Can I afford to study with a family?

balibali293

I'm being made redundant which has promoted me to think about returning to study. I am currently completing an access course with the ou so perhaps I could study full time on the degree I was aiming for.

But with 3 children and a disabled husband can I support the family too? With the ou, I know that I may get help with tuition fees but not living costs. I'm hoping that my current employer keeps me on freelance or at least offers me an alternative p/t minimum wage role (hopefully I could apply for tax credits?) I was on £20k +comm so this would be a drastic change for my family anyway. But at least I'd be able to work and study from home (little one starts school in sept).

The alternatives in this seaside town are, a full time degree but would I have enough to live on? Or a full time minimum job with no prospects.

DomRavioli

Hi there,

OU accept student loans, from student finance England. Best to go on their website and check your eligibility. If it is your first undergraduate degree, then you may be eligible for full fees, which you pay back once earning over a certain amount.

If you are ineligible for student loans, you can take an OUSBA account, where you pay for your course through installments throughout the life of the module (usually either 6 or 9 months, but can be three months also.) and can be accessed through the OU website.

I'd suggest you call your local OU regional centre to discuss your funding options, they will give you the best up to date advice based on your financial situation.

Hope this helps a little bit!

Voyager2002

There is a system of student grants, bursaries and loans. Along with things like Housing Benefit/LHA and income support, it is certainly possible for someone in your situation to study full-time.

I suggest that you try to see a student welfare officer at the university nearest to you: perhaps begin by contacting the admissions tutor of a department in which you would like to study, explain that you are in an unusual situation and would need to know how the finances would work out, and ask to be introduced.

Good luck!

quailpower

https://www.gov.uk/childcare-grant/eligibility

https://www.gov.uk/parents-learning-allowance

you might be eligable for these as well as student loans, best to speak to an advisor at the uni

Erinnire

The student finance package is pretty generous I think for parents and those with adult dependants.

You will get

Maintenance grants
Maintenance loans
Parents learning allowance
Adult dependants allowance (I'm pretty sure)
Child tax credits
Child benefit
Reduced council tax and probably council tax benefit
Possible housing benefit dependant on your housing situation.

If you partner gets DLA that won't be affected. He can also income related claim benefits for both of you and dependant on what grants and loans they take into account you may be entitled to some benefit but probably not during term time and slightly more over the summer holiday period when your student finance isn't counted. This is usually from the 30th June to 1st September.

I would contact the finance department at the university you are thinking of going to and ask them to give you a run down. There is lots of information online but it is quite confusing.