Current year income assessment form Watch

flippinggymnast
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Hi, how long should it take a Current Year Income Assessment Form to be checked, responded too and to be shown on my student finance account?
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Louise E SFE
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(Original post by flippinggymnast)
Hi, how long should it take a Current Year Income Assessment Form to be checked, responded too and to be shown on my student finance account?
Hi fippinggymnast,

The Current Year Income Assessment Forms are currently taking 18 working days to process from when it is received . You would be able to see changes on your online account 24 hours after it has been processed.

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flippinggymnast
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(Original post by Louise E SFE)
Hi fippinggymnast,

The Current Year Income Assessment Forms are currently taking 18 working days to process from when it is received . You would be able to see changes on your online account 24 hours after it has been processed.

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Thank you, however this takes us after the date that loans will have been received, and i may also need to change the amount due to me no longer living at home with parents. What do i do, as this will be put me into a situation that i cannot afford
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Laura S SFE
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Hi flippinggymnast,

The processing timescales are a guide as can be subject to change. To be fair to other students all evidence is queued for processing in date order from the date of receipt. If your funding is going to be late I would recommend speaking to your University to see if they can help you until it comes through.

For changing your loan amount you can amend this via your online account by going into the option for changing an application and then changing your course details to update the section for where you will be living during each of the three terms. It will either let you amend this online or will bring up a link for a Change of Circumstances (CO1) form for you to print off and send into us.

We are currently taking 19 working days for us to process the paper CO1 forms and 17 working days if the changes are made online. You would receive a new Notification of Entitlement (NOE) letter to confirm your increased loan amount.

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flippinggymnast
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(Original post by Laura S SFE)
Hi flippinggymnast,

The processing timescales are a guide as can be subject to change. To be fair to other students all evidence is queued for processing in date order from the date of receipt. If your funding is going to be late I would recommend speaking to your University to see if they can help you until it comes through.

For changing your loan amount you can amend this via your online account by going into the option for changing an application and then changing your course details to update the section for where you will be living during each of the three terms. It will either let you amend this online or will bring up a link for a Change of Circumstances (CO1) form for you to print off and send into us.

We are currently taking 19 working days for us to process the paper CO1 forms and 17 working days if the changes are made online. You would receive a new Notification of Entitlement (NOE) letter to confirm your increased loan amount.

Thanks

I understand, thank you.

When i change my course details, will the CO1 form change the original loan amount i have been awarded or the one I have appealed fro its the cyi form as this is the loan I will end up with and therefore should entitle me to a higher loan amount.

Thank you very much for answering all my questions
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Laura S SFE
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Hi flippinggymnast,

The CO1 form is just to change your loan amount based on where you are living during the academic year as you would get a higher rate if you are not living in the parental home. So you probably would receive two entitlement letters confirming the change to your loan amount based on living away from the parental home and one confirming the revised amount awarded after we process the CYI. The final NOE would be the one where both updates have been processed.

Thanks
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flippinggymnast
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(Original post by Laura S SFE)
Hi flippinggymnast,

The CO1 form is just to change your loan amount based on where you are living during the academic year as you would get a higher rate if you are not living in the parental home. So you probably would receive two entitlement letters confirming the change to your loan amount based on living away from the parental home and one confirming the revised amount awarded after we process the CYI. The final NOE would be the one where both updates have been processed.

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Thank you!!
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Chris SFE
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(Original post by flippinggymnast)
I understand, thank you.

When i change my course details, will the CO1 form change the original loan amount i have been awarded or the one I have appealed fro its the cyi form as this is the loan I will end up with and therefore should entitle me to a higher loan amount.

Thank you very much for answering all my questions
Hi,

When we receive the CO1 form to show your change in living situation we will assess you for the higher rate of Maintenance Loan and base this on the household income details held at that time. If the Current Year Income (CYI) form has been received and processed by the time we review your CO1 form we will use these new income details. However, if the CO1 form is processed before the CYI form you will receive a higher rate of Maintenance Loan based on the original income details provided and then we will increase this once the CYI form is actioned.

Thanks
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