Means Testing for Maintenance Grant

susanann_2

I understand that when applying for your Maintenance Grant it is based on parents income. Do they take parents savings into account as well as their income. As parents we are on a low income but have saved over the years in an ISA and have put away some inheritance money for our retirement. We have no other pension apart from the State one so will need this money when we retire next year. Will this affect how much grant our daughter will receive.

Helix

Savings are not taken into account, but you are meant to declare the interest from non ISA savings.

boundah

I was about to post the same question but found this thread, so thanks susannann & helix.

Someone pointed me to DirectGov website, which has a link to the income assessment form for 2011-12. It seems only income (from all sources) is taken into account, and not capital. I guess the questions will be more or less the same for students starting in 2012, unless someone knows any different.

MELLA_2

Please remember if your parents income has dropped then you can go for a Current Year Income assessment. The forms are on the site. So this is excellent for those who may have been earning a lot but suddenly income dropped due to recession therefore current income low. Hope this helps.