Student Loans and Grants- Why dont I get it?

TheDot

Hey everyone, Im just about to send the final parts of my loan application off (parents income- late i know!) and I was just wondering what you guys thought.....

I cant see why a student who recieves no suppport from his parents- who earn above the amount to recieve anything but some of the loan- throughout the uni year should recieve less support from the government/loan company than a student who's parents earn below 'the threshold'.

I have to pay for my own course fee's, accomodation and living costs and although my parents earn above the amount the loan company deem too high I dont receive anything from them and I dont expect it to be honest- the decision to go to university was mine.....as an adult.

So why dont I recieve the same grants, loan amount and course fee payment as any other student who's parents dont/cant support them?

Just wanting you opinions and advice on this whole thing?

cheers, TheDot :j

Bennifred

Speaking as a parent, I completely agree with you, TheDot! I thought 18+ year olds counted as independant adults these days :rolleyes: Also the authorities make a huge assumption about parents' ability to support their offspring at Uni, with no regard for number of other dependants, size of mortgages etc. etc. Our eldest is going to be in the same position as you in Sept (well - fingers crossed for results ), and is already worrying about the money side of things. Not ideal when there is so much other new stuff to take on board.... Hope it's worth it!

pavlovs_dog

firstly, everyone is entitled to 75% of the student loan, regardless of parental income etc etc etc. it is your eligibility for fee support, grants, the final 25% of the loan that is means tested.

the problem with means testing is that it is characteristically flawed by assume everyone will fit a homogenous picture/situation. this is not the case, and many people suffer because of it.

for every well-to-do pampered prodigal son or daughter who receives the 75%of the loan and ten times more from daddy, there is a student, perhaps from a poor family who cant afford to support their offspring no matter how badly they would like to, perhaps from a relatively well off family that, for whatever reason, are not prepared to fund their childs further ed, who also gets just that 75%, but unlike their counterpart has to struggle to find the money to pay fees, rent, buy books, eat etc etc.

i was, in a sense, lucky, that i had legitimate grounds to claim independent status (due to family breakdown), and got full support from the government. but in many sense, unless you are money wise, how much you get given is irrelevant if you dont know how to get the most from every single last penny. yes, i get the full loan, but im also holding down 2 jobs, so no one can accuse me of sponging and resting on my laurels.

what is likely to set you apart from you peers is respect for money, and an understanding of its value. armed with that, you will be able to stretch a pitance far further than the pampered prodigals can stretch a fortune much bigger than your own.

on a final note, the sad reality of studenthood is that you will graduate in debt. accept it, and decide whether you are going for damage limitation (graduate owing just your loan), or are you going to set yourself up for adulthood drowning in overdrafts, credit cards and the like?

to ease your financial situation, you may like to consider asking other relatives (eg grandparents) if they could help with your predicament, seek scholarships, sponsorship, employment, ebay, finance support dept of your uni.

keep positive, keep control of your spending, and it is possible. you're not the first student to do it, you wont be the last.

good luck, and enjoy it

sockospice

You know, that's what always confused me, about this system of loans, and the former system (1998 onwards) - why is it that students from poorer families have to borrow more, get themselves deeper into debt, than students from rich families? I was entitled to receive 100% of the student loan, which just meant that I had a few grand more debt than rich students.

lady_lucan

Yep, sadly university is an *industry* these days, pure and simple, and you need to make sure you get what you pay for and work very hard to get the top grades, otherwise it's a total waste of time and money. I did my first degree before the rule changes, and had to take my (low-earning) parents to court to get my forms signed due to family breakdown - great eh? Mind you, I ended up getting a First, a Masters and am now half way through a PhD!

dag_2

I have to pay for my own course fee's, accomodation and living costs and although my parents earn above the amount the loan company deem too high I dont receive anything from them and I dont expect it to be honest- the decision to go to university was mine.....as an adult.

So why dont I recieve the same grants, loan amount and course fee payment as any other student who's parents dont/cant support them?

Correct me if I'm wrong, but once you hit 25, your parent's income is no longer assessed for the purposes of your entitlement to the means-tested element of a student loan.

So the fact you even think it's a problem tells me you're under 25, and aren't prepared to wait to start college.

But that's fine. Sometimes, parental income is not counted for people under 25 either - but this generally only applies if you have children of your own, or are able to prove that you live independently from your parents. I'm not sure how you go about doing this - but if there's only a few months in it until you turn 25, I'd suggest it's simpler just to wait.

miss_loop_2

I'm off to uni in october, and i've got to pay my own way and everthing, yes I got my loan and stuff, but i'm still going to be on my own finance way...

it's screwey

fragster

it may not seem fair if your parents aren't planning to support you but you do already know this and truthfully it shouldnt affect you that much. parents are expected to make up the part of the student loan which you wouldnt get paid, which is around £1000 a year, so over 3 years about 3k. now really that doesnt make that much difference, if you are prepared to work whilst at uni you should be able to make £5k a year anyway, probably more including working over summer.

So whilst it may not seem "fair" thats life for you, uni is totally worth it for the experiences in general, it really gives you independance and i think the lessons i have learned at uni will help me for the rest of my life. Sure, i'm in a fair amount of debt now, but i'm prepared to deal with it, uni is everyones choice, if you aren't prepared to deal with it then don't go.

may sound a little harsh but you have to face up to decisions, and however unfair they seem it doesnt mean they will change or go away if you moan about it enough. many people are in similar or worse situations, you should keep it in perspective. make sure you consider it carefully and for the long term, say you leave uni with 20k of debt, is it worth it to you? it was to me, and i've got no regrets.