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    "You can apply for a loan of up to £10,000 as a contribution towards your course and living costs. The amount you can get doesn’t depend on your household income."

    Can you apply for the £10k if you meet all of the criteria and receive the whole sum or is there other hidden criteria (eg,credit score, other loans, etc)?

    Can you use it for anything, as i would find it helpful for childcare costs as we'd need to put 2 kids in for more hours. I meet all the criteria mentioned.

    Also, does the loan affect benefits received such as working tax credit?
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    (Original post by little_lettuce)
    "You can apply for a loan of up to £10,000 as a contribution towards your course and living costs. The amount you can get doesn’t depend on your household income."

    Can you apply for the £10k if you meet all of the criteria and receive the whole sum or is there other hidden criteria (eg,credit score, other loans, etc)?

    Can you use it for anything, as i would find it helpful for childcare costs as we'd need to put 2 kids in for more hours. I meet all the criteria mentioned.

    Also, does the loan affect benefits received such as working tax credit?
    The only criteria is your eligibility to receive it (no previous masters study, English resident studying in the UK or EU resident studying in England) and the eligibility of the course (Masters level only)

    You can spend it as you see fit - on fees, on living costs, on childcare....in theory you could buy £10,000 worth of penny sweets with it if you wanted.

    I'm not sure on the benefits question - hopefully SFE reps will answer that when they join us on the 25th April onwards. It's likely to be treated in a similar way to the undergraduate maintenance loan by the DWP as far as I know but it might be worth checking with JobCentrePlus or the DWP directly.
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    (Original post by PQ)
    The only criteria is your eligibility to receive it (no previous masters study, English resident studying in the UK or EU resident studying in England) and the eligibility of the course (Masters level only)

    You can spend it as you see fit - on fees, on living costs, on childcare....in theory you could buy £10,000 worth of penny sweets with it if you wanted.

    I'm not sure on the benefits question - hopefully SFE reps will answer that when they join us on the 25th April onwards. It's likely to be treated in a similar way to the undergraduate maintenance loan by the DWP as far as I know but it might be worth checking with JobCentrePlus or the DWP directly.
    Thanks for your help, I have read up on it but I just am just concerned in case there are any loopholes!

    Sorry for my ignorance, I haven't done an undergrad degree. How does the DWP treat an undergrad maintenance loan?
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    (Original post by little_lettuce)
    "You can apply for a loan of up to £10,000 as a contribution towards your course and living costs. The amount you can get doesn’t depend on your household income."

    Can you apply for the £10k if you meet all of the criteria and receive the whole sum or is there other hidden criteria (eg,credit score, other loans, etc)?

    Can you use it for anything, as i would find it helpful for childcare costs as we'd need to put 2 kids in for more hours. I meet all the criteria mentioned.

    Also, does the loan affect benefits received such as working tax credit?
    Hi

    As long as you meet all the eligibility criteria you can apply for a Postgraduate Loan. We don’t look at credit scores and having a loan from your undergraduate course won’t stop you getting a Postgraduate Loan. You’ll be paid your Postgraduate Loan as a contribution towards your course and living costs while you study, so it’s up to you how you spend it. Postgraduate Loan may affect any benefits you get, it’s best to check this with the Department of Work and Pensions.
    Ray
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    In case anyone is interested, I have spoken with DWP and they have confirmed that:

    "After double checking the guidance I can confirm that Student Loans are classed as non taxable income and therefore would not affect your tax credits in anyway"
    I specifically asked about the PGL and double checked that this was included as the student loan and he reconfirmed:

    "yes any form of student loan is non taxable"

    However, please feel free to check with DWP yourselves also (and let me know if they provide any different advice!)
 
 
 
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