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

Fire_Fox

You must declare any unearned, taxable income so the rent income may only count if it is taxable. Some of your rent income should be offset for tax against your mortgage interest payments (not the capital payments) so you may not have to declare all of it to the SLC. I presume you have a tax return stating how much you offset for mortgage interest and how much your offset for repairs? It may be helpful to discuss this with the Student Loans Company or perhaps post on the Cutting Tax board.

As you can see here child benefit is not taxable income so would not need to be declared:
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/IncomeTax/IntroductiontoIncomeTax/DG_078305

loopylu36

Hello

I aplogise if this is a silly question (or has been asked and answered but I have searched the thread and can't find anything)

Anyway my question is, do you get credit checked for a student loan? I am hoping to go to uni as a mature student in September but can't possibly do it without some financial assistance. I'm currently on a DMP (Debt Managment Plan) though so my credit rating is totally shot. Does this matter? Bearing in mind I clearly already have debt, adding to it with student debt may seem rather foolish, but this is a very long term stategy to evenatually earn loads and owe nothing! Well, that's the plan! But I'm worried that I won't get any money cos of my credit history??

Thanks

Loopy x

Oldernotwiser

loopylu36 wrote: »

Hello

I aplogise if this is a silly question (or has been asked and answered but I have searched the thread and can't find anything)

Anyway my question is, do you get credit checked for a student loan? I am hoping to go to uni as a mature student in September but can't possibly do it without some financial assistance. I'm currently on a DMP (Debt Managment Plan) though so my credit rating is totally shot. Does this matter? Bearing in mind I clearly already have debt, adding to it with student debt may seem rather foolish, but this is a very long term stategy to evenatually earn loads and owe nothing! Well, that's the plan! But I'm worried that I won't get any money cos of my credit history??

Thanks

Loopy x

I've answered thison the other thread.

claire_a_lou

My boyfriend is hoping to start studying for a degree in September at UCLAN. As he is Australian he has to pay £8,000 per year of study. He is currently in the country on an ancestry visa and will be able to get full citizenship in two years time. Are there any ways that he can get help with these fees? He fully intends to stay in this country on completion of his degree.

Any help greatly appreciated as I have no idea where we are going to find £8000 a year from!

Oldernotwiser

I don't know any way round this so it may be worth his while waiting until he's been here working for three years and go then. Don't forget, it's not only paying the international fees but not being eligible for anymaintenance funding.

ommadawn_2

My son has just been notified of his finances for his second year at uni but has now been given a gift of £5,000 by a family member. Should I notify student finance and will it affect his maintenance grant?

Oldernotwiser

ommadawn wrote: »

My son has just been notified of his finances for his second year at uni but has now been given a gift of £5,000 by a family member. Should I notify student finance and will it affect his maintenance grant?

You don't need to notify anything as it won't affect his maintenance grant. Only the interest on capital counts for means testing and there won't be much interest on £5,000 these days!

casper09

Hi
I'm a bit unsure about the finance for my son who is planning to go to uni in sept. He is allowed £3400 loan plus a maintance grant of £1300. The halls where he has applied to are charging £104 per week and the minimum tenancy is 43 weeks (which seems like a rip off but...). So that means his rent alone will be £4472 leaving £228 for food, books, travel etc. His uni only charge £2000 fees but don't give any bursaries.

As he is my first child to go to uni this has all come as a bit of a shock. I will support him as best I can and he will have to get a job but I was wondering is a student bank account overdraft the way that a lot of students get through?

It seems like madness that the reason students are getting into so much debt is to make the letting companies who own these student tower blocks rich, £104 per week from 200 students for 43 weeks...

Johnny_Forrest

Hi,

I took out a Student Loan before 1998; I've been deferring since. I recently took a job, and my gross salary is £21600. On top of this, I claim petrol expenses. My deferral is due- trouble is my monthly gross has crept past the threshold for the last month. My question is - is mileage included in the gross monthly income of £2100 limit. I don't expect the mileage to be as high in the future as it has been in my first two months (i've been travelling around visiting places for my job which I won't have to go back to).

Many thanks!

ianknight

Hi,
Wondered if anyone could help me. My stepson has been offered a place at a US University with a scholarship award that covers approx 30% of the fees, still leaving a considerable annual fee to pay.
Does anybody know if he would be eligable for any form of student loan or grant from the UK if he were to go and study in the US?
Any advice would be gratefully recieved.