Training at uni & finance

Ben19934 · 27 September 2013 at 6:34PM

I was wondering if some one could help me with this as I cant find anything online. Basically from may 2014 I will have a large inheritance from a passed away family member close to the sum of £30,000. now in September 2014 I am going to college to do an access course to enable me to go to uni. This course is a year then I hope university can become an option. the trouble im finding is when I go to uni I want to apply for grants and loans as you do, will my inheritance have any impact or stop me getting any of these? if it does stop me and I have to pay for uni out of my own money will I get help when im out of cash?

thanks

theoretica · 27 September 2013 at 8:02PM

You should be OK - back in my day student finance was calculated off income, using the same definition of income to the income tax people and most inheritance is taxed before you get it, not as income.

Jakg · 28 September 2013 at 8:45AM

I dont think student finance requires you to disclose a lump sump, but if it's in an interest earning account (it really should be - that would be nearly £70 a month pre-tax interest!) you have to declare the income.