son maybe going uni but parnets not working

nutty1

what help will he get.

pondie1

my daughter(first year student)got full loan for £3250 for housing/living costs
£3000 loan for fees
£2700 maintence from LEA
she pays £3000 rent/food at northumbria

matt.forster_2

Only one of my parents works and doesnt earn alot (sub £15k). I recieve all of the above, and also my university gives me a £900 bursary. If the university charges £3000 then they have to give at least £300 to top up from the gov. grant. I have had very little financial help from my parents (possibly £100 since sept) and have not found myself eating at my overdraft.
If he does come into some trouble while at university, then the uni has funds to give out in emergencies, this is called a hardship grant, I think that there is around a £300 limit per semester per student.

Broke_Student

Assuming household income is under £17k:
- Tuition Fee Loan £3000 to be paid back when earning above £15k. The LEA will pay this direct to the university so you daughter will never really 'see' the money.
- Maintenance Loan up to £3000-£6400 depending on where she goes uni (london or not). To be paid back when earning over 15k. Paid in 3 installments through the year.
- Grant for living costs £2700. Does not need to be paid back
- University Bursary - atleast £300 minimum. Not to be paid back.
- University scholarships - awarded based on subjects/grades.

Broke_Student

matt.forster wrote:

and have not found myself eating at my overdraft.

Use student interest free over drafts wisely! Even if you don't need it, I would say take it.

If you can have £2000 overdraft you can stick it into a 5.5% savings acount. You probably will not pay tax as income is below 5.5k. So that would earn £110 in interest per year, and over £330 over a 3 year course!

nutty1

pondie1 wrote:

my daughter(first year student)got full loan for £3250 for housing/living costs
£3000 loan for fees
£2700 maintence from LEA
she pays £3000 rent/food at northumbria

is this to be repaid

Broke_Student

kathryn -
Is your household income under 17k?
Is your daughter going to live at home/move out?
If moving out, from where to where?
Are there any special circumstances? (does she have any kids, disabilites etc...)

nutty1

income is under 17k and son will be living at home and traveling by train to collage and no special circumstances

pondie1

the loan for fees and loan for living need to be repaid,my daughter also gets £800 over the year from uni bursary,start to repay once student earning £15,000 or more after finish of course

Oldernotwiser

Broke_Student wrote:

Assuming household income is under £17k:
- Tuition Fee Loan £3000 to be paid back when earning above £15k. The LEA will pay this direct to the university so you daughter will never really 'see' the money.
- Maintenance Loan up to £3000-£6400 depending on where she goes uni (london or not). To be paid back when earning over 15k. Paid in 3 installments through the year.
- Grant for living costs £2700. Does not need to be paid back
- University Bursary - atleast £300 minimum. Not to be paid back.
- University scholarships - awarded based on subjects/grades.

KathrynT
Broke Student has got it absolutely correct including whether the amounts have to be paid back. As your son will be living at home he will receive around £3,500 as the maintenance loan. Neither the fee loan or the maintenance loan has to be paid back until he finishes university and is earning £15,000 or over. When he does he will pay back 9% of everything over £15,000 ie. if he earns £20,000 he will pay back £450 per annum. He will not count as an adult for Council Tax purposes so you will get a discount if you are the only adult at home.

On this money he shouldn't really need to run up a student overdraft but don't forget that he should be paying you something towards his keep out of this amount. It's not supposed to be just pocket money!