Student finance question Watch

Loyal____
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I have recently been accepted to go to university and have had my student finance accepted. I am getting both the tuition and maintenance loans. As I am currently living with my mum who's on her own the household income is low meaning that I have got a high amount of a maintenance loan. The problem is that my mum is planning on selling the house we are in and going into rent leaving her with quite a bit of money which she plans to use for the rent. Will the money she gets from the house affect my student loan amounts at all? Also as the student loan has already been accepted, if it does affect me will it affect me this year or next?
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Liverpool Hope University
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(Original post by Loyal____)
I have recently been accepted to go to university and have had my student finance accepted. I am getting both the tuition and maintenance loans. As I am currently living with my mum who's on her own the household income is low meaning that I have got a high amount of a maintenance loan. The problem is that my mum is planning on selling the house we are in and going into rent leaving her with quite a bit of money which she plans to use for the rent. Will the money she gets from the house affect my student loan amounts at all? Also as the student loan has already been accepted, if it does affect me will it affect me this year or next?
Hello,

I don't believe it should be an issue. Student Finance require any taxable income to be declared which i don't believe house sales fall under.

It is probably best to check with them in any case to ensure everything is above board.

I hope this helps.

Patrick :lep:
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999tigger
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(Original post by Loyal____)
I have recently been accepted to go to university and have had my student finance accepted. I am getting both the tuition and maintenance loans. As I am currently living with my mum who's on her own the household income is low meaning that I have got a high amount of a maintenance loan. The problem is that my mum is planning on selling the house we are in and going into rent leaving her with quite a bit of money which she plans to use for the rent. Will the money she gets from the house affect my student loan amounts at all? Also as the student loan has already been accepted, if it does affect me will it affect me this year or next?
You should check this with SFE plus you can use the student loan calculator.
My understanding it is the previous years income on which the loan calculation is based, so if it hasnt happened yet it wont affect you.
In respect of savings they count unearned income from those savings as part of the parental income. You would need to see how much income is generated. Interest rates are low so it would have to be a very large amount to generate enough interest.

Ask SFE here.
https://www.thestudentroom.co.uk/forumdisplay.php?f=910
The student finance calculator is here.
https://www.gov.uk/student-finance-calculator
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Loyal____
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Thanks for the responses. I have posted a thread over in the SFE forum. Hopefully it won't affect me at all.
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Amy SFE
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(Original post by Loyal____)
Thanks for the responses. I have posted a thread over in the SFE forum. Hopefully it won't affect me at all.
Hi there,

We have responded to your query over on the SFE forum.

Thanks, Amy
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