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Student loan/grant - Dad retiring

Hello, I have applied to go to university in September and got an offer. My dad will be retiring at the end of march and that will leave my mom working on an income of £10,000. I'm assuming I will be able to get a grant?

Reply 1

Origami Bullets

Original post by Aarz

Hi,

I'm assuming that your dad is retiring at the end of March 2014 and you're going to uni in September 2014? If so, you'll need to make sure that you ask for a current year assessment from SFE, as otherwise they'll base it on a tax year when your dad was working throughout.

You can work out how much you'll be eligible for from the government here, and assuming that your dad isn't in receipt of a particularly generous pension, you'll get full student finance http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680136&_dad=portal

You'll also be eligible for a bursary from your uni. The amounts vary significantly from uni to uni, and the details can be found on your uni's website.

Reply 2

balotelli12

Your dad's works and state pensions counts as income. Mine did for my kids at uni.
It doesn't need to be a generous works pension to push you out of grants or bursaries, especially if it is a final salary pension. All pension income is considered by SFE.

(edited 10 years ago)

Reply 3

davepom

The form your dad will need to complete is a CY1 (current year income form) which will be available on the student finance site after the end of this tax year i.e. after April 5 2014. I will be completing this for my son who is hoping to go to uni this September. However, your dad will have to submit his income details for the tax year ending April 5 2013 because they will want to see a minimum drop in income of 15% from that tax year