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Maintenance Loan

Between them, my parents earn approximately £70,000. Under current rules, the government assumes that this means my parents are financially able to provide monetary support to me if I were to go to University. Today I sent off my applications for a degree in the 2017/18 academic year, and when taking into consideration my parents earnings, the maximum maintenance loan I would be eligible for would be slightly over £4,000, nowhere near what the annual cost of rent will be for student accommodation. Despite my parents earning a "good" wage, they are not financially able to support me, or anyone else that matter for years at University, due to a number of setbacks over the last couple of decades that now means they have extortionate monthly payments on their mortgage. This is further complicated by the fact that my Dad is due to retire in between 2 and 3 years. Is anything taken into consideration with the maintenance loan to acknowledge where parents aren't in positions to support their son or daughter through University?

My second question is that I am 23, and have financially supported myself for the past 6 years whilst still living at home with my parents. Does this make me an independent student, having supported myself for at least the last 3 years, or am I still seen as a dependent student?

Reply 1

Tiger Rag

Nothing like debts is taken account, aside from whether you have siblings at uni.

If you have been self supporting for at least the last 3 years, then you can be classed as independent.

Reply 2

BradPennick

Original post by Tiger Rag

Nothing like debts is taken account, aside from whether you have siblings at uni.

If you have been self supporting for at least the last 3 years, then you can be classed as independent.

Thanks for the reply Tiger. So even though i still live with Mum and Dad, because ive financially provided myself for more than the past 3 years i am classed as independent. Does that mean that my parents salaries arent a factor with a maintenance loan?