Why's it saying I'm only entitled to £3564?!

I'm about to submit my student finance application but it says the maximum maintenance loan I may be able to receive is £3564, even though I'll be living away from home and out of London. I thought the maximum maintenance loan was therefore something in the 4000's? I haven't given my parent's financial information yet, as they're doing it via paper forms, but surely it should say the maximum I MAY (bearing in mind they don't have that information yet) be entitled to is £4-something? :confused:

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Reply 1

FindMyGoose?

sounds about right to me.

Reply 2

hypocriticaljap

That's the most you can get until your parents' income is assessed

Reply 3

Kim-x

I also got this, but it was £3638 last year. Have they forgotten about inflation?! They must be aware of it since the tuition fee loans have to go up every year. It's almost 1k short of my rent, we'll just live on fresh air then :rolleyes:

Reply 4

hypocriticaljap

Original post by Kim-x

You are wrong.
Last year it was £3564.
It has been frozen for 3 years now.

Reply 5

Kim-x

This is mine from last year. I got more than they're saying I'm entitled to now. If it's been frozen then they must have made a mistake and given me too much.

sfe last year.jpg13.0KB

Reply 6

TomInce6666

I still dont get why we cant increase the level of our loans. I cant live on 3.5k per year if i live under a roof. Maybe the government want students to live in boxes :smile:

Reply 7

hypocriticaljap

Original post by Kim-x

This is mine from last year. I got more than they're saying I'm entitled to now. If it's been frozen then they must have made a mistake and given me too much.

More likely you got a slightly increased loan due to parental income.
£3564 is what people who's folks earn more than £60K get.

Reply 8

hypocriticaljap

Original post by TomInce6666

I still dont get why we cant increase the level of our loans. I cant live on 3.5k per year if i live under a roof. Maybe the government want students to live in boxes :smile:

What's to "get". The system has never been meant to fund a student fully. It was always intended that some other source of funding would be needed, either parents or a job.

Reply 9

Jamil1987

Original post by hypocriticaljap

More likely you got a slightly increased loan due to parental income.
£3564 is what people who's folks earn more than £60K get.

I thought this amount was what you got in loan. If your parents earn less you get less loan - £3497 BUT you also get a grant on top.

Reply 10

hypocriticaljap

Original post by Jamil1987

I thought this amount was what you got in loan. If your parents earn less you get less loan - £3497 BUT you also get a grant on top.

It is more complicated than that. Loan amounts and grant amounts vary

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Applyingforthefirsttime/DG_174046

Reply 11

TomInce6666

Original post by hypocriticaljap

What's to "get". The system has never been meant to fund a student fully. It was always intended that some other source of funding would be needed, either parents or a job.

I didnt know that. But ill say that system sucks. Im already working 9-5 every day and at least 2-3 hours a night, and the system wants me to hold down a job too? Okay, ill do that. Like hell i can. And my parents dont/cant pay me a dime.

Reply 12

hypocriticaljap

Original post by TomInce6666

If you are getting £3564 and no more tough. Your parents have chosen to spend their £60K plus on something else.

Reply 13

Rob da Mop

Original post by chloeee!

You're mixing up the London thing I think. If you're living IN London you get something in the £4000s I believe but what you've got there is the basic student loan amount that most people are entitled to.

Reply 14

TomInce6666

Original post by hypocriticaljap

If you are getting £3564 and no more tough. Your parents have chosen to spend their £60K plus on something else.

Its my parents right to spend their money how they want it.

But why cant i get a bigger loan? Bigger loan, more interest, more public money returned. Doesnt the government win all round?

Reply 15

Jmzie-Coupe

Original post by TomInce6666

Its my parents right to spend their money how they want it.

But why cant i get a bigger loan? Bigger loan, more interest, more public money returned. Doesnt the government win all round?

No, because you don't pay any interest on the loan, it's just inflationary. The government doesn't win, and I think if you scrapped all means tested and just gave students one simple loan it wouldn't work. Also the govt scraps the debt after a certain number of years and that affects many people.

The buffoon jap is right about one thing though, your parents have chosen to spend their 60K on themselves, not you.

Reply 16

Emilykk1

Just out of interest, does your maintenance loan depend on where you are studying?
My first choice is outside London but my back-up is in London so, if I end up going to my back-up will my maintenance loan increase?
Thanks for the help

Reply 17

Rachel08

Original post by Emilykk1

Students studying in London get more because of the massive cost of living in London. Hopefully you should get more if you end up at your back-up, I don't know how it would work though cos you do the form for your first choice :confused:

Hopefully someone else on here should know and be able to clear it up for you :smile:

Reply 18

Zottula

Original post by Emilykk1

If you end up going to your back-up in London, then yes, your maintenance loan will increase to be in the 4000s.

Reply 19

Rachel08

Original post by chloeee!

I think you're right in thinking it says that cos it's not taken your parents income into account. Maybe they need to do all their forms before you submit :confused:

What did you put when it asks if you want parental income taken into account?