Student MoneySaving: Funding, Borrowing & Living as a student Article Discussion Area

Oldernotwiser

If you have supported yourself for 3 years you'll be classed as an independent student and not assessed on parents' income. Supporting yourself can be by earnings or benefits but not in full time education, regardless of where you have been living.

I don't understand why your mother can't fill in the forms, but then I don't understand what you mean when you say "my mother lives with my father but is unemployed and they are separated which just makes things worse." Perhaps you could clarify this?

randomways

well the money I've earned for the last 3 years hasn't been full time work and I have been in full-time education for 2 of the 3 year. I have also been unemployed in the middle of these periods but still have earned money in the finance year and not claimed benefits during these unemployment because of being in education. I have no idea if this is classed as independent at all because I have still been living from parents income.

with the mother part she lives with my dad but is unemployed and does not claim benefits and she is living off my dads income and they were never married so basically I can't use her income because they will just ask for my dad's as far as I know.

Lokolo

Living off of £3,400 a year is what being a student is about. You don't have luxuries.

Theres also plenty of time to earn money in the summer, I earnt £1700. My friend earnt £2,000+. If we had got fulltime jobs in those times it would have been more.

A partime job is always good, I get paid £7.30 an hour working for the university and I choose my hours to suite me. I sometimes earn £100 a month, sometimes nothing, sometimes more.

Oldernotwiser

randomways wrote: »

well the money I've earned for the last 3 years hasn't been full time work and I have been in full-time education for 2 of the 3 year. I have also been unemployed in the middle of these periods but still have earned money in the finance year and not claimed benefits during these unemployment because of being in education. I have no idea if this is classed as independent at all because I have still been living from parents income.

with the mother part she lives with my dad but is unemployed and does not claim benefits and she is living off my dads income and they were never married so basically I can't use her income because they will just ask for my dad's as far as I know.

OK, you're definitely not an independent student then.

I still don't see why your mother can't fill in the finance forms for you though; she'd be able to give information about household income, regardless of whether they're married or not, and presumably could lay her hands on the proofs of income.

Alternatively, do as Lokolo suggests and save up or put off going to university for 2 more years until you're considered as independent.

randomways

its gets even more complex I'm afraid, my dads self employed and he has to fill out a form to say about his income and then get his accountant to put his details about his income, so that's a no go with my mother filling out the form.

and lokolo suggestion is not as easy as it looks, my dad won't give me any money, I also have to pay for living during the summer and other holidays and also if I live off the basic maintenance of a 40 week student calendar I would have after rent a mere £11.75 a week to spend all the necessaries. I could get a job but all the jobs are going to go because of this credit crunh because so many jobs are going under there because mass unemplyment, this means there are no jobs to be taken.

Oldernotwiser

randomways wrote: »

I could get a job but all the jobs are going to go because of this credit crunh because so many jobs are going under there because mass unemplyment, this means there are no jobs to be taken.

Oh, don't be silly! People will still be shopping, having nights out etc and there'll still be people needed to serve them.

If you can't manage to go straight away then work for a couple of years until you attain independent status; it might help you grow up a bit!

farso

Oldernotwiser wrote: »

Oh, don't be silly! People will still be shopping, having nights out etc and there'll still be people needed to serve them.

If you can't manage to go straight away then work for a couple of years until you attain independent status; it might help you grow up a bit!

I'm pretty sure that it isn't a case of "no jobs", rather that there are limited amounts of jobs available. When it comes down to it, employers will prefer people who are flexible, and with lecture times and coursework deadlines, students aren't the most flexible around.

Having said that, I know a few people (fellow students at Nottingham University) that do have jobs. My Uni has the student ambassador scheme, which is paid quite well, but tends to be very seasonal. The SU bar pays very well, (I think over £7 an hour) and I know a few who do some hours a week down there, and they understand the needs of students also. Plus, they are shut over holidays, leaving you free for home.

Also, to second/third this - You won't be classed as independant until you are over 25 or have had a full time job for over 3 years, and even then it's a pain to get!

Oldernotwiser

farso wrote: »

Also, to second/third this - You won't be classed as independant until you are over 25 or have had a full time job for over 3 years, and even then it's a pain to get!

Self supporting doesn't have to be a full time job but it does have to be substantial hours. Claiming benefits also counts as self supporting.

randomways

well I phoned up student finance and asked about the independent student bit, you have to be earning over £7000 pre-tax income a year for 3 years to be able to be classed as one which i guess is few in a way but not in others.

I guess my only real hope now is that I can some how get it done all through my mother some how, if not I'm going to have to just take the basic loan and be screwed from the 4 years of my degree... unless i get a good job that is

CN1955

I'm told by the Inland Revenue that Student Loan repayments are taken out of gross salary, before tax is calculated, which makes them tax efficient, for every £100 paid back only £80 is missing from the net pay.

I'm considering paying back my loan, sooner rather than later. The Inland Revenue tells me that they cannot increase what is deducted from salary, the only way to pay more back is by a lump sum in the form of a cheque, which will of course come out of my taxed salary, and will therefore be less tax efficient.

Is this right?