Student Finance Maintainance Loan is significantly lower than I expected

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jackedmonds.02
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I applied for my maintenance loan expecting to get £12,010, because my parents are both on benefits and have no taxable income, and because I'm planning on studying in London, away from home. My application finally got accepted. But it's valued at £5981. Obviously that's still a lot, but that doesn't even cover rent. It's less than half of what I was expecting. I'm planning on calling in the morning to figure out why because honestly I have no idea what's going on. Can anybody help?
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PQ
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(Original post by jackedmonds.02)
I applied for my maintenance loan expecting to get £12,010, because my parents are both on benefits and have no taxable income, and because I'm planning on studying in London, away from home. My application finally got accepted. But it's valued at £5981. Obviously that's still a lot, but that doesn't even cover rent. It's less than half of what I was expecting. I'm planning on calling in the morning to figure out why because honestly I have no idea what's going on. Can anybody help?
When did your parents submit their income information?

SFE will award the basic loan quickly and will then adjust that upwards 4-8 weeks later when they assess your household income.
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jackedmonds.02
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(Original post by PQ)
When did your parents submit their income information?

SFE will award the basic loan quickly and will then adjust that upwards 4-8 weeks later when they assess your household income.
I think they did it early July? My mum did it significantly earlier, but it was only in July when my mum basically explained that my dad wasn't living with me and that theyre divorced or something. I'll call them up when I've woken up a bit more because I'm knackered.
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(Original post by jackedmonds.02)
I think they did it early July? My mum did it significantly earlier, but it was only in July when my mum basically explained that my dad wasn't living with me and that theyre divorced or something. I'll call them up when I've woken up a bit more because I'm knackered.
It will probably take a few more weeks to come through with the higher amount then. July is after the deadline so things take longer at that point because SFE are busier.
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jackedmonds.02
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(Original post by PQ)
It will probably take a few more weeks to come through with the higher amount then. July is after the deadline so things take longer at that point because SFE are busier.
Okay, thank you, It seems like this is the final one though, when i go to my profile on SFE, it says the application has already been approved, and I can access my entitlement summary. Its at the verifying payment details. I assume you're still right though, thank you.
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jackedmonds.02
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(Original post by PQ)
It will probably take a few more weeks to come through with the higher amount then. July is after the deadline so things take longer at that point because SFE are busier.
Okay, apparently its because my dad still needs to do his end of the application, which, honestly ****s me over because I was pestering him since late February to do it and he still hasn't. I've done the paper forms and I'll do most of it for hik
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(Original post by jackedmonds.02)
Okay, apparently its because my dad still needs to do his end of the application, which, honestly ****s me over because I was pestering him since late February to do it and he still hasn't. I've done the paper forms and I'll do most of it for hik
Get it in ASAP

In the mean time check out which student accounts will get you the largest overdraft for the first year (I think Santander has the biggest at £1,500 but check) as that could be enough to help you manage while you wait for your household income assessment.

And get clued in with your university about how to apply for hardship funding from them - again they may be able to help with short term loans to cover you while you wait for your assessments to be completed. They might also be able to adjust your rent payment schedule if you're living in halls.
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(Original post by PQ)
Get it in ASAP

In the mean time check out which student accounts will get you the largest overdraft for the first year (I think Santander has the biggest at £1,500 but check) as that could be enough to help you manage while you wait for your household income assessment.

And get clued in with your university about how to apply for hardship funding from them - again they may be able to help with short term loans to cover you while you wait for your assessments to be completed. They might also be able to adjust your rent payment schedule if you're living in halls.
Thank you man, will do, that's actually super smart. He's shielding right now away from home which makes it difficult, but, I might just fill it out for him while on the phone and get a train to his just to get him to sign it, but will do
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