Student Loans and Isa?

JohnDep_2

Hey all, Was talking to a freind about Student Loans and just mentioned I was re-jiggling my savings from Premium Bonds and Child Bonus accounts into my e-Isa and an E-savings (rates far better!) (All money given by family throughout my life - I intend to use it on my 21 birthday on a nice shiney new car)

He told me to stick it in someone elses name because if Student Loans hear about it they will want a slice of the pie!

Is this true?

Lokolo

lol why on earth would they want it? its not income its already yours.

tell your friend he is wrong, its your money do you what you like with it.

Helix

You only have to declare the taxable interest you earn on your savings. So if its in an ISA you don't have to declare it.

Lavendyr

You do not have to declare any money held in ISAs, even when applying for student finance. However if you have any income from interest on savings or investments which are not wrapped in an ISA (or pension), I think you need to declare that when you apply for student finance. It likely won't be enough to make any difference to the amount they are prepared to lend you when you're income-assessed, but best to be honest.

Blacksheep1979

this is complete b0ll0cks and you're friend has been smoking too much of something