Is this illegal - getting student loan, no intention of paying it back

agrinnall

berbastrike wrote: »

I have almost 1/2 million in the bank

Your comment is out of touch. Many people work part time or earn £10k and live happy, simple lives. Happiness and time beats money everytime.

Yes they do, but most of those people aren't also wanting to take a large sum of money from the taxpayer with not the slightest intention of paying it back - I'd regard that as theft and you as a person of dubious morality.

System

It is not illegal. It should be. But that is our government, they are clueless. They let amazon, starbucks etc off with millions of tax per week.

esuhl

berbastrike wrote: »

It is not illegal. It should be. But that is our government, they are clueless. They let amazon, starbucks etc off with millions of tax per week.

Exactly. I wouldn't worry about legally profiting from the current system when large multinational companies are jumping through hoop-after-hoop of complex financial obfuscation to avoid paying billions in tax.

It's not a fair system, but all you can do is play by the rules and petition for the system to be made fairer for everyone in future.

silvercar

if you have 1/2 million in the bank, you may find that any income you take from it could have an impact on possible repayments.

System

esuhl wrote: »

Exactly. I wouldn't worry about legally profiting from the current system when large multinational companies are jumping through hoop-after-hoop of complex financial obfuscation to avoid paying billions in tax.

It's not a fair system, but all you can do is play by the rules and petition for the system to be made fairer for everyone in future.

I agree, although it is not really right that its my plan, but if the government are offering me a free £20k to get a degree, plus free council tax, then it is a decent option.

I may go on to earn £20k+ and happily pay it back, but they should really not allow this to happen. They give £8billion in foreign aid, that is an even bigger mockery

Mummy_george

jamesmorgan wrote: »

Also, as a student you may be able to claim other financial support, eg

a) Maintenance grant of up to £3387
b) Parents Learning Allowance of £1523 if you have dependent children
c) Adult Dependants Grant of £2668 if you have an adult who is dependant on you financially
d) Child Tax Credit of £2750 for each dependant child
e) Full council tax rebate (unless living with non-student adults)
f) Potentially free prescriptions, dentists and eye test costs
g) Numerous other student discounts

Unlike a student loan, none of the above will ever need paying back however much you earn. Just as a simple example, a married person with non-working spouse and 4 children should expect to receive over £22K/annum tax free in various grants/financial support

so i am planning on uni next year i have 4 dependants and disabled hubby and children are disabled, so i would qualify for this???

Voyager2002

Mummy_george wrote: »

so i am planning on uni next year i have 4 dependants and disabled hubby and children are disabled, so i would qualify for this???

Probably yes, but it would depend upon your precise circumstances.

Start your own thread so that other people can help.

asajj

berbastrike wrote: »

I agree, although it is not really right that its my plan, but if the government are offering me a free £20k to get a degree, plus free council tax, then it is a decent option.

I may go on to earn £20k+ and happily pay it back, but they should really not allow this to happen. They give £8billion in foreign aid, that is an even bigger mockery

Well actually not but this is not the Discussion Time forums.

If you have half a million in the bank and still want to get money out of taxpayer to fund your degree WITHOUT really giving anything back to your community, I'd find funny to listen a lecture from you about corporate giant morality.

belisha-beacon

You might get a tuition fee loan however much money you have, but you would definitely not get a maintenance loan with £500k in the bank as you would not be judged as being low-income enough to need it. It's a bit like how you can't claim benefits if you have over a certain amount of savings.

I'm not sure whether money in the bank would prevent you taking out a tuition fee loan but in any case that's money that would need to be spent on your fees so it's not going to be money you can just spend on what you like.

Ed-1

belisha-beacon wrote: »

You might get a tuition fee loan however much money you have, but you would definitely not get a maintenance loan with £500k in the bank as you would not be judged as being low-income enough to need it.

Wrong.

Everyone eligible for student finance is eligible for a tuition fee loan.

Everyone eligible for student finance is eligible for 65% of the maximum maintenance loan as this has no means testing.

Certainly you would not get a maintenance grant but that is not the same as a maintenance loan.