is the maintenence grant limiting my maintence loan?

Hello! I need some help with a rather long-winded problem.

I've applied for both the maintenence grant, as well as the maintenence loan, and have come accross a bit of an issue.
I live with my mother who earns less then 24,000 a year.

When I worked out how much I should be receiving via the online student finance calculator, it told me I could get both the maintenence loan (£3823) and the maintenence grant (£

3354). This would give me £

7177 for the year. Happy days! I figured this amount would cover me, and I applied for student accomodation.

Now I see on here http://www.thestudentroom.co.uk/content.php?r=604-How-much-financial-support-can-I-get that my maintenence loan could be reduced to £

2146, because they take £0.50 of my loan, for every £1 I get via the grant. This would leave me with just £5500 for the year.
This wasn't mentioned anywhere on the online calculator or anywhere else I've seen.

Will I get the full grant and the loan (£7177), or just the grant and a limited loan (£5500)?

Thanks for any help.

(edited 10 years ago)

Reply 1

DarkPeople

8

To help others answer your questions accurately, could you provide where you will be studying in the UK i.e. in London/elsewhere.

(edited 10 years ago)

Reply 2

Blackham

OP

I will be studying up north in Liverpool. I applied to live in student accomodation, but now I'm not certain if I'll be able to afford it.

Reply 3

jeddows

11

I've just had a skim at the Student Finance website, and tried the calculator, and I think it shows you the amounts you 'could' be entitled to in total, already adjusted (i.e. that you should get £3823 of grant AND £3354 for the loan).

For reference, my parents are retired on decent pensions, and I'll be getting just over £6,000 in total this year, so you're figure seems about right :smile:

Reply 4

DarkPeople

8

You should be eligible to receive £3823 in loan funding with a full maintenance grant based upon the details you have provided. If it says otherwise on student finance, contact them to double check your details/situation.

Edit: you may have made a mistake in your working out :P

'upto' 5500 - 0.50(3354) = 3823 in loan funding.

(edited 10 years ago)

Reply 5

Blackham

OP

Original post by jeddows

I've just had a skim at the Student Finance website, and tried the calculator, and I think it shows you the amounts you 'could' be entitled to in total, already adjusted (i.e. that you should get £3823 of grant AND £3354 for the loan).

If it's already adjusted, that could be where I'm getting confused. I hope that is the case! Thanks!

Original post by DarkPeople

You should be eligible to receive £3823 in loan funding with a full maintenance grant based upon the details you have provided. If it says otherwise on student finance, contact them to double check your details/situation.