student finance

your maintenance loan is based of your previous year household income right? What happens if that household income will no longer sustain that amount of money for example if parent gets made redundant or fired. Will they take the new household income into consideration or will they still take it from the previous year. sorry if that didn't make sense

Hi Beth, if your household income has dropped by more than 15% then your parents can complete a Current Year Income form to provide their estimated 2020/21 tax year income. If they do this, it's important they update us if their income changes throughout the year because at the end of the tax year we will ask them to provide the actual income they earned with evidence and if their actual income doesn't match the estimated income they provided then it could cause you to be overpaid and be required to pay money back. Your parents can download this form here https://www.gov.uk/student-finance-forms/y/english-student-full-time/send-parent-or-partner-s-income-detail-for-example-pff2-or-cyi/
Thanks, Isaac

Thank you Isaac that was really helpful I will look into it