Unfair student loans based of parents income.

The loans should be based on parental income as a higher income means they have the ability to provide financial support. A family of low income can definitely not provide much, if any, support. If I had a family income where I didn't quality for the full loan I would expect them to contribute.

If it was based off living costs then everyone would choose the highest rent, claim they have high expenditures and there'd be no way to monitor the amount of loan given as it'd mostly be fraudulent
Posted from TSR Mobile

I suppose I kinda get you. My friends all of which live with both parents so have two sets of income ranged from about 3k to 7k whereas I am much higher living with one parent. I think it's just a case of who is more likely to be in a position to be able to provide than anything. I understand it's probably frustrating whereby because your parents earn a certain amount it doesn't mean they can afford the kinda of extra fees. On the other hand I don't think it'd be fair if we all got the same amount

What loan are you actually getting?

I think you'd be right if the income brackets were low but they're not. You still get nearly £4'000 if the income is £60,000 - these people would easily be able to afford to give financial support.

I understand some families don't provide support to their children, hence the special circumstances ie being assessed as estranged. SFE can't provide a high loan to everyone who says they aren't getting support as, again, many causes would be fraudulent as there's no way to prove it

Posted from TSR Mobile

Legally though parents are no longer responsible for you at 18 and could say that they are not supporting you at all.

I see your point on how loans based of rent will cause issues but do you think its fair that i will be a lot worse off due to my parents higher income (even though there not contributing to my costs) whereas my friend who is receiving a £9000 loan will live in somewhat "luxury" with all that money just because his parents are on a low income

It could be looked at from the point of view that high earners and consequently the students are being punished just because their parents earn more.

Is it the case where you will just be able to get by with the support of your parents if they are supporting you and maybe a job or will you genuinely not be able to afford to go?

I think whether you have siblings (especially if they're also at uni) and any major debts your parents have should be taken into account since such things will drastically impact how much they can garnish your loan by. Perhaps a section where you/your parents can specify how much they can support you by would work best, rather than just basing it off rent costs or parent income alone?

As it is just chalk it down to experience - you'll be living closer to how your low income friend has been living, while they're be living closer to how you're used to living. Gives people the chance to get a taste of how 'the other half' live. ( I'd also suggest learning how to budget well and plan meals etc to save what money you can).

Well i will be able to afford to go.I have enough savings from working over the past through years. I will also have to find some part time work in uni.

I think its more of a case that its annoying that i will have to be dipping and using large amounts of my hard earned savings and working lots(i have no problem with working and realise many do).I will also end up paying more money back than my friend who receives the £9000 loan and doesn't have to get a job or dip into any savings.

The loans should be based on parental income as a higher income means they have the ability to provide financial support. A family of low income can definitely not provide much, if any, support. If I had a family income where I didn't quality for the full loan I would expect them to contribute.

If it was based off living costs then everyone would choose the highest rent, claim they have high expenditures and there'd be no way to monitor the amount of loan given as it'd mostly be fraudulent
Posted from TSR Mobile

Yeah i agree to an extent. Mabey a system based off living costs could be exploited and it should be based of more variables than primarily parental income.

And yes living with less money can give some good life lessons.However doesn't change the fact that i am "mad" that i have to use all my hard earned savings and ultimately pay back more to the loan company.

Yeah I get you as I am that friend who will be 'living in luxury.' I can only imagine how annoying it is. If it's any consolation we will have more debt. What do you mean you will end up paying more back? Are you taking out an additional loan?

How will you end up paying back more to the loan company if the amount you're borrowing is lower?

No im not taking out an additional loan.

How the Welsh government does it is that the Max maintenance loan you get is like £5000 ish. You automatically apply for a maintenance grant as well which is like an extension of the Maintenance loan in which you can get up to an additional £4000 that doesn't have to be paid back.The higher your maintenance grant the slightly less maintenance loan you get so if you got the full £4000 grant then you could only get a £4500 maintenance loan.

In my case i will have to pay back the £5000 in full whereas my friend does not have to pay back the £4000(Maintenance extension grant thing) and only has to pay back the £4500 ish he had from a maintenance loan

If that makes sense haha sorry it is a bit

UK law will obviously be its own thing, but in the US minors can take steps to declare financial independence if they want to escape strange households and be eligible for certain kinds of benefits. Can you prove that, as far as university is concerned, that you have no parents at all?