So at the start (when I applied for the loan) I intended to live at my dads but now I’m planning to move out and the loan is only £3000 a year which I couldn’t live on with my part time work aswell, so the question is do I have to reapply for a loan or do I have to calm more on the existing loan. Ive tried to call the GOV Student Finance helpline but they were no good
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Question about changing or claiming on an existing maintain loan watch
- Thread Starter
- 18-10-2017 14:45
- Official Rep
- 19-10-2017 12:30
When you applied for student finance we would have asked you if you wanted to apply for non-means tested (NMT) or means tested (based on household income) funding and we would have asked you how much you wanted to borrow on the Loan Request part of the application. Assuming you started your studies in the 2017/18 academic year then the maximum NMT loan amount for living away from the parental home (elsewhere rate) for all three terms would be £3928. If you didn't select maximum on this section then you need to go onto your online account and access the 'loan amount' section to request this.
If you hadn't applied for means tested funding and if your parent(s) household income is less than £62180 then you would be able to get additional loan funding up to a maximum of £8430 (can get maximum if income less than £25000). To apply for this you would need to fill in a form to request us to means test your application and you can get this by clicking here. You would also need your parent(s) to fill in a PFF2 form. We are currently taking 22 working days to process these forms.
If you have still to change where you will be living during the academic year you need to go onto change your application and change your course details on your online account. It will let you update where you will be living during the academic year so we can reassess you for the higher elsewhere rate of loan. You can also update your term address on their too. After these changes are made online it would take up to 23 working days for us to reassess your application.