We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Student maintenance loan and Salary Sacrifice
Not sure if this is the right forum for this but here goes.
My step-son wants to go to university next year so will be taking out a student loan. My understanding is that he can get a Student Loan for the full amount of the course, £9250/year.
However, he will need to live so will be getting a student maintenance loan as well as a part time job so that he can pay for accommodation and living expenses. This is known as a "maintenance loan for living costs" and how much he can get will depend on our household income.
I earn just over £40k/year and my wife just under £20k/year. If I put £60k into the online calculator it says he would be entitled to a maintenance loan of £4331/year. However I notice that the criteria is taxable household income.
I salary sacrifice for my pension down to £27k/year so is it legitimate for me to put this figure into the calculator making out household taxable income £47k? This would increase the maintenance loan he was entitled to upto £5954/year. This should just about pay for his accommodation.
https://www.gov.uk/student-finance-calculator
My step-son wants to go to university next year so will be taking out a student loan. My understanding is that he can get a Student Loan for the full amount of the course, £9250/year.
However, he will need to live so will be getting a student maintenance loan as well as a part time job so that he can pay for accommodation and living expenses. This is known as a "maintenance loan for living costs" and how much he can get will depend on our household income.
I earn just over £40k/year and my wife just under £20k/year. If I put £60k into the online calculator it says he would be entitled to a maintenance loan of £4331/year. However I notice that the criteria is taxable household income.
I salary sacrifice for my pension down to £27k/year so is it legitimate for me to put this figure into the calculator making out household taxable income £47k? This would increase the maintenance loan he was entitled to upto £5954/year. This should just about pay for his accommodation.
https://www.gov.uk/student-finance-calculator
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards