I am a single parent supporting my son's application for student finance. My annual income is low, so my son should receive the maximum maintenance loan. However, I am expecting to receive a lump sum of money as a gift from a relative in the next few months, which is intended to be used on home improvements. Please can anyone tell me whether savings/gifts such as this will affect the amount of maintenance loan my son can receive either in 2016 or in future years during his degree. Thanks.
- Thread Starter
- 30-08-2016 18:32
Offline2ReputationRep:Official TSR Representative
- Official TSR Representative
- 31-08-2016 14:29
If you are supporting your son for the 16/17 academic year then we would take the 14/15 tax year into consideration, therefore will not affect this years entitlement. We only take savings into consideration if there is any interest on the savings.