Student Finance Help! – Wrong information sent off.

StudentD

In January I completed the student finance forms to apply for finance for the academic year 2010/2011.

I have been asked to send of my birth certificate, due to family problems I have only got around in doing this today.

While looking at the form online which I had completed and submitted I realised I answered a question on the form wrong

What is your taxable unearned income before deductions for the academic year 2010/2011?

I have savings that were left to me by my Nan 3-4 years ago, these savings are in various accounts now.
I put down the total was £96.00

But this is allot higher than it actually is, most of the money is now in ISA’s, and I only have around 5k in regular saving accounts where tax is taken off my interest.

I also calculated the interest for the whole year and not just the academic year.

the real total would be a lot lower.

Do you think this is something that could affect the money I receive from the grants/loans or is it nothing to worry about?
If it is something that could affect it, should I ring them and they would be able to change it?

Lokolo

Any interest in ISA does not count as taxable unearned income. So only the other accounts would count.

I don't think it effects it unless you earn quite a bit.

MrsManda

Don't worry about it. As lokolo said, interest from ISAs don't count as they're not taxable and I think it's something like £2000 before your unearned income affects your loans so really wouldn't worry about it.

On the subject of paying tax on your savings, if you are not likely to earn over £6000 during the year whilst being a student you can fill out a R85 form for your bank to ask them not to tax your interest.

StudentD

Sorry for the lateness, but thank you!