The Student Room Group

Student Finance are giving me 2 grand less than they previously said

Hey,

Whilst my parents financial details were still being processed Student Finance said I was entitled to a £7000 loan. Since my parents details have been processed it says that I'm getting almost £5000. I'm studying in London and I'm living at home at the moment, but I will be moving into halls within the next two weeks (I've just secured a place as someone else is moving back home so I'm taking their room). Could this have something to do with it? My term time address is the same as my home address because I didn't have the address of the halls I would be moving into or if I'd even get halls.

Has this happened to anyone else?
Thanks in advance
Reply 1
You'll get less money if you're living at home, than you would do if you're living away from home. However if you said on your application that you were going to live at home, then that shouldn't have caused the discrepancy.

Apart from that, all I can think is that when the detailed paperwork for your parents' income was reviewed, it was higher than expected when the initial estimate was given.

If you said on your application that you were living at home and you'll now be living away from home, you could contact SF and ask if they'll reassess you on that basis. You should be able to get a little more money, although it might not be the £2000 difference between the initial estimate and the actual payment.
Original post by Klix88
You'll get less money if you're living at home, than you would do if you're living away from home. However if you said on your application that you were going to live at home, then that shouldn't have caused the discrepancy.

Apart from that, all I can think is that when the detailed paperwork for your parents' income was reviewed, it was higher than expected when the initial estimate was given.

If you said on your application that you were living at home and you'll now be living away from home, you could contact SF and ask if they'll reassess you on that basis. You should be able to get a little more money, although it might not be the £2000 difference between the initial estimate and the actual payment.


Oh and another thing, it says "This does not take your household income into account." in the summary of your application section.
On my application I did say I was gonna be living elsewhere. And when I used the student finance calculator with my details, it says that I should be entitled to the £7000 that was previously on my application.
Thanks, I'll give student finance a call on Monday.
Reply 3
Original post by MelissaBlackbird
Oh and another thing, it says "This does not take your household income into account." in the summary of your application section.
On my application I did say I was gonna be living elsewhere. And when I used the student finance calculator with my details, it says that I should be entitled to the £7000 that was previously on my application.
Thanks, I'll give student finance a call on Monday.

You've been given the non-income assessed finance - your parents' income hasn't been taken into account. If you applied to be income-assessed and your parents have completed all of their required parts of your SF application, then it's an error on SF's part. You need to contact them and get them to re-work your application.

You definitely need to contact SF to understand what's gone wrong and have it corrected. If you Google around a bit, I believe you can find a free phone number, rather the one that charges you to sit in a queue.
Reply 4
Free number is 0141 243 3600.

(I pretty much have it on speed dial)
Original post by Klix88
You've been given the non-income assessed finance - your parents' income hasn't been taken into account. If you applied to be income-assessed and your parents have completed all of their required parts of your SF application, then it's an error on SF's part. You need to contact them and get them to re-work your application.

You definitely need to contact SF to understand what's gone wrong and have it corrected. If you Google around a bit, I believe you can find a free phone number, rather the one that charges you to sit in a queue.


Oh ok. Thanks so much, I just realised I made an error when giving in my mum's financial details. So it must not have added up when they checked with HMRC.
Original post by Noble.
Free number is 0141 243 3600.

(I pretty much have it on speed dial)


Thanks very much!
Reply 7
Original post by Noble.
Free number is 0141 243 3600.

(I pretty much have it on speed dial)


I don't have a query but I will be saving this number. Thank you so much!
Reply 8
Original post by MelissaBlackbird
Oh ok. Thanks so much, I just realised I made an error when giving in my mum's financial details. So it must not have added up when they checked with HMRC.

That would certainly explain why you've been given non-income assessed finance. It's worth trying to plead the case for a re-assessment with the correct info.
Original post by Klix88
That would certainly explain why you've been given non-income assessed finance. It's worth trying to plead the case for a re-assessment with the correct info.


Oh can I not just fill out the financial assessment form again?
No
Reply 11
Original post by MelissaBlackbird
Oh can I not just fill out the financial assessment form again?

Don't think that's going to be possible. SF have already picked up on a discrepancy between what you/your mother told them, and your mother's HMRC records. You'll have to do everything by the book to try and convince them that you're not pulling a fast one.
Original post by Klix88
Don't think that's going to be possible. SF have already picked up on a discrepancy between what you/your mother told them, and your mother's HMRC records. You'll have to do everything by the book to try and convince them that you're not pulling a fast one.


I called them today and the guy on the phone said I should send the two P60s with a cover letter explaining. Hopefully everything works out. Thanks for your help
Reply 13
Sounds very hopeful - good luck!
Original post by Klix88
Sounds very hopeful - good luck!


Thank you!

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