The Student Room Group

Student finance maintenance loan changed?

So whenever I've looked in the past, and in the letter telling me how much I was getting, my maintenance loan was always just under 5 grand. The other day I looked, and it had gone up to £7500. I was also sent a new letter saying how much I'm getting, and in the break down it says
"Loan not based on household income: £4988
Plus loan based on household income: £2556"

Can anyone explain to me why this has changed so late?

Also, with my household income, there's no way I should be getting £7500 a year! So I'm worried they've made a mistake. I might ring them tomorrow and check. But I'm wondering, its due to be paid any day now, so if they were to give me too much and then realise, can they make me pay it back straight away?
Reply 1
They would make you pay back anything you shouldn't b given, I'd imagine.

Definitely contact them ASAP and double check everything! Especially if you're pretty sure your household income means you shouldn't get anything or anywhere near that amount.


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Reply 2
You can be asked to pay it back at any point (straight away or in years to come!), so if you think they have overpaid you by an amount I would avoid spending it until they have confirmed/you've checked that you haven't been overpaid.

Hopefully if you contact them and say you think there has been a miscalculation they will check it and tell you quite soon if it was wrong. Though this may be wishful thinking!

xxx

EDIT: Looked again at your first post. Are you getting any grant? Because if you are staying away from home and studying in London it looks like you might actually be getting the right amount.

Full-time studentMaintenance Loan
Living at homeUp to £4,375
Living away from home, outside LondonUp to £5,500
Living away from home, in LondonUp to £7,675
You spend a year of a UK course studying abroadUp to £6,535

From https://www.gov.uk/student-finance/loans-and-grants

The way it works is, you get the maximum amount and then if you have a lower income they give you an amount in grant and take away some of the loan (50p for every £1 of grant).

Then the reason you suddenly got the amount changed could be because they only recently took your household income into account - they often send a non-means tested letter first, to ensure you at least have SOMETHING in place, then send a means-tested one later when they finally assess it. Did your first letter not have the 'household income' bit on it?

xxx
(edited 10 years ago)
Reply 3
Original post by kpwxx
You can be asked to pay it back at any point (straight away or in years to come!), so if you think they have overpaid you by an amount I would avoid spending it until they have confirmed/you've checked that you haven't been overpaid.

Hopefully if you contact them and say you think there has been a miscalculation they will check it and tell you quite soon if it was wrong. Though this may be wishful thinking!

xxx


I definitely won't be spending it anytime soon! I have enough trouble spending my own money let alone money I'm borrowing!

I'm going to ring them tomorrow, it just seems very strange to me they'd make a mistake at this point. They'd already worked it out and told me how much I'm owed, why suddenly recalculate it at this point and get it wrong? I've heard many stories of student finance being incompetent, but that seems extreme!
Reply 4
Original post by kpwxx
You can be asked to pay it back at any point (straight away or in years to come!), so if you think they have overpaid you by an amount I would avoid spending it until they have confirmed/you've checked that you haven't been overpaid.

Hopefully if you contact them and say you think there has been a miscalculation they will check it and tell you quite soon if it was wrong. Though this may be wishful thinking!

xxx

EDIT: Looked again at your first post. Are you getting any bursary? Because if you are staying away from home and studying in London it looks like you might actually be getting the right amount.

Full-time studentMaintenance Loan
Living at homeUp to £4,375
Living away from home, outside LondonUp to £5,500
Living away from home, in LondonUp to £7,675
You spend a year of a UK course studying abroadUp to £6,535

From https://www.gov.uk/student-finance/loans-and-grants

The way it works is, you get the maximum amount and then if you have a lower income they give you an amount in bursary and take away some of the loan (50p for every £1 of bursary).

Then the reason you suddenly got the amount changed could be because they only recently took your household income into account - they often send a non-means tested letter first, to ensure you at least have SOMETHING in place, then send a means-tested one later when they finally assess it. Did your first letter not have the 'household income' bit on it?

xxx


What's the difference between a bursary and maintenance loan? Mine literally just says maintenance nothing else, I don't have any grants or anything.

This is really helpful thanks!

I'm studying in Surrey, Epsom, the town I'm in is sometimes referred to as in London and sometimes not! So I have no idea if that's why I'm getting more.
My first letter didn't have the household income bit no.
Reply 5
Original post by Charlieward24
What's the difference between a bursary and maintenance loan? Mine literally just says maintenance nothing else, I don't have any grants or anything.

This is really helpful thanks!

I'm studying in Surrey, Epsom, the town I'm in is sometimes referred to as in London and sometimes not! So I have no idea if that's why I'm getting more.
My first letter didn't have the household income bit no.


Then I would say yes, you were originally assessed without household income then re-assessed when they got round to processing your parents' evidence, and that's what caused the change.

The grant is non-repayable, whereas the loan you have to pay back. So students whose parents have lower incomes get more money AND a certain proportion doesn't have to be paid back. The fact you have no grant means they have assessed you as having the highest bracket of income, so it sounds correct! And I would imagine (or hope) they at least know what they consider London.

I wouldn't say you have anything to worry about, although if it's still worrying you there's no harm in giving them a call just to put your mind at rest!

xxx
(edited 10 years ago)
Reply 6
The bursary isn't given by student finance - the grant is. Grants are the same as bursaries, in the sense that you don't pay them back.
Reply 7
Original post by Charlieward24
What's the difference between a bursary and maintenance loan? Mine literally just says maintenance nothing else, I don't have any grants or anything.

This is really helpful thanks!

I'm studying in Surrey, Epsom, the town I'm in is sometimes referred to as in London and sometimes not! So I have no idea if that's why I'm getting more.
My first letter didn't have the household income bit no.


Pretty sure Epsom is considered London for student finance purposes
Reply 8
Original post by OU Student
The bursary isn't given by student finance - the grant is. Grants are the same as bursaries, in the sense that you don't pay them back.


Sorry used the wrong term! Will edit posts accordingly above. Just done teacher training so my head is full of the word bursary lol.

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