Student Loan Calculated Wrong?

samsong_1234

It says the maximum you can apply for when you are studying in england (when your from northern ireland) is 4510.

yet i was told today that because i have applied for a maintenence grant, the maximum i can get for a maintence loan is 3385.

of that 3385, i have then had 1730 deducted off that as that portion is being met through the maintence grant.

Thus for a maintence loan i am getting 2780, which doesnt cover me accomadation for the year.


when i rang both the local education authority and studentfinance, both of which i found extremley unhelpful, they said it was right and that was it.

MY question is, is it right??

Gemmzie

They take a chunk of the loan off and add it to your maintenance grant because the grant doesn't have to be paid back, so it's to your advantage to have the biggest grant possible.

dmg24

Yep, Gemmzie (and the SLC) are correct, although it does seem to be a common misunderstanding.

Rikki

I think you will find this standard practice.

You need to check with the university as you may be entitled to a core bursary from them as well as your maintenence grant. Non repayable.


EDIT: To add you will have you maintenence loan and your maintenence grant.

Perversia

Your non-means tested part of your maintenence grant is taken off your loan but you do still end up with the same amount of money in the long run. They've really not made that clear though as I didn't realise either.

student_advisor

samsong_1234 wrote: »

of that 3385, i have then had 1730 deducted off that as that portion is being met through the maintence grant.

It should be worked out the following way:
£4510 is the maximum loan not living at home, not living in London

If you're eligible for the maintenance grant, the first £1235 of that is paid in substitution for £1235 of loan.

Therefore, if you are eligible for maintenance grant of £1235 or more, you should receive £3385 loan. No more deductions should be made as parental income at this level will not affect loan amount.

Looks like they've made one deduction too many. Ring again and ask them to explain why the second deduction of £1730 has been made. You can also contact your uni's student services team to help you. If you're not happy with the level of service you receive from your LA or the SLC,you should complain and explain why it was unacceptable.