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Unexpected £500 in my account, what do i do? watch

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    hello there!

    so yeah I checked my account this afternoon and found that there was just under £500 in my account that I wasn't expected from "student grants". Its understandable my first reaction was - lots of clothes. I'm currently doing a NHS funded course so was told when I applied i was only eligible for the loan (and im also not eligible for my uni grant). So I can only presume that the money is the maintenance grant, which i didn't even apply for.

    So this is the problem do i go shopping :P, keep it but don't spend it or ask student finance England if this is right? Obviously i don't particularly want to give it back cos im in no way flush with the money im receiving. My boyfriend says just spend on essential things and then if they tell me its a mistake i'll just have to pay the money back. This situation isnt bad because im studying nursing so i don't have tuitions fees. But there's also the issue of code of conduct, will it be an issue of moral integrity if i didnt question the money?

    Confused,
    Heather
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    Ask if it was made in error and if they say it's yours then keep it, otherwise if you keep it and it's not yours it's classed as fraud.
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    Make sure you are entitled to it before you spend it - if they found out you WOULD have to give it back, which would be annoying if you had already spent it! Chances are, they will realise too. The maintenance loan comes up on my bank account as "STUDENT LOANS CO" just like the student loan, so it's probably not that.
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    Are you sure it's not a bursary or something from the uni?

    If you ticked a certain box like "share my details" or something along those lines on the form then you are eligible for bursaries from your uni.
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    (Original post by darthgirlie)
    hello there!

    so yeah I checked my account this afternoon and found that there was just under £500 in my account that I wasn't expected from "student grants". Its understandable my first reaction was - lots of clothes. I'm currently doing a NHS funded course so was told when I applied i was only eligible for the loan (and im also not eligible for my uni grant). So I can only presume that the money is the maintenance grant, which i didn't even apply for.

    So this is the problem do i go shopping :P, keep it but don't spend it or ask student finance England if this is right? Obviously i don't particularly want to give it back cos im in no way flush with the money im receiving. My boyfriend says just spend on essential things and then if they tell me its a mistake i'll just have to pay the money back. This situation isnt bad because im studying nursing so i don't have tuitions fees. But there's also the issue of code of conduct, will it be an issue of moral integrity if i didnt question the money?

    I would probably phone them up and ask them about it. It could be that the money is yours (if so, then celebrate!) or it could be a mistake that is easily sorted. It's better than you speak to them rather than spend it because you never know if that money is yours to keep or not. It'll give you peace of mind if that money is definitely yours
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    Stick it in a savings account for a little while; just in case you need to give it back.
    If someone asks for it back; at least you've made some interest on it.

    If after a few months you've not heard anything then....
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    Like someone else said, it could be a bursary. They are usually around 1000 and come in two installments- one per semester- this could be the first. Check though just in case =] you don't want to be done for fraud!
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    Request a statement from your bank to see where it came from first. If not then take advice of the second poster above me.
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    Pretend you dont check how much money you have. Then if nothing has happened in a few months then no problem. If they ask for it back, youre able to give it back.
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    Request a statement but spend it, if whoever sent it wants it back then they will contact you.
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    (Original post by Fat-Love)
    Request a statement from your bank to where it came from first. If not then take advice of the second poster above me.
    This.
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    do not spend it.

    if it is accidentally granted money, this does happen, they will expect the full sum back immediately. they can add interest onto the sum if you have to pay them back in drips.

    call student finance, ask them about your eligibility. contact your uni welfare and ask them about their bursaries, and what you may be eligible for. if either of them are a match, spend it happily otherwise do not.

    spending money that isn't yours is an attitude that will make you bankrupt by the time you're 30.
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    (Original post by OmicronPersei8)
    I would probably phone them up and ask them about it. It could be that the money is yours (if so, then celebrate!) or it could be a mistake that is easily sorted. It's better than you speak to them rather than spend it because you never know if that money is yours to keep or not. It'll give you peace of mind if that money is definitely yours
    Id do this if i were you.
 
 
 
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