I'm going into my first year of uni, and I'm a bit unsure whether to apply for a means-tested loan this year. At the moment, my household income is probably such that I would only get the basic £3,575 loan even if I applied for a loan based on income. However, if I applied for non means tested this year, would I be able to apply for loans based on income in later years - for example, if my parents retired and my household income decreased when I am a couple years into my degree, would I then be able to apply for a bigger loan?
Means tested loans watch
- Thread Starter
- 16-04-2013 18:27
Mark Lee - SFE Official Adviser
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- Official TSR Representative
- 17-04-2013 16:02
Yes you can definitely apply based on your household income in later applications. It's also possible to change your application to take household income into account throughout the year is anything changes with your parents finances.
Hope this helps,