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    I'm starting a full time course this September and am confused about how much I will be able to get in terms of maintenance loan/grant because of what is classed as household income.

    I'm 21, living at home with my mum and so am a dependant student.

    At the moment, our household income (mine and her's together) is roughly £40,000.
    During the last tax year is was around £36,000.
    When I start in September, I will no longer be employed and so the household income will be under £25,000.

    Everywhere that I'm reading says they look at your household income last tax year, and take into account your's plus your parents'. This is confusing me because how much our income was last year seems irrelevant to what we'll have coming in in September.

    Please can someone explain it (simply) for me, before I call SF tomorrow and clarify?
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    They will take last year's income into consideration, but they might look into your particular circumstances if you explain it to them. Although, from personal experience, they're not that inclined to help.
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    Thanks Lanna - but I don't understand why the household income last year is relevant.

    I too have read the same, but when I calculate how much I could be entitled to on Direct Gov's calculator, it specifically only asks me for my mum's income for last tax year, not mine, which would make sense, and instead asks me how much I'll expect to receive in the 13/14 academic year. Yet everywhere else seems to suggest it's both of us which wouldn't make sense.
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    sorry to intrude on your thread with my own question but...

    (Original post by LannaBanana)
    They will take last year's income into consideration, but they might look into your particular circumstances if you explain it to them. Although, from personal experience, they're not that inclined to help.
    by last year, would you mean from january to december or?
    my mum stopped working during the summer and started a pgce so she's not really working or getting paid, will that count or would they just take her information from when she was working before? i was ready to go for a good maintenance grant as well
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    (Original post by lazershus)
    sorry to intrude on your thread with my own question but...



    by last year, would you mean from january to december or?
    my mum stopped working during the summer and started a pgce so she's not really working or getting paid, will that count or would they just take her information from when she was working before? i was ready to go for a good maintenance grant as well
    Last year means last tax year. A tax year runs from 6th April - 5th April.
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    (Original post by OU Student)
    Last year means last tax year. A tax year runs from 6th April - 5th April.
    thanks, i'm going to have to find out how much exactly she's been paid then, so if i applied for the loan + grant after 5th April will they take information from April 2012 - April 2013 or will it have to be the year before anyway?
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    Just to clarify for anyone coming across this thread:

    SF are NOT interested in your own salary for that tax year, all they would want to know about is unearned income (bank interest, money you earn from property etc.)

    So in my case, all they will take into account is my mum's income, not mine.
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    (Original post by lazershus)
    thanks, i'm going to have to find out how much exactly she's been paid then, so if i applied for the loan + grant after 5th April will they take information from April 2012 - April 2013 or will it have to be the year before anyway?
    They should still look at April 2011 - 2012, although I think if you've had a 15% or more change in household income in the past year, you can apply to be assessed on the current year instead.
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    (Original post by Siamese)
    They should still look at April 2011 - 2012, although I think if you've had a 15% or more change in household income in the past year, you can apply to be assessed on the current year instead.
    okay thanks a lot, i think i might need to ask for that when i find out how,
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    To clarify for the OP
    If you've earnt more than £7,500 for 36 months (3 years) prior to the start of your course (so 01st Sept in the year you want to study) then you'll be classed as 'independant' and you're parents income is irrelevant.
    Otherwise, Household income is exactly that; if I wasn't able to be assessed as an Indep student, then mum, her boyfriend, and my income would all count. So i'd be screwed.
    Or at least, that's what SFE told me when I rang them a week or two ago.
    Hope it helps!
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    (Original post by HippieSkirt23)
    To clarify for the OP
    If you've earnt more than £7,500 for 36 months (3 years) prior to the start of your course (so 01st Sept in the year you want to study) then you'll be classed as 'independant' and you're parents income is irrelevant.
    Otherwise, Household income is exactly that; if I wasn't able to be assessed as an Indep student, then mum, her boyfriend, and my income would all count. So i'd be screwed.
    Or at least, that's what SFE told me when I rang them a week or two ago.
    Hope it helps!
    WRONG
    Your income would not be taken into consideration, only mum and partner.
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    If you have been working for 3 years earning £7500 or more then you are an independant student which I believe automatically entitles you to the maximum ammount as you won't be working during uni unless you have a partner.

    If you have not been earning £7500 for 3 years student finance will look at the income of the parent or parents you live with from the previous financial year unless it has substantially decreased this year.
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    (Original post by balotelli12)
    WRONG
    Your income would not be taken into consideration, only mum and partner.
    Sorry - but thats not what SFE told me. If I'm wrong it's cause theyre telling callerd duff information.
    In fairness it's common sense too - if there were six adults all earning in the same household (older sisters etc) why would their income not count? "household income" would surley mean "the money going into the house"?
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    You were advised by a potato head.
    Your income is NOT taken into account when applying for your student loan.
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    Student finance will only take your parents or parent and their partners income into account.

    The only income of the student they take into account is if they have "unearned income". This money from pensions, investments things like that.

    Any money you get from employment isn't looked at.

    As for the year they use. You can ask for a current year assessment to be done if you parents income has dropped by 15% while your studying. Otherwise they will just use the financial year that had last ended when the application process opens.


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    (Original post by jelly1000)
    If you have been working for 3 years earning £7500 or more then you are an independant student which I believe automatically entitles you to the maximum ammount as you won't be working during uni unless you have a partner.

    If you have not been earning £7500 for 3 years student finance will look at the income of the parent or parents you live with from the previous financial year unless it has substantially decreased this year.
    It doesn't quite work like that. It's a guide and not st in stone.
 
 
 
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