Student finance and mortgage

j.taghi

Hi all,

I am a mature fulltime student and getting support from student finance company. This support includes adult grant & tuition fee support. The amount of grant I am receiving is calculated based on the monthly rent that I was paying when I applied for this grant.

I recently bought a house and the mortgage is about £400 more than the rent that I was paying before. DO you think that if I let student finance company know about this change, they will increase the amount of grant they are currently giving me?

Many thanks...

GMS

You want somebody to pay you to rent your own house?

j.taghi

Well, I think they will help people with this kink of financial obligations, wont they?

The reason Im saying this is that I have seen on their website that they ask to list all financial obligations. This made me think that actually they might help in this situation as well.

At least I hope so!!

Yorkie1

You will only find out if you ask them. None of us can predict their answer.

However, I would observe that you chose to increase your monthly outgoings by taking on this mortgage and working towards house ownership. You may find that they are not prepared to give you more money based on a voluntary choice of yours.

I don't know whether the fact that you are no longer renting will actually lead to a decrease in the grant, either now or in the future. Did you ask them about this before getting the mortgage?

dimbo61

I would read up on the student finance website
You have received a GRANT which you do not have to pay back ( you have to pay back any loans)
But you are no longer paying rent as you have now bought a property.
take on a lodger?

opinions4u

What income did you declare to obtain the mortgage?

bubblegum1985

yes you need to tell them of any changes in circumstances.

buying a property could decrease your entitlement and failure to declare fraud.