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how much of my student loan will be affected if i get maximum maintenace grant? Watch

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    I shall be going to university this September 2014. as I am from a low income family earning under £25,000 I will be able to receive the maximum amount of maintenance grant which is £3,387.
    what I want to know is that if I decide to apply for student loan as well how much would I receive as it gets lowered once you have maintenance. as I am living at home I would get a loan of Up to £4,418.
    hoever as I am receiving maximum grant how much will it lower of the value of the loan? I know that its reduced by 50p for every £1.00 of Maintenance Grant you are entitled to. so if I get the £3,387 grant how much of the £4,418 loan is cut off.
    I hope this isn't too confusing. this is my first time asking on tsr, but basically just asking for the calulations. thanks.
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    Hi Alyaagarawi,

    Your loan entitlement would be reduced to £2725.00

    Take the grant entitlement of £3387.00 divided by 2 as £1.00 / £0.50 is 1/2
    so £3387.00 /2 = £1693.50

    £4418.00 - £1693 (rounded) = £2725.00

    Thanks
    • Thread Starter
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    thank you for you help. I know its a pretty stupid question, I did the calculation the long way and ended up confusing myself lol
 
 
 
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