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Asset Means testing

paulsjoy
paulsjoy Posts: 13 Forumite
edited 14 March 2010 at 1:17PM in Student MoneySaving
Great site Martin thank you. This is making it it so much easier to plan for a couple of years ahead when my son will be going to Uni.

You mention that Grants and Loans are Residual Income tested, but can you confirm if assets will also be tested, such as Savings and investments or equity in homes.

Thanks

Comments

  • Oldernotwiser
    Oldernotwiser Posts: 37,425 Forumite
    Unfortunately assets aren't included in assessing parental income, only the income from them.
  • Voyager2002
    Voyager2002 Posts: 16,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Oldernotwiser wrote: »
    Unfortunately assets aren't included in assessing parental income, only the income from them.

    Fortunately for the students involved!
  • Oldernotwiser
    Oldernotwiser Posts: 37,425 Forumite
    Voyager2002 wrote: »
    Fortunately for the students involved!

    Of course, but I've more time for the rest of us than for those coming from families with investments and multiple properties!
  • snowgirly
    snowgirly Posts: 22 Forumite
    paulsjoy wrote: »
    Great site Martin thank you. This is making it it so much easier to plan for a couple of years ahead when my son will be going to Uni.

    You mention that Grants and Loans are Residual Income tested, but can you confirm if assets will also be tested, such as Savings and investments or equity in homes.

    Thanks

    I am not really sure, but I don't think so, unless you are going to declare it.
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