[Audigex]

Hey

I'm just trying to get my head around a student loan issue: my household income is just (£500 or so) below the amount to get the full loan amount+grants. I have some money in a trust fund: specifically it's just enough to push the household income over the line and I can only withdraw it in a chunk.

If I leave it in the trust account, it's not actually my money, it's being held in trust for me: so it doesn't count towards any incomes whatsoever.

However, if I withdrew it, would I have to declare it to the Student Loans co and risk losing some of the grant/loan? Obviously it wouldn't be worth me doing it, as it's not really very much money and I'd just lose an equal/larger amount of grant. Any thoughts?

[HGMedic]

Savings don't count as income. So no, you wouldn't have to declare it and it wouldn't affect your student loan amounts.

And also, are you aware that the student finance deadline has passed?

[Audigex]

Yup, I'm aware that it's passed: and since this is my final year I don't have to worry about next year. What I mean is: do I have to let them know if I withdraw it from the savings account to my current account? Does that count as income? Does it even matter since it would be income within the year rather than during the time my parents' income is counted for?

ie do I have to let them know if I withdraw it to my current account, and would it make a difference to this year's loan if I did?

[hypocriticaljap]

Interest on savings does count as income but your income doesn't count at all, only your parents'.

[Audigex]

Perfect, thanks a lot :-) that makes life a little easier.