don't take out the loan. Seems silly to run up a debt for no reason. I'm a single parent full time student and would LOVE to be in a position to not need my student loan.

I was always under the belief that you HAD to take out a student loan in order to qualify for the maintenance grant. Have the rules changed?

Lokolo

Pont wrote: »

I was always under the belief that you HAD to take out a student loan in order to qualify for the maintenance grant. Have the rules changed?

No that is true. But as soon as you get your loan payment you could pay it back...

eklynne

Lokolo wrote: »

Because shes 50.

Handy.......

Pont

Lokolo wrote: »

No that is true. But as soon as you get your loan payment you could pay it back...

That's what I thought - and certainly what I would do in the OP's position.