Dad Made Redundant- Am I Entitled to Bigger Loan?

Basically, I am a student who is living away from home.

Before I left for uni, the household income for my parents wasn't exactly massive, but it did prevent me from getting anything above the minimum loan (£940).

Unfortunately, about a week after starting my course, my dad was unexpectedly made redundant from his job. With my mum's income and the income my dad has earned so far for this year, my household income will be £40,000. The problem is that my dad is telling me that he doesn't know how he can afford to pay for my accommodation (which is as cheap as it can be within the university as it is) as well as paying for my living costs.

I've been looking on the SAAS website, and apparently this level of income would entitle me to a significantly larger loan. Do you think they'd take my change in financial circumstances into account, and allow me to reapply for my loan?

Reply 1

Supawoman

First port of call, do you have a finance advice centre or student support office in your uni that you can go speak to? They may be able to let you know whether there is any funding that they can tap into to help you such as the access fund for students who find themselves in financial hardship.

Give Student Finance England a call, they may be able to check to see if you can get more on the basis that your family has had a change in circumstances, i.e. income into the household reduced. It may mean your parents providing student finance with their updated income situation and figures etc but it's worth a try if it means you can continue to afford to be at uni.

Reply 2

FAMAS

OP

Original post by Supawoman

First port of call, do you have a finance advice centre or student support office in your uni that you can go speak to? They may be able to let you know whether there is any funding that they can tap into to help you such as the access fund for students who find themselves in financial hardship.

Give Student Finance England a call, they may be able to check to see if you can get more on the basis that your family has had a change in circumstances, i.e. income into the household reduced. It may mean your parents providing student finance with their updated income situation and figures etc but it's worth a try if it means you can continue to afford to be at uni.

Thanks, there is one actually, I'll check . I'm actually Scottish, studying at a Scottish uni and I'm covered by Student Awards Agency Scotland (SAAS) so I'll check with them. Does anyone know what the practical differences of this are? This is really stressful for me, so thanks for answering.

Dad Made Redundant- Am I Entitled to Bigger Loan?

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