(Original post by laurennnxox)
Does anyone know what happens if you can't a student loan because your parents own over 40 thousand?
The threshold for zero Student Finance Maintenance
(non-repayable) is £42,620 for 2014 starters, so you're right that you're unlikely to get a grant element.
However you will still be entitled (subject to some basic criteria such as UK residence) to the Student Finance Maintenance Loan
(repayable) as well as the Tuition Fee Loan.
A summary of the type of loans avaialble can be found on the www.gov.uk
website which covers Student Finance:
Id still like some help of some sort i was wondering if banks give some out?
You won't get a bank loan as an undergraduate. With your parents' level of earnings, Student Finance assumes that they will be giving you money during your uni life. Your Maintenance Loan is intended to contribute towards your living costs, not to cover them completely.
If your parents can't help, you'll probably have to get a part-time job while you study and be very careful with budgeting. Especially beware of committing to expensive student accommodation. Shop around online - whilst uni Halls are nice when you're a first year, some are more expensive than renting privately especially if you can find a flatshare.
I know ill probably have to get a job when i go to university in order to help put towards my course fee/ accommodation etc
Your fees will be covered in full by the SF Tuition Fee Loan. However, as above, if your parents can't make up any shortfall in the SF Maintenance Loan, you may have to work part-time.
You can get an estimate of your entitlement by using this calculator: