Student Finance overpaying me

CrazyMango73

Hi all,

So I am now well into my third year at University studying in Nottingham doing an integrated Master's course. The previous two years, I applied for the maintenance loan and always received 4.5k (the minimum). 

For some reason, this year I received £10.2k and I have no idea why. So far, I have been putting the extra money away and haven't used it at all. However, I am struggling financially having just bought a car and find myself needing to dip into it.

I contacted Student Finance twice myself and my father also did too. Each time, Student Finance said there were no mistakes on their side. My parents are also adamant there was no mistakes on their side. Clearly, something is not right since we aren't a low income household and we always qualified for the minimum loan only.

I have also been offered the bursary too because of this. Can anyone make sense of this/advise me on whether/not to use the extra money?

_Dolly_Rocker_

Log in to your online account and look at your payment schedule. 

It will tell you how much you are receiving for the year including any loan or grants. 

It's hard for anyone else to know what the payments could be for. 

silvercar

Moving this to the student board.

marcia_

 Is it possible you have been switched/paid a masters loan instead given you are studying an integrated course? https://www.gov.uk/masters-loan/what-youll-get

beckstar1975

 If you are getting a bursary then logic dictates SFE have told Nottingham that you’réa low income household, if you ticked you consented to share when applying for funding they will automatically tell the uni the household income (if they ask). So it sounds like they think your income is <£16k

 is there anywhere in your account you can see last years application/figures? If not you might be able to get them to agree to an in year assessment using this years household income and see if that comes out with a different amount.

 Son is also at Nottingham, so gorgeous. Hope you’re enjoying it

silvercar

One observation is that often families who are obviously only going to get the minimum loan don’t bother completing the parent finance options and just apply for the minimum. Why go through the hassle when you know what the result will be.

That aside, I wonder whether there is someone with a similar name or student loan ID pulling their hair out because they have only been given the minimum when they should have the max.

One thing for sure, if SFE realise they have made a mistake they will demand the excess back, so sensible to keep it aside pending its potential return.