Am I getting Underpaid?

charlie792

In all seriousness Im honestly wondering if Im getting the right amount of student finance? I know its all to do with parents income etc but I would have thought everyone should recieve the same level of funding, it just came from a different level of loan to grants?

I just got told that someone else receives £1720 a term in loans + £925 grant + £500 bursary....Now am I being really stupid but that doesn't seem right that Im getting £1200 loan and thats it?

Poolie

YOu haven't told so what year of your course you are in and any other cirumstances or previous period of study.

charlie792

Sorry - Im third year so I know I get a bit less than I did previously.

Nothing else would affect my entitlement - just my parents income

I used that student finance calculator online for the 10/11 year but Im not sure how correct that would be - that reckons I should be getting over an extra £1000

Lokolo

You are getting £1200 loan each term yes?

That sounds about right. The £500 bursary would be from the university, so nothing to do with student finance really.

charlie792

Lokolo wrote: »

You are getting £1200 loan each term yes?

That sounds about right.

Yeah it works out to around £1200 a term - for some reason I only get paid in Sep + Jan instead of March too but Student Finance told me not to query it as I still got the same amount of money just got it sooner than I should - Ive always wondered as a result if thats right - if it is though then thats ok.

MrsManda

Not everyone gets the same level of funding. There's a table on direct.gov.uk which shows a basic guide to funding compared to household income for students who started in 2008
(does not account for the reduction due to it being your final year)

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Afteryourfirstyear/DG_171569

Do you not receive any maintanence grant or bursary?
Are you living at home or away at university?
Are you studying in London?

Is the person you're referring to:

In a year that's not their final year?
At a university in London?

MrsManda

Oldernotwiser wrote: »

Unless the person you're comparing yourself with has children, I can't think of any way they'd be getting £9435pa in funding.

It's possible if a person is studying in london and living away from home:

Maximum loan: £6928
Maximum grant: £2906
- £1292 grant reduction

= £8542

(not applying reduction for it being a final year)

+ university bursary: £2835

= £11377

Oldernotwiser

MrsManda wrote: »

It's possible if a person is studying in london and living away from home:

Maximum loan: £6928
Maximum grant: £2906
- £1292 grant reduction

= £8542

(not applying reduction for it being a final year)

+ university bursary: £2835

= £11377

But, if the OP was at a university in London, her non means tested loan would be higher than she says it is.

Madmonk

My son gets just under £10.000 a year - he gets a full grant,loan and bursary. He's at Oxford Brookes.

MM

devildog

That is why I think the whole funding system is screwed(ignoring the fact that you are in final year and any increase a student may get for studying in London)
One student gets approx £1,200 a term and another receives approx £3,300( 3 terms yes?)
Yes they may base it on parent's income but equally there are some whose parents may earn above the rate at which a bursary/full grant is paid yet it states the parent's ARE NOT expected to contribute anything to the student.
I thought all things were supposed to be equal?
At the end of the day every student should be entitled/receive the same amount as another(whether it be made up of loans/grants/bursaries)

archersluck

Yup sounds right, I'm on about the same in my final year. We only get 75% of the possible loan amount. Those who get more are also likely to get the 'free money' as well though as they get more free money, they get less loan. But no, it's not all equal.