Mature Student at 46 Student Finance Check

kroeger

Hi,

I have been doing some research and believe that I can claim the following each year if I go back into full time higher education. My wife works 15 hrs a weeks earning minimum wage (approx £4350 per annum) and I have two children under 18 at home. One at school (11) and one at college (18).

Could someone please have a look and let me know if I am on the right track:

Maintenance Loan £3,823
Maintenance Grant £3,354
Parent's Learning Allowance £1,508
Adult Dependant's Grant £2,642
Child Tax Credit £5,876
Child Benefit £1,752

Plus tuition fee loan of £3000 per year.

I believe I can make the household budget balance with the above. Cheers

zzzLazyDaisy

You might get a better response if you post this on the student forum.

Beachview_2

I'm a part time mature student. I got a grant of £260 and my fees paid. That is all. I receive carer's allowance and income support. According to the rules of the social security agency, I'm allowed to work 16 hours per week, though of course some of this allowance is used up by class time, as they take that into consideration too.

I've never heard of the Adult Dependant's grant, as I am caring for an adult.

Dunroamin

Beachview wrote: »

I'm a part time mature student. I got a grant of £260 and my fees paid. That is all. I receive carer's allowance and income support. According to the rules of the social security agency, I'm allowed to work 16 hours per week, though of course some of this allowance is used up by class time, as they take that into consideration too.

I've never heard of the Adult Dependant's grant, as I am caring for an adult.

Funding for part time students is totally different from funding if you're full time.

jobbingmusician

I agree that you will probably get far better information if this is on the students' board, so will move it.

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere (please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email forumteam@moneysavingexpert.com.

kroeger

Hi, no problem, was not sure which forum to post it in. I have completed the student finance calculator on the Government website, so got the figures from there. Would be interested for opinions from people in a similar position to myself, or who have recently been in this position. The only issue I can see if regards child tax credit. When I complete the calculator it asks for income from previous years when calculating, but surely this will be irrelevant, as I will be unemployed when I make my claim. My household income will be less than £4350 per year, so from what I have read I should be able to claim the maximum for this credit of £113 per week?

It is all very complicated and I have a lot of decisions top make in a short period of time. I will be out of work by the 31 May, but this is also the deadline for applying for student finance for courses starting Sep 2013. This puts me in a bit of a spot, as to apply before the deadline I will technically be in employment (albeit only for several days at most) or do I state I am unemployed?

Dunroamin

kroeger wrote: »

Hi, no problem, was not sure which forum to post it in. I have completed the student finance calculator on the Government website, so got the figures from there. Would be interested for opinions from people in a similar position to myself, or who have recently been in this position. The only issue I can see if regards child tax credit. When I complete the calculator it asks for income from previous years when calculating, but surely this will be irrelevant, as I will be unemployed when I make my claim. My household income will be less than £4350 per year, so from what I have read I should be able to claim the maximum for this credit of £113 per week?

It is all very complicated and I have a lot of decisions top make in a short period of time. I will be out of work by the 31 May, but this is also the deadline for applying for student finance for courses starting Sep 2013. This puts me in a bit of a spot, as to apply before the deadline I will technically be in employment (albeit only for several days at most) or do I state I am unemployed?

Some of that student funding counts for CTC; I 'll try to check which parts.

ETA

This explains which elements affect CTC and also what to do when your income has dropped from the preceding year's level.

http://www.nus.org.uk/en/advice/money-and-funding/other-sources-of-funding/students-and-tax-credits/

fishybusiness

Not far off, although Adult Dependents Grant could be iffy - My knowledge extends to receiving it for a partner that has no income. That was 3 years ago.

In our house we have one child, 6 years old, both HE students, we each receive about £4600 Maintenance Loan, Special Support Grant £2900, Parents Learning Allowance £1500, plus Child Tax Credits, £61 per week, Housing Benefit, CT Benefit, Child Benefit £20 a week for our household.

Obviously plus the fees loans.

We budget very tightly, and have it all in a Excel spreadsheet, including bank balances, so we know how much we have each term.

Through the summer we are allowed to work, we start by claiming JSA, and if the work is there take it.

kroeger

That's interesting, I did not think I could claim housing benefit if I was not claiming income support. Will check this out.

Dunroamin

kroeger wrote: »

That's interesting, I did not think I could claim housing benefit if I was not claiming income support. Will check this out.

As a full time student you're not eligible to claim HB although your wife may be able to. Rather more of your student funding will be taken into account for this than for CTC.

V_Chic_Chick

Your tuition fees will be fully covered by a tuition fee loan, up to the tuition fee cap of £9000 (not £3000!)

You should also be eligible for a bursary from your uni. Details of that will be available on the university's website, and vary considerably.

If the 11yo is still in need of childcare, then there is a childcare grant available for that too.