Student Loan 2015 Discussion

LackingWherewithal

Like many people running small businesses, we're paid low wages and mainly through dividends. The SFE form for parental income has a category for dividend income, but is this taken as a straight figure for calculating the maximum student loan or are dividends 'grossed' in some way, in the same way that salary/wages are assumed to be gross?
Thanks
LackingWherewithal

Taiko

You'd need to gross up the dividends.

Foolah

Question:

I go on work placement next year and the bank have already sent a letter out to mention something about overdrafts being stopped if payments from SF aren't made every 6 months. But what can you expect when you go on placement?

Also, my overdraft is £1,250 and I am currently a third year student (well 2, failed first year at another uni). So when can I expect an increase on the overdraft?

Thanks!

Lokolo

Foolah wrote: »

Question:

I go on work placement next year and the bank have already sent a letter out to mention something about overdrafts being stopped if payments from SF aren't made every 6 months. But what can you expect when you go on placement?

Also, my overdraft is £1,250 and I am currently a third year student (well 2, failed first year at another uni). So when can I expect an increase on the overdraft?

Thanks!

You can still get student loan in placement year.

No idea about the overdraft.

mrskkh

Hi there

I wondered if anybody would be able to help me, I currently am on a full time degree but had to leave due to finances etc but have still received one part of this years loan money from SFE. I have looked into doing the degree I want part time but would still need funding to cover the course fee only.

Do you know if I would still be eligiable for the course fee loan as I have already had in their eyes 3 years funding as I did a foundation year to get me onto my current degree?

Many thanks

emzylou

If possible, I could really do with a little advice. I've scanned through quite a few of the thread pages, but just want to double check that I've read correctly.

This October I am hoping to start my English Literature degree through the Open university, but study full time to complete in three years. Then complete my PGCE in Secondary English in a 'brick' uni nearby.

In 2007 I started my business degree, but decided the course wasn't for me, and left after three months. Because of these three months I won't be able to apply for a tuition loan will I? Will this be the case for the whole of the degree, or only for the first year?

Many Thanks

LackingWherewithal

Hi,
I understand (now) that the parental contribution to the maintenance loan is split when there are more than one student at Uni from the same family. For example, for a London student living away from home where family income isn't assessed, the max maintenance loan is £4988 and parental contribution is £2687. If the parental contribution is split because is a second student from the same family, then this would be approx £1340 each, increasing the max loan per student to about £6330 each.
In our case we didn't submit figures for family income for our first offspring. So, for the second student do we need to submit details of family income to SFE to split the parental contribution (knowing that the figures will produce a result of max parental contribution anyway), or does SFE have a mechanism for spliiting parental contribution if we decide not to submit family income figures for assessment ?
Thanks
LackingWherewithal

devildog

Hi,

It is down to you whether you choose to submit your income details, but you don't need to do that to get the contribution split, any new student in the family will have their application linked to any sibling student and parents so things should tie up quite nicely.

monxton

LackingWherewithal wrote: »

I understand (now) that the parental contribution to the maintenance loan is split when there are more than one student at Uni from the same family. For example, for a London student living away from home where family income isn't assessed, the max maintenance loan is £4988 and parental contribution is £2687. If the parental contribution is split because is a second student from the same family, then this would be approx £1340 each, increasing the max loan per student to about £6330 each.
In our case we didn't submit figures for family income for our first offspring. So, for the second student do we need to submit details of family income to SFE to split the parental contribution (knowing that the figures will produce a result of max parental contribution anyway), or does SFE have a mechanism for splitting parental contribution if we decide not to submit family income figures for assessment ?
Thanks
LackingWherewithal

Lacking, you say that in the case where there is more than one current student, the parental contribution is split so that each student can receive a larger loan. I'd be happy if you were correct, but I doubt that a student whose parental income is unassessed would be allocated more than the (65% of the maximum) loan of £3575(non-London) / £4988(London).

I asked this earlier on this forum and was told that the only difference a second student child would make is the additional allowance of £1130 against the parents' income - in other words if you are close to the £62,500 threshold the allowance could push you slightly higher up the scale. Obviously you'd have to submit your income details to get this.

One of these two theories must be wrong.

devildog

Just to clear up any confusion, what I was saying(or trying to say) is that any student(sibling) applications will be linked automatically whether income or non income assessed. I hadn't factored in split contributions.
I can't see anyone receiving any more than the 65% maximum loan for non-assessment of parent's income either. Yes, £1130 will be 'deducted' from parents income figure but I don't think it will push you over but bring the total income £1130 lower.