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PDF Parents' Guide To Student Finance 2010/11 discussion

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  • Savvy_Sue
    Savvy_Sue Posts: 47,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Welcome. Have you talked to the college about what funding is available (apart from scholarships) and what help they can give with accommodation? This isn't an unusual situation for them, I'm sure.
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  • Savvy_Sue
    Savvy_Sue Posts: 47,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Also, will you still be able to get Child Benefit for him?
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  • drspouse
    drspouse Posts: 61 Forumite
    Part of the Furniture 10 Posts Photogenic Name Dropper
    Trying to clarify something for a friend whose son I think is taking a year out, so applying now for finance for 2012.
    They have decided that it would actually be better to extend their mortgage. I'm not so convinced because although the interest rates are clearly lower, mortgage companies don't write off your debts after 30 years. Also I'm assuming they'd get no bursaries or maintenance grants (I am pretty sure they'd be eligible for some) - those are all available only through SFE aren't they?

    One major question though is are families actually ALLOWED to pay the fees direct? And if they do, would they be charged more (e.g. overseas student rates)?
  • MrsManda
    MrsManda Posts: 4,457 Forumite
    drspouse wrote: »
    Trying to clarify something for a friend whose son I think is taking a year out, so applying now for finance for 2012.
    They have decided that it would actually be better to extend their mortgage. I'm not so convinced because although the interest rates are clearly lower, mortgage companies don't write off your debts after 30 years. Also I'm assuming they'd get no bursaries or maintenance grants (I am pretty sure they'd be eligible for some) - those are all available only through SFE aren't they?

    One major question though is are families actually ALLOWED to pay the fees direct? And if they do, would they be charged more (e.g. overseas student rates)?

    You don't have to take out student finance so yes you are allowed to pay fees directly to the university. He won't pay higher fees though there may be a processing fee.I think the student has to prove to the university that he can afford to pay fees and live for the duration of the course on the funds he has available.

    He won't get any grants/bursaries as they are linked with the student finance package.
    Personally I think the parents are being foolish, the loans are low cost - their mortgage may have a lower interest rate at the moment but that doesn't mean that it'll stay lower for the length of the mortgage.
    Also, mortgages have to paid regardless of income whereas if the student is not earning, they do not pay.
    But it's up to them and what is best for them and their son
  • Savvy_Sue
    Savvy_Sue Posts: 47,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ^^^ says it all, really! Also passes on entirely the wrong message to the student: Mummy and Daddy need to carry on looking after you even though you are now technically a grown up. I know that sounds harsh, but these are young adults we're talking about, and no-one forces them to apply to University.
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  • Thanks, I work in a university (so I said I'd investigate but of course our uni may not have exactly the same answers as the ones I'm applying to).

    I am pretty sure this friend's parents did not take the attitude that they'd carry on paying their way after they left home - so I'm not quite sure why they think it's their responsibility for their son.
  • littld
    littld Posts: 122 Forumite
    If a child has savings, does this affect their entitlement to a maintenance loan?
  • Savvy_Sue
    Savvy_Sue Posts: 47,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Not when mine applied (and I haven't heard of it changing). Nor does their predicted earnings: although it asks about them, they're not taken into account.
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  • Would be extremely greatfull for some advice please (actually having a bit of panic )
    I am currently being reassessed for SF due to my partner moving with me 2 weeks into starting my course. My Grant and loan entitled went from being: (I was still to be assessed for CCG)
    Loan: £5998
    Grant: 3250
    PLA: 1508

    to just a loan and NO grants
    Loan: 3875

    Which is a considerable drop.
    I rang them up and they said that I didn't send in a Pff1. But whilst I was on the phone to them they saw that it was sent in months ago, along with a years worth of my partners bank statements, child maintenance payments, insurance policies, p60, pay slips.. THE LOT!
    So they have sent it back the reassessment team again and keep telling me to ring back each time they give me a date to ring them. I am at my whits end. I am not too sure if I can afford to go to Uni amymore. I was wondering if you could give me a rough idea of entitlements please? I am being assessed for a loan, grant, adults dependents grant, childcare grant and PLA

    Kindest Regards :) xx
  • thats a difficult question
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