The Student Room Group

Household income will change next year most likely.

Hi, I'm about to apply for student finance (as soon as the website is working again) and my younger brother has already applied for it. We are both applying for the first time.

However, recently we have just found out our mum is expecting to have another child this winter and also that will mean our household income will change whilst our mum is on maternity leave. I see on the gov.co.uk website that we should call student finance if our parents have more children and if our household income changes.

When should we call student finance? Should I just apply for student finance using my families normal household income even thought it will most likely change next year?

Thanks.
(edited 7 years ago)
Original post by bakedbeans247
Hi, I'm about to apply for student finance (as soon as the website is working again) and my younger brother has already applied for it. We are both applying for the first time.

However, recently we have just found out our mum is expecting to have another child this winter and also that will mean our household income will change whilst our mum is on maternity leave. I see on the gov.co.uk website that we should call student finance if our parents have more children and if our household income changes.

When should we call student finance? Should I just apply for student finance using my families normal household income even thought it will most likely change next year?

Thanks.

Apply as usual with your parents providing their income details for 2014/15 (you have to do this first).

Once your paperwork has been received get your parents to complete this form: http://media.slc.co.uk/sfe/1617/ft/sfe_cyi_1617_d.pdf

They will need to estimate their income for 2016/17 and that will be checked against their tax records in April 2017. IF there's any doubt then it is better to slightly UNDER estimate. If they end up earning more than they declare then you can end up with your final term with no loan because SFE will claw back the overpayment then (whereas if they under estimate you'll end up with a slightly larger payment for your final term).

The income from 2016/17 will then be used again to assess your entitlement in the 2017/18 academic year (so although your parents will fill out finance details twice this year they will save some time next year!).

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