Hey there! Sign in to join this conversationNew here? Join for free
x Turn on thread page Beta

Student finance app watch


    (Original post by r3w)
    I'm totally confused
    I still haven't recieved an offer from Newcastle, who will be my firm choice. My household income is over 50K so what do i actaully have to do. No one at school has really explained the ins and outs of finance. Bad times. Will someone be a gem and explain it to me please? Thanks
    You just need to apply for the basic grant and loan - I think there's an option amongst the online application where you have to select if you want to have your income assessed, so just leave that blank. You'll see it when you get to it, the online app is fairly simple as long as you read everything.. very.. carefully. :p:

    Be careful.

    Over £50,020 usually means that you won't get a grant (although younger brothers or sisters in the household will bring that figure down by £1,130 for each other sibling)

    However, after the grant has been wiped out by the 'parental contribution' a further 28% of the full maintenance loan is also based on household income

    What this means is that household incomes of £60,000 will usually still qualify a student for an extra £500 or so of loan.

    Other factors come into play like 'long weeks' loan for extra weeks on some courses or the higher London rates of loan.

    I am not trying to confuse anyone here, but just pointing out the fact that (unless the student does not want to take out any maintenance loans) the only time it is definitely not worth providing parents details is when their income is over £75,000
Do you like carrot cake?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.