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Previous years income? watch

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    So I've been calculating my eligible finance amount before I actually apply, but I'm worried about the fact that finance (maintenance loan) is based off previous years income? I am a mature student, and was previously living alone and working full time, thus my previous years income was above 20 thousand. I am now living with parents and have been since August 2017, my income is now very low (under 6 thousand) and my parents is in the 40's. If my previous years income is included surely the amount overall would be like 60 thousand?

    I've read up you can apply for current years income if there's been a drop, from April onwards. However from April-August I was still living independently and working full time thus my income will appear extremely skewed, since from August onwards I have been living with parents and I am completely dependent on my parents now!
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    (Original post by "mature"student)
    So I've been calculating my eligible finance amount before I actually apply, but I'm worried about the fact that finance (maintenance loan) is based off previous years income? I am a mature student, and was previously living alone and working full time, thus my previous years income was above 20 thousand. I am now living with parents and have been since August 2017, my income is now very low (under 6 thousand) and my parents is in the 40's. If my previous years income is included surely the amount overall would be like 60 thousand?

    I've read up you can apply for current years income if there's been a drop, from April onwards. However from April-August I was still living independently and working full time thus my income will appear extremely skewed, since from August onwards I have been living with parents and I am completely dependent on my parents now!
    Hi 'mature'student,

    If you are over the age of 25 years prior to the start of the academic year you will be classed as an independent student for the purposes of assessing student finance. We would not take any students income into account for the tax year 16/17 it would be only any spouse/partners income if the student was over 25 living with partner or married. If the student is under 25 then it would be assessed on their parent's income.

    If you are under 25 years old but have been self supporting for 3 years prior to the start of your course you can provide evidence of your income and you can be assessed as independent.


    Thanks

    Louise
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    (Original post by Louise E SFE)
    Hi 'mature'student,

    If you are over the age of 25 years prior to the start of the academic year you will be classed as an independent student for the purposes of assessing student finance. We would not take any students income into account for the tax year 16/17 it would be only any spouse/partners income if the student was over 25 living with partner or married. If the student is under 25 then it would be assessed on their parent's income.

    If you are under 25 years old but have been self supporting for 3 years prior to the start of your course you can provide evidence of your income and you can be assessed as independent.


    Thanks

    Louise
    Hi thanks for your reply, I'll try to diverge more specific information as I'm still confused on my situation.

    I am below the age of 25 (22), I was indeed self-supporting, from November 2014-August 2017 (so under 3 years) and as of August 2017 have become dependent on parents. So where does that leave me? Would it be my parents yearly income from April 2017-2018 (once it hits april) + my own because that would be inflated due to me working full independently during the months of April-August 2017?
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    (Original post by "mature"student)
    Hi thanks for your reply, I'll try to diverge more specific information as I'm still confused on my situation.

    I am below the age of 25 (22), I was indeed self-supporting, from November 2014-August 2017 (so under 3 years) and as of August 2017 have become dependent on parents. So where does that leave me? Would it be my parents yearly income from April 2017-2018 (once it hits april) + my own because that would be inflated due to me working full independently during the months of April-August 2017?
    Hi "mature"student,

    If you are under 25 years we would assess you on being dependent on your parents and it is their household income we would ask you to provide.

    On the application we only ask for a student to provide their unearned income.

    If you wish to be assessed as independent, 3 years (36 months) worth of evidence is required, however it does not have to be consecutive years. We would not use this income in the assessment.

    Regards Rona
 
 
 
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