Two students at uni from same household - different loan amounts 10 April 2016 at 7:46PM edited 30 November -1 at 1:00AM in Student Money Saving 10 replies 3.1K views

PinkJet

We are a household with 2 students in the same year.

We have filled in our household finances and the student finance people have now told the kids what their loans will be.

One is going to receive £7392, the other is going to receive £4949. One is going to a London uni, but I understood that £1500 would be given to the student studying in London.

Is this correct? Does the student in London get £2443 more despite coming from the same household?

[Deleted User]

Will they both be living at home or away? Or will one be home and one away?

PinkJet

They will both be living away from home.

NectarCollector

I imagine the extra cash is simply to help cover the higher cost of living in London etc... Where is the other student studying?

PinkJet

Yes, i think it is to do with the London allowance.

The other will (hopefully) be studying in the south west of the country.

CharlieRabbit01

I dont quite followin who is getting what but:

students at home will get upto 6904
students living away from home but notstudying in london will get upto 8200
students living away from home and study in london will get upto 10702

sheramber

Household income is taken into account when calculating amount of loan.

Starrystarrynight1

Is one of the courses longer than the other? That can make a difference.

Taiko

That's my thought as well. Sounds a lot like there's extra weeks study in there also.

Alternatively, SFE could've messed up and income assessed one without the other. Having not assessed since the 10/11 academic year, I'm not sure of the rates.

pleasedelete

So one ail have a lot more to pay off than the other? They don't have to take the full loan amount. They can take less.

macman

The London weighting for 2016/2017 is worth up to £2,502 for those receiving the maximum maintenance loan. The figures are £8,200 and £10,702 respectively. So your differential is similar on a percentage basis.
Most of that will be accounted for by the much higher cost of accommodation and travel in London.