Student loans for very mature students

davestretty

My wife (56) has been made redundant and cannot find a job. She does not get any benefits (I work fulltime). If she starts a degree course next year (oct 2012) will she get a full tuition fee and living loan? I earn national ave ish and we have a 16 year old in fulltime education. She will not receive oap until 66 and will probably never earn >£21k, so does this mean she will never have to repay the "loan". If so this is a great way for mature redundants to receive an "income" and re-educate at no cost to us. Whoopee does this mean that this mean and penny pinching govt has left us oldies a loophole ?
If this is the case I also could "retire" early (59) and do the same, thus getting round to some degree (haha) the increase in state pension age for both men, and more scandalously, women from 60 to 66.

Martin's view on this would be most welcome

montymud

There is a student loans calculator HERE, so pop in age and details etc and see what it throws back at you and the very best of luck to your wife

agrinnall

Unfortunately that doesn't let you put in a request for 2012/3 so I'm not sure that helps the OP other than to say what his wife would get this year - given the changes happening next year that may not be very relevant.

InsideInsurance

Details for 2012/2013 are on http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/DG_194804

My basic understanding is assuming she has never done a degree level qualification before then she will be eligible for tuition and maintenance loans but the maintenance grant is means tested.

davestretty

Thanks for replies, but really this is only relevant for 2012 onwards. As the govt (the idiot Michael Gove - what a prat) is at pains to point out the funding is not a loan, and there is no compulsion to work afterwards, so I can't see how it could be refused. If it was refused based on age this would surely be age discrimination which is illegal! This should go some way towards compensating us for the theft of ~£30k of my wife's old age pension (age 60 to 66)

InsideInsurance

It is a loan but it is one that is income linked on repayment. Never earn enough to repay then you never have to repay and it gets deleted after a period - think its 35 years from vague memory.

Emmzi

I assume she has not recieved funding for further education before?

Your age
To qualify for a student loan to help with accommodation and living costs (called the Maintenance Loan), you need to be aged under 60 when you start your course.

There’s no upper age limit to qualify for grants or the Tuition Fee Loan.

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Gettingstarted/DG_171574

davestretty

Thanks emzi. The gov website does explain what will be available after 2012 (if you look closely). It looks like early retirement is on the cards and a full time degree course for both of us! That will bring in my pension and at least £15k per year (probably plus other benefits) which would better my current earnings without all the stress of a hated job, and improve my mind. Isn't education a wonderful thing.

Wonder if I can find a 5 year course

Emmzi

you know you will have to pass every year to keep getting funding? so also no long retirement holidays - and maybe resits in the summer hols!!

lorietta

Also, normal funding is only 3 + 1 years (so 3 years plus one extra if you decide to change course after the first year, or funding if you fail a year and have to resit it.), so if you are 59, you could not recieve funding until you are 65. The only ways around this are usually bursaries from organisations such as the NHS or the army, but to get these I believe you have to agree to work for them for X number of years after?

You also have to be under 60 when you start your course, so I think you should be ok. Information about amounts is on the direct.gov website, and a google search will quickly bring it up.

Lokolo

It's not actually 3 + 1 years, its COURSE LENGTH + 1 years. It just happens that most courses are 3 years long.