Benefits whilst studying after redundancy?

kroeger

Well there is the option of a Business and Management course at the same level. Ok this would build on my current knowledge base, but also I want to do something that is also interesting to me as well.

zzzLazyDaisy

kroeger wrote: »

To give some context I have three children, all living at home ages of 22, 17 and 10. The 17 year old is at college full time and the 22 year old currently unemployed.

Actually, that is largely irrelevant. The 22 yr old is not a dependent 'child' but an adult and claiming benefits in his/her own right.

The other two children mean that you can claim CB, plus CTC based on your joint family income. But your joint income (wife's income plus your student loan) will almost certainly take you over the income limit for claiming means tested benefits (student loan counts as income if you are eligible, even if you don't claim it).

Also your redundancy pay and/or any savings may well take you over the limit on capital grounds.

It is great that you wish to go to university and get better qualifications, but you need to understand/accept that, as a household, you are almost certainly not going to get your income topped up by means tested benefits while you are in full time higher education - that is what student loans are for.

miduck

kroeger wrote: »

Well there is the option of a Business and Management course at the same level. Ok this would build on my current knowledge base, but also I want to do something that is also interesting to me as well.

Are there any "Business and Management with ..." courses, perhaps that combine a language or more advanced IT skills? That might give you a broader scope for future employment?

How old is your HNC? You may be able to use this to gain credits towards an OU degree, so you would not have to do the full six years?

kroeger

Hi, there is a Business IT HND that would also lead to entry to the final year of a degree. Perhaps worth looking at.

FBaby, when I said that was impossible I meant my wifes hours increasing in her current job. Should have made that clearer. I have never been averse to working part time myself.

princessdon

I want to change direction (though have experience that will make me more employable after graduating) soon. It will cost me £18k to do my MA and I'd get zero benefits. I am currently working full time and saving so that when I do this I have money.

Did you save nothing to tide you over this year or two? If not either you or your wife will need to work more hours.

Dunroamin

OP rather than thinking about benefitshave you had a good look at what funding would be available if you were to study full time? In your situation you might be pleasantly surprised at the amount the loan/grant/bursary and extra money for dependents adds up to.

kroeger

Dunroamin, I must admit I had not considered that source of funding. I will investigate. thanks.

kroeger

Ok, it looks like I may be able to claim the following, whilst studying fulltime:


Maintenance Loan £2,750.00
Maintenance Grant £3,250.00
Adult Dependents Grant £2,642.00
Parents' Learning Allowance £1,508.00

As well as have a tuition fee loan.

Would we be able to claim child tax credit due to the low income of my wife?

zzzLazyDaisy

It is your household income that counts, not just your wife's income.

However, as far as I know, of your student funding, only the adult dependent allowance is counted as income for tax credits

Have a look here for what is included, and on the next page for what is not included

http://www.hmrc.gov.uk/taxcredits/start/claiming/income-hours/other-income.htm

As previously stated, if you and your wife between you can get an extra 9 hours work, you will also qualify for working tax credits.

Dx

DannyboyMidlands

If the area is the problem then how will you having a degree help? Economic activity in the area will not increase.

Personally and especially considering the ages of your kids, I'd be moving house. Could be good for the whole family.