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How exactly does household income affect maintainence loan? Need advice urgently!

Hi,
So I'm at Uni now and the deadline to pay my fees is two days away but I don't fully have the money for it. I've always thought because I was told that maintenance loan is based on parent's income and you don't get more unless the income is less than 21k. But now i've come to uni hearing from friends i've been told that I can apply for more but I still understand it. So is it based on the combined income of a financial year or is it based on the income after all bills have been paid? Because the combined one for my parents is 58k but they I have 3 siblings and after all the bills have been paid it's way way less and my dad said there's not much left after it. I've checked certain websites and it seems I only get £200 more but that seems unfair. Anyways, I need more money really how do I get a higher loan, through student finance or can I get a bursary e.t.c?

Reply 1

Klix88

Original post by Gooney82

Hi,
So I'm at Uni now and the deadline to pay my fees is two days away but I don't fully have the money for it.

Are you eligible for the Student Finance Tuition Fee Loan? Sounds like you need to apply for it. That isn't means-tested and as long as you meet basic eligibility (e.g. UK residency) then you are guaranteed to get a loan which covers all of your fees.

I've always thought because I was told that maintenance loan is based on parent's income and you don't get more unless the income is less than 21k.

Firstly, the Maintenance Loan and Tuition Fee Loan are not the same thing.

Secondly, your information is incorrect. There is a sliding scale of income-assessed Maintenance Loan amounts and it is possible to get slightly more than the minimum with a household income of £58,000.

So is it based on the combined income of a financial year

Yes.

or is it based on the income after all bills have been paid?

No.

Because the combined one for my parents is 58k but they I have 3 siblings and after all the bills have been paid it's way way less and my dad said there's not much left after it.

No account is taken of your parents' outgoings.

I've checked certain websites and it seems I only get £200 more but that seems unfair.

Same rules as everyone else unfortunately. There are many folks in your position, whose parents look good financially on paper, but in reality don't have much to spare. It's normal for students to get part-time jobs. This is the official SF calculator: https://www.gov.uk/student-finance-calculator

Anyways, I need more money really how do I get a higher loan, through student finance

Yes. Call SF and ask to be income-assessed for this academic year. Also, apply for the Tuition Fee Loan urgently and make sure that your uni knows you're doing so. Two days before the payment deadline isn't a great time to start the process, but they might defer withdrawing you from your course.

or can I get a bursary e.t.c?

Bursaries are given out by unis not SF. Check with yours. Most will be focussed on students from low-income households, or given for things like sporting or academic excellence.

Reply 2

Gooney82

Thank you so much! A perfect and detailed reply all I needed :smile:

I have applied for the maintainence loan and I have the minimum which is £3800. I can pay for the student finance but I don't want my parents to spend much on me really, I'm going to ask the uni if I pay like 60% now and then I'll pay the remaining 40% by the end of the term.

Reply 3

murpo

Universities Forum Helper

Original post by Gooney82

Thank you so much! A perfect and detailed reply all I needed :smile:

Seems like you didn't listen to Klix? You don't need to be paying the fee yourself at all and like she said if the university are asking for fees it sounds like you didn't apply for tuition fees. Student finance england will pay the tuition fees directly to the university(in 3installments) so you never have to worry about fees being paid.

Call student finance england and ask them about paying your tuition fees ok?
I could give you a step by step process of how to add the fees to your account if you would like(and if you do it online they will be added to your account instantly and would be approved the next working day so the university will be able to get those fees shortly after)

Your maintenance loan is for you to do whatever you want with (advised that it's for living costs and anything you need to buy for university) You should not be paying your fees with it.

Also if your parents support your app they don't need to spend anything.

The threshold for 16/17 is 62k by the way not 58k (to be exact something like £62837 but I never remember the last 3 numbers) as long as your parents earn less than 62k you will be able to get more money and they DO NOT need to spend anything.