Maintenance/Long course loans

Hello,Our son is off to Uni this September and wanted to ask how the loan structure works? I have recently started a new business and so the household income can fluctuate month to month. Is this taken into consideration when our son applies for loans? When the money is there its a pleasure to assist, but it isn't guaranteed and we would like him to study worry free.

Hello Erin,Thanks for the reply.I doubt it will drop 15%, but as a newish business it is hard to say.What difference would this make?All the bestSpencer.

Hello Spencer,

As Erin, has confirmed we initially require your 17/18 tax year details. If the overall household income has dropped by 15% or more, we can consider a current year income assessment. To enable us to carry out a new assessment you and your partner must complete the Current Year Income Form (CYI) with the estimated income details for the current tax year (19/20), the form will be available from the 6th of April 2019.- http://ow.ly/aSjL30ok50x
We will contact you and your partner at the end of the tax year and ask you to complete a PR2 form and send evidence to confirm your 19/20 income.

Current Year Income (CYI) Guide- http://ow.ly/rRwS30ok4Kr

Thanks, Lynsey.

Many thanks Lynsey.