Year 12s: what will be the first way you research your future options? >>

Question regarding Student Finance & Bankruptcy.

Hi there.

I would appreciate anybody that would be able to help me out on this matter.

I'll be attending University next year and i'm in the process of sorting out my Student Finance.

During my application i've hit a stumbling block when it's come to my parents financial details. In previous years my parents (self employed) have been in the £250,000+ wage bracket. In the last 2 years their company has hit serious financial difficulty in the economic decline, and they will be declaring bankrupty next month.

Now my question is regarding what financial information to input for them. Do i declare their future bankrupty earnings (what they'll be earning whilst i'm at university) or their current income as we speak? the time i send off my finance application they will not be bankrupt, yet they will be nexxt month and throughout the start of my university career.

Any help would be appreciated as i'm in a bit of a pickle.

Thanks.

Reply 1

hypocriticaljap

you must apply using the info for 2009-10
THEN
once you have been assessed you download the current year assessment form here

http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/documents/digitalasset/dg_196602.pdf

and send it in with estimates for 2011-12. You will then be reassessed and your folks required to provide proof at the end of the financial year.