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My son has just left University, and has saved £13,000 of student loan, which is still in his account... The only reason he still has this money is because we his parents have financed him for the past 5 yrs during his time at college and university,... his claim for JSA has been capped at £28 p/w, instead of £56.80, due to him having more than £6000 in his account....
So, you are saying that, because you have chosen to finance him through college and Uni, he has been savvy enough to save £13k. But, because *you* have financed him (and he's saved the surplus), he is now being penalised from getting state handouts because his savings are above £6k?....Had we been on benefit and live in government paid for council property we could see some one in 3 days!
Swings and roundabouts really.
If you were able to indulge your sons living costs, to the point where he was able to make £13k savings on student loans, well, I'll leave that comment unsaid
The bottom line is: he has £13k in savings and is still entitled to claim £28 per week in JSA!!!! Bonus! Considering the benefit system was (initially) designed to keep people out of the work house :rotfl:
If he *only* had £6k in savings he could claim double that in JSA? Double bonus!!!
With a degree, surely it is true to say he should be in a far better/stronger position to get a job than someone who is on the breadline, with no savings, no degree and having to survive (hand to mouth) on £56.80?
He has a degree, he has £13k in savings (gee, thanks bank of Mum & Dad) and ... you are *moaning*!!!????
Seems, while you may never have bought into the benefit culture ... you have a son who most definitely is :rotfl:
Maybe you could work on the "attitude" side of things? Just saying0 -
So firstly regarding Job Seekers Allowance.
You should have a look online at how to qualify before you wander in saying you have more than 5K in the bank. As the money for Job Seekers is for those who need it.
Your son has more than six months average wage sat in his bank regardless of who it belongs to.
The 20k is only payable when you hit the qualifying amount.
From MSE Student Loan page.
"You repay 9% of everything earned above £16,365 a year. Before April 2012 this was £15,795. So earn £17,000 and you'll repay £57 a year; earn £30,000 and it's £1,230 a year for a student loan started before 2012"
Why don't people research these things before they take them out?
And why do they expect handouts when they have money?
I've been living off my earnings for 5 months as I left finished a Maternity Cover role. And I haven't tried to claim anything yet as I had money in my bank. And it isn't over 5k.
Hope your son finds a job soon.0 -
Your son is in a hell of a better position than a lot of students who graduate with not a penny to their name and sometimes even student overdrafts because their parents couldn't finance their studies for their full degree.
Benefits were brought in as a safety net to stop people falling into poverty because of their circumstances. Please tell me how your son qualifies as this when he has 13k sitting in the bank??
How long has he been graduated for? Surely if he's this year's graduates he'll find a job soon, it's pretty early doors of them as they've only got their results a month or two ago and they have to compete with every other graduate in your area whose seeking employment at the same time as them. I'm sure he'll find something soon and get off JSA, in the mean time instead of worrying about the future and paying off student loans spend some of savings for now on his living costs. Savings are for a rainy day and while it's a nice idea paying off your son's student loan (with the loan money he has because you funded his studies) I don't see why he should get his loan paid off early and then taxpayers funding his day to day costs.0
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