Do jobs affect maintenance loan?

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Cloudiii

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So I am planning to get a job to save up a little before going uni but I noticed in the student finance calculator thing it asks you to put in your household income. I would only work before uni and probably won’t when I actually start so I don’t know how this would affect the loan and if you can change it. So Yh just wondering if it affects your loan even if you don’t work at uni. Thank you.

MedicWil

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It's based on the previous tax years earnings as far as I'm aware but I'll tag SFE Isaac as he's an official representative of SFE and resident expert on these things

Last edited by MedicWil; 2 weeks ago

SFE Isaac

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(Original post by Cloudiii)
So I am planning to get a job to save up a little before going uni but I noticed in the student finance calculator thing it asks you to put in your household income. I would only work before uni and probably won’t when I actually start so I don’t know how this would affect the loan and if you can change it. So Yh just wondering if it affects your loan even if you don’t work at uni. Thank you.

(Original post by MedicWil)
It's based on the previous tax years earnings as far as I'm aware but I'll tag SFE Isaac as he's an official representative of SFE and resident expert on these things

Good morning,
We do not require the students earned income. Only if your employer will be releasing you to study (paying you a salary to go to university) or if you have any unearned income (like from renting property, bank interest etc).

If you are applying for the 21/22 academic year then we will take the 19/20 tax year household income. If you are under 25 years old and want to apply for the higher rate of funding, you will need to provide your parents 19/20 tax year financial details or you must meet the independent student criteria listed here http://ow.ly/q5mJ30oSfa5

Thanks, Isaac

Mand1214

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Hi there SFE Isaac
lease can I just clarify. In tax year 19/20 my partner earned 34k I earned around 19k is this the amount my maintenance loan will be based on. I will not be working whilst at university will that not be taken into consideration. If I honest I am worried about finances.
Thanks

Last edited by Mand1214; 2 weeks ago

SFE Isaac

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(Original post by Mand1214)
Hi there SFE Isaac
lease can I just clarify. In tax year 19/20 my partner earned 34k I earned around 19k is this the amount my maintenance loan will be based on. I will not be working whilst at university will that not be taken into consideration. If I honest I am worried about finances.
Thanks

If you are over the age of 25 then yes we will take your partners 19/20 income. So if your household income was 34k then the Maintenance Loan amount awarded to you will be based on that. Your 19k earnings won't be taken into account as we don't need to know the students income(unless you meet the criteria I mentioned in my first post)
Thanks, Isaac

Mand1214

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(Original post by SFE Isaac)
If you are over the age of 25 then yes we will take your partners 19/20 income. So if your household income was 34k then the Maintenance Loan amount awarded to you will be based on that. Your 19k earnings won't be taken into account as we don't need to know the students income(unless you meet the criteria I mentioned in my first post)
Thanks, Isaac

Thank you.
I have 2 children under 17 . Will I quality for the parent learner part ?

Thanks again

SFE Isaac

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(Original post by Mand1214)
Thank you.
I have 2 children under 17 . Will I quality for the parent learner part ?

Thanks again

With 34k household income you will be ineligible for any additional grants. What is your partner expected to earn in the upcoming 21/22 tax year roughly? Would it be 15% less then the 19/20 tax year?
Thanks, Isaac

Mand1214

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(Original post by SFE Isaac)
With 34k household income you will be ineligible for any additional grants. What is your partner expected to earn in the upcoming 21/22 tax year roughly? Would it be 15% less then the 19/20 tax year?
Thanks, Isaac

Yes tax year of 20/21 it will be less around 28k due to furlough

Thank you

SFE Isaac

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(Original post by Mand1214)
Yes tax year of 20/21 it will be less around 28k due to furlough

Thank you

If your household income has dropped by more than 15% then your sponsor can complete a Current Year Income form to provide their estimated 2021/22 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 sponsor(s) can download this form here https://www.gov.uk/student-finance-f...e-pff2-or-cyi/ in April.
Thanks, Isaac