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    • JamieBadman
    • By JamieBadman 5th Jul 19, 11:06 AM
    • 3Posts
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    JamieBadman
    Student Loan: Should I provide my financial info for my son's application?
    • #1
    • 5th Jul 19, 11:06 AM
    Student Loan: Should I provide my financial info for my son's application? 5th Jul 19 at 11:06 AM
    Hi

    My son has applied for a student loan and I've received an email asking for my financial information in order for them to determine what he should receive.

    My yearly income is in excess of 90K.

    If I fill in the financial information they require, is it possible that he will receive LESS than the amount he'd receive if I don't provide any information at all?

    I'm concerned that providing my info may actually prove to be detrimental.

    Anyone know the situation here?

    I'd also love to understand why I, as a parent, am assessed for this at all - his course is 5 years - he'll be 23 when he finished - yet his eligibility for a loan is based on his parents income. Why is this?
Page 1
    • Ebe Scrooge
    • By Ebe Scrooge 5th Jul 19, 11:23 AM
    • 4,352 Posts
    • 3,875 Thanks
    Ebe Scrooge
    • #2
    • 5th Jul 19, 11:23 AM
    • #2
    • 5th Jul 19, 11:23 AM
    It won't make a difference in your situation. If you don't supply details of your income, he'll be awarded the non-means-tested portion of the entitlements (which is what everyone is entitled to). If you supply your details, he'll be assessed to see what additional funding he's entitled to, based on household income - which will be nothing based on your income. So the net result will be the same.

    The reason you're being asked for your income is because part of the loan/grant entitlement is means-tested - parents on incomes above a certain level are expected (rightly or wrongly) to contribute to their children's university costs.
    I may not know much about art, but I know what I like.
    • JamieBadman
    • By JamieBadman 5th Jul 19, 11:25 AM
    • 3 Posts
    • 0 Thanks
    JamieBadman
    • #3
    • 5th Jul 19, 11:25 AM
    • #3
    • 5th Jul 19, 11:25 AM
    Thanks - so there's no possible way that by providing my info he'll receive less than if I don't provide it at all?

    Will it slow down his application if I don't provide? Just trying to figure out if there's any reason to complete the forms.
    • JGB1955
    • By JGB1955 5th Jul 19, 11:31 AM
    • 234 Posts
    • 260 Thanks
    JGB1955
    • #4
    • 5th Jul 19, 11:31 AM
    • #4
    • 5th Jul 19, 11:31 AM
    Student Maintenance Loans are means tested. If you don't provide the information (which is cross-checked with HMRC records) how can a decision be made?
    • JamieBadman
    • By JamieBadman 5th Jul 19, 11:32 AM
    • 3 Posts
    • 0 Thanks
    JamieBadman
    • #5
    • 5th Jul 19, 11:32 AM
    • #5
    • 5th Jul 19, 11:32 AM
    So if I don't provide any info my son will receive nothing at all? Are you sure about this?

    Pretty sure this is wrong.

    My question though is whether I can actually do harm by providing info (seems I can't) and whether if I don't comply if this slows his application down (why should I share financial data if it makes no difference?).
    • Ebe Scrooge
    • By Ebe Scrooge 5th Jul 19, 11:40 AM
    • 4,352 Posts
    • 3,875 Thanks
    Ebe Scrooge
    • #6
    • 5th Jul 19, 11:40 AM
    • #6
    • 5th Jul 19, 11:40 AM
    If you don't supply the information it will slow down his application. The process goes something like this :

    1. Application received
    2. Evidence of income is requested
    3. When evidence is received and reviewed, the application is assessed and the award is calculated.
    4. If no evidence is received, several more attempts are made to ask for evidence, before the application is reviewed by a supervisor - at which point the applicant is given the option of cancelling their application or receiving the non-means-tested portion only.

    That's a simplified version, but the bottom line is yes, you'll slow down his application by not providing the evidence requested. He could, of course, just apply for the non-means-tested portion in the first place, then there'd be no need for you to send in anything.
    I may not know much about art, but I know what I like.
    • northwest1965
    • By northwest1965 15th Jul 19, 6:36 AM
    • 1,851 Posts
    • 4,654 Thanks
    northwest1965
    • #7
    • 15th Jul 19, 6:36 AM
    • #7
    • 15th Jul 19, 6:36 AM
    Student Maintenance Loans are means tested. If you don't provide the information (which is cross-checked with HMRC records) how can a decision be made?
    Originally posted by JGB1955
    If you are earning over 62212.00 the amounts for Maintenance Loan are 3414 if at home, 4168 outside London and 7103 London..

    Have I got that correct??

    https://www.savethestudent.org/student-finance/the-big-fat-guide-to-student-finance-2012.html#maintenancefunds
    Loved our trip to the West Coast USA. Death Valley is the place to go!
    • silvercar
    • By silvercar 15th Jul 19, 8:22 AM
    • 39,283 Posts
    • 163,173 Thanks
    silvercar
    • #8
    • 15th Jul 19, 8:22 AM
    • #8
    • 15th Jul 19, 8:22 AM
    It was a few years ago (but only a few years), there was a box to tick somewhere to only apply for the non means tested element. That made the application much quicker.

    For a non- means tested (or high income home) the amount in England for a student studying away and outside London is 4168.


    https://www.gov.uk/student-finance-calculator/y/2019-2020/uk-full-time/9250.0/away-outside-london/65000.0/no/none-of-the-above
    Last edited by silvercar; 15-07-2019 at 8:26 AM.
    • w06
    • By w06 15th Jul 19, 5:46 PM
    • 860 Posts
    • 1,188 Thanks
    w06
    • #9
    • 15th Jul 19, 5:46 PM
    • #9
    • 15th Jul 19, 5:46 PM
    If you decide not to provide the information, tell them and him that you're not providing it, rather than just ignore the request, because it will slow the approval down and at this time of year he only has a couple of months to get it sorted
    • Spendless
    • By Spendless 19th Jul 19, 4:17 PM
    • 20,549 Posts
    • 34,343 Thanks
    Spendless
    It was a few years ago (but only a few years), there was a box to tick somewhere to only apply for the non means tested element. That made the application much quicker.
    Originally posted by silvercar
    It was there last year, we ticked it. Son started Uni Sept 18. Don't know about this year, I lost my job and we were wondering (hoping!) that this made a difference to son's loan, - it didn't!

    OP- Does your son live with you? You haven't made that clear.
    • silvercar
    • By silvercar 20th Jul 19, 6:14 PM
    • 39,283 Posts
    • 163,173 Thanks
    silvercar
    It was there last year, we ticked it. Son started Uni Sept 18. Don't know about this year, I lost my job and we were wondering (hoping!) that this made a difference to son's loan, - it didn't!

    OP- Does your son live with you? You haven't made that clear.
    Originally posted by Spendless
    You can ask to be assessed on this year rather than last if your income has dropped significantly.
    • Spendless
    • By Spendless 20th Jul 19, 9:23 PM
    • 20,549 Posts
    • 34,343 Thanks
    Spendless
    You can ask to be assessed on this year rather than last if your income has dropped significantly.
    Originally posted by silvercar
    We checked that afterwards, but husband's income plus benefits in kind (company car)means son is still entitled to the minimum, even without my income.
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