Student Finance - current year dropped by 60pc, but never claimed before

point5clue

Hi All,
I have one child currently in second year, another about to start this Autumn.  In the past I have been fortunate to have earned above the upper limit for living costs, so have never applied.  This tax year just ending I will have earned a lot less (well below the upper limit).  

I was planning to submit an 'Current Year Income', but I have noticed on the site it says "To apply, you must have already created an online account and given information about a previous tax year."

Has anyone done this already?  I think I read somewhere else that you should not apply for an online account until you child has confirmed their offer.  My youngest hasn't yet picked main and insurance choice so I haven't done anything yet.

Any tips or advice ?

hsh68

Hi we are in a similar position. Yes you need to apply online using last year’s tax return figures and then on 6th when the new tax year starts an application for  the current year’s earnings will become available. Not sure about applying before your youngest has confirmed their place. Our daughter applied and then we were emailed once she had submitted her application. 

point5clue

Thanks hsh68 - she's still not made a decision and the older one hasn't applied for next year yet so I think I'm going to have to make a standard application, then immediately request a CYI assessment. 

If I remember I will post back here with what I find out.

point5clue

In the end, the older one put in his application for the coming year, and this triggered an invitation for us to create accounts and submit income for 21/22.  As soon as I had done that I was then able to print off the CYI assessment and actually give details of the 23/24 year - that form is now in the post - no idea how long it will take for them to work through the electronic form and then the paper one, but I think the process is complete from my end.

zagfles

point5clue said:

In the end, the older one put in his application for the coming year, and this triggered an invitation for us to create accounts and submit income for 21/22.  As soon as I had done that I was then able to print off the CYI assessment and actually give details of the 23/24 year - that form is now in the post - no idea how long it will take for them to work through the electronic form and then the paper one, but I think the process is complete from my end.

It is for now but you'll need to update them again at the end of this tax year with actual figures as you can only have given them an estimate. If the estimate is wrong there could be an over/underpayment.