Help! Im confuzzled!!

pulliptears

It doesnt take much to confuse me, and this has really left me scratching my head.

I applied for student loans/grants to cover the fee's from my degree and materials ill need over the next year. Im married with 2 kids and only have OH's income, so I applied for everything I could, bearing in mind im doing a graphics degree which can get rather pricey with trips and materials.

Ive had my assesment for the year this morning, it says Im getting:

Tuition Fees of £2100 to be paid directly to the Uni.

Maintenance Loan of £4153

Supplementary Grant £752.00

Now, Im confused by the loan. I assumed Id just get a small grant so was a little surprised to see this £4153. It could make a big difference to us!

My questions are thus:

Am I really being given the £4153 loan on top of the tuition fees?

How is it paid to me?

Like I said, im easily confused!
Thanks
Jane
x

Broke_Student

pulliptears wrote: »

My questions are thus:

Am I really being given the £4153 loan on top of the tuition fees?

How is it paid to me?
x

Yes! They are giving you that £4134 in loan on top of your tuition fees. Infact everyone should recieve a minimum maintenance loan of about £2700 if thy are eligible for a tuition fee loan (in normal circumstances - full time degree, first degree etc...).

The loan will be paid into your bank account for you to spend as you wish. It is normally paid in installments throughout the year, along with the grant. The first installment will probably be during the first week of term.

By the way, if you haven't checked already, you will also probably recieve a bursary from the university of about £300-£1000 as you get a grant!

pulliptears

Thats fabulous, thank you for your help! I turned my back on education 16 years ago so this is all very new to me.

Are there any limitations on the bursary? Ive just finished my A Level and was entitled to nothing at all because OH earns just over the cut off, thats why its come as a surprise that im actually getting something!

Ive just had a huge weight lifted off me now as I wont have to worry how Im going to afford expensive art materials and a museum visit to New york!!

Broke_Student

pulliptears wrote: »

Thats fabulous, thank you for your help! I turned my back on education 16 years ago so this is all very new to me.

Are there any limitations on the bursary? Ive just finished my A Level and was entitled to nothing at all because OH earns just over the cut off, thats why its come as a surprise that im actually getting something!

Ive just had a huge weight lifted off me now as I wont have to worry how Im going to afford expensive art materials and a museum visit to New york!!

The official word on it is:

If you are a new full-time higher education student starting your course after September 2006, you may be entitled to apply for a bursary from your university or college.
You will qualify for this extra financial help if:

• your fees are more than £2,765 a year in 2007/2008, or £2,700 in 2006/2007; and
• you receive the full Maintenance Grant or Special Support Grant (£2,765 in 2007/2008, or £2,700 in 2006/2007)

But even if this doesn't apply to you, you may still receive additional help as many universities are offering bursaries to a wider section of students than this. Ask your university or college what help they offer, or use the search facility on the UCAS website.

As you do not pay a full tuition fee and recieve a full grant you should check your individual Unis policy for students for your course. Many offer a bursary to anyone who recieves any amount of grant and not just to those who recieve the full amount.

dancingfairy

It sounds like a student loan to me from the student loan company which you can apply for each year but have to pay back from the April after you graduate and is set at a certain percentage of your wage above £15000, so if you earn £16000 say you pay 9% of the £1000 for that year monthly out of your pay packet. If you earnt £20000 in a year you would end up paying £20000-15000 x 9% over the year until you had paid back all your student loan- hope that helps.

pulliptears

Ahhh looks like it wont apply to me, my fees are £2,100 a year. I will check with the uni as well though!

thanks for all the help! You have been wonderful
xx