Reclaimed PPI, Benefits and Student Loans

ZaphodBeebledoc

Yesterday I had four different offers re different loans from my ex-bank. These total over £5000!

However, we are recieving different benefits and supporting one of our sons through university.

How can I recieve the most from the payouts while still getting the benefits and not affecting our sons university education?

societys_child

I don't understand, surely the money will help your son through uni? The only way it could affect his education would be in a good way?

ZaphodBeebledoc

To clarify, we are supporting his appliction for the student loan, not actually financially supporting him.

Our total household income for the financial year 19-20 is around £26,000. Only £9,000 of that is taxable and this is what the Student Loans want to know about. (Certain benefits are not counted.)

Half of the money being offered by the bank is the actual refund and *not* income, the other half is. This is just over £2,500.

I've done a bit more research tonight, and I believe that the course loan itself is not affected by parents income, just the maintenance loan. (Which is for things like travel, food, etc.)

So I think that as the counted household income is under £25,000 it won't make any difference to the maintanance loan my son will recieve.