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    Hello,

    I understand there are 3 loans / grants which I can recieve:

    Maintenance Loan - Paid directly to me
    Tuition Fee Loan - Paid directly to the college/university
    Higher Education Maintenance Grant - Paid directly to me


    I understand that I will be receiving both the Maintenance Loan and Tuition Fee Loan.

    As for the Grant, whether I recieve it or not is judged on my parents income right?

    Now does income only mean the salary? My parents own properties and receive rent on those but, at the end of the financial year (06/04/2008 - 05/04/2009), they made a loss (no profit gained).

    Am I right in saying I will receive the grant?
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    Anyone?
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    When I applied for the maintenance loan and grant I'm pretty sure my parents had to declare everything (savings, investments, pensions??), don't quote me though as it was 4 years ago and also mayhave changed.

    Can you not find the info on the website?

    Also, I think the grants estimated by what they earnt, not what they lost, if that makes sense.
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    (Original post by shorty.loves.angels)
    When I applied for the maintenance loan and grant I'm pretty sure my parents had to declare everything (savings, investments, pensions??), don't quote me though as it was 4 years ago and also mayhave changed.

    Can you not find the info on the website?

    Also, I think the grants estimated by what they earnt, not what they lost, if that makes sense.
    There isn't any information on the website.

    If they have lost money - that doesn't count as an income does it?
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    (Original post by iPhone)
    There isn't any information on the website.

    If they have lost money - that doesn't count as an income does it?
    Yeh I just scoured the relevant sites and they're not very helpful at all are they :s

    I can't honestly tell you for sure. I would imagine (again don't quote me, and someone please correct me if I'm wrong), but I think they just base the inome on what came in, not on the net gain. I don't think expenditure ( or other) is taken into account of income??
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    (Original post by iPhone)
    There isn't any information on the website.

    If they have lost money - that doesn't count as an income does it?
    This might cover it ...

    http://www.direct.gov.uk/en/Educatio...time/DG_171523

    Plus there's a calculator to work out how much you can get ...

    http://www.studentfinance.direct.gov..._schema=PORTAL
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    Still need help with this.

    Household income is based on just your parents job or other stuff as well?
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    (Original post by iPhone)
    Still need help with this.

    Household income is based on just your parents job or other stuff as well?
    Your parents income is based on that - all taxable income from whatever be it jobs, property rental, investment or interest. In your parents' case they will need to submit the tax declaration they submitted to the inland revenue.
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    (Original post by hypocriticaljap)
    Your parents income is based on that - all taxable income from whatever be it jobs, property rental, investment or interest. In your parents' case they will need to submit the tax declaration they submitted to the inland revenue.
    Thank you.

    Now if my parents are making a loss on their properties, how can I show that they are not gaining anything profit?

    Thanks.
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    you don't. They send in the tax return they sent to the inland revenue.
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    Who's they? My parents?
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    (Original post by iPhone)
    Thank you.

    Now if my parents are making a loss on their properties, how can I show that they are not gaining anything profit?

    Thanks.
    Your parents will need to supply evidence of their income to SFE at some point.

    Now, the evidence could be any of the following:

    1. complete copies of their individual 2008-09 tax returns
    2. their 2008-09 inland revenue tax calculations (form SA302)
    3. a letter from their accountant confirming their total taxable income for the 2008-09 tax year

    If what you are saying is correct then all of these items should show the same thing - i.e. their net income as 'nil'

    Have you asked them if this is the case?

    The reason I ask is that I believe losses from rental income (i.e. the full 12 months of the year type of rental income) cannot be offset against other forms of income whereas losses from holiday lettings (i.e. less than 12 months of the year) can.

    If they have income from other sources (e.g. employment) but make a loss from rental income that cannot be offset then you might not get the full grant.

    I think you need to ask your parents to talk to their accountant as to what their income is according to the Inland Revenue.

    Only then will you get the answers you seek.
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    Exactly!
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    I just spoke to Student Finance England and they said I do not need to enter it as my household income.
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    of course you don't! It is your parents who have to!!!
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    (Original post by hypocriticaljap)
    of course you don't! It is your parents who have to!!!
    That's what I meant lol - sorry, I worded my other post wrong.
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    If you're saying you've been told they don't need to furnish a tax return then you've been advised by one of the brain dead goons that SFE seem to specialise in.
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    (Original post by hypocriticaljap)
    If you're saying you've been told they don't need to furnish a tax return then you've been advised by one of the brain dead goons that SFE seem to specialise in.
    What they said is that my father does not need to enter the money which is coming in from the properties, into the household income.

    He will need to send them a copy of the tax return which will outline that he made a lost.
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    See ASCIICipher's post for the irrelevance of this.
 
 
 
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