jelly06
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Does anyone know how student finance works for mature students? (I’m going to be 23 by the begging of the course)
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PQ
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(Original post by jelly06)
Does anyone know how student finance works for mature students? (I’m going to be 23 by the begging of the course)
23 isn't automatically classed as independent. Your household income will be based on your parents unless you meet one of the criteria:
- orphaned
- irreconcilably estranged from your parents
- parent to a child
- married
- financially independent for 3 years (36 months) before the start of the course
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jelly06
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(Original post by PQ)
23 isn't automatically classed as independent. Your household income will be based on your parents unless you meet one of the criteria:
- orphaned
- irreconcilably estranged from your parents
- parent to a child
- married
- financially independent for 3 years (36 months) before the start of the course
Thanks
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Stephb1502
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(Original post by PQ)
23 isn't automatically classed as independent. Your household income will be based on your parents unless you meet one of the criteria:
- orphaned
- irreconcilably estranged from your parents
- parent to a child
- married
- financially independent for 3 years (36 months) before the start of the course
What they said! So it would be assessed on your parents income if none of the above relate to yourself
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ts.MCR
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I don't know in my case, since I am 40yo with full-time employment, married and 2 children, but will probably need to leave the company to take the course.
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PQ
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(Original post by ts.MCR)
I don't know in my case, since I am 40yo with full-time employment, married and 2 children, but will probably need to leave the company to take the course.
Which post are you replying to?
If you’re 25 or over or meet any of the criteria listed below then you’ll be classed as independent
(Original post by PQ)
23 isn't automatically classed as independent. Your household income will be based on your parents unless you meet one of the criteria:
- orphaned
- irreconcilably estranged from your parents
- parent to a child
- married
- financially independent for 3 years (36 months) before the start of the course
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Nursingdegrees
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Hi guys. I have a question regarding income assessment for student finance maintenance loan. I wonder if you could help me understand this.I am a mature student and will be starting an undergraduate course in September 2021. I am an EU citizen with a settled UK status. I am also married and live with my husband. At the moment both I and my husband are both full-time employed, however, I plan to quit my job in September when I will be starting my course which will be full-time. Obviously, there will be a significant drop in my income. At the moment I earn about £28,000 per year before tax and national insurance contributions, however, I will be going to pretty much £0 income.When I apply for student finance for academic year 2021-22, how should I declare my income? They are asking for the previous tax year's income (2019-2020). Would they consider a change in my income from September 2021? If anyone could clarify this for me that would be greatly appreciated!Thanks!
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PQ
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(Original post by Nursingdegrees)
Hi guys. I have a question regarding income assessment for student finance maintenance loan. I wonder if you could help me understand this.I am a mature student and will be starting an undergraduate course in September 2021. I am an EU citizen with a settled UK status. I am also married and live with my husband. At the moment both I and my husband are both full-time employed, however, I plan to quit my job in September when I will be starting my course which will be full-time. Obviously, there will be a significant drop in my income. At the moment I earn about £28,000 per year before tax and national insurance contributions, however, I will be going to pretty much £0 income.When I apply for student finance for academic year 2021-22, how should I declare my income? They are asking for the previous tax year's income (2019-2020). Would they consider a change in my income from September 2021? If anyone could clarify this for me that would be greatly appreciated!Thanks!
Household income assessment does not ask for the earned income of the student applying. You can earn as much or as little as you like alongside your studies and it will not affect your loan amount.
Only "unearned" income of the student applying (trust funds, rental income from properties etc) is counted as household income.

You won't be asked for your earned income for any tax year - you'll only be asked for "unearned" income and the income of your husband.
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Nursingdegrees
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(Original post by PQ)
Household income assessment does not ask for the earned income of the student applying. You can earn as much or as little as you like alongside your studies and it will not affect your loan amount.
Only "unearned" income of the student applying (trust funds, rental income from properties etc) is counted as household income.

You won't be asked for your earned income for any tax year - you'll only be asked for "unearned" income and the income of your husband.
Hi, many thanks for your help - this makes sense now! Much appreciated.
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Nursingdegrees
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Hi again,

I am still slightly confused about thsi.

I am just looking at the gov.uk website student finance calculator and it asks: What's your annual household income?
This is your parents’ or partner’s taxable income plus your own. It affects how much help you'll get with living costs.

What do they mean by 'your own' ? - I believe this refers to your earned income?

Thanks,

Egle
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PQ
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(Original post by Nursingdegrees)
Hi again,

I am still slightly confused about thsi.

I am just looking at the gov.uk website student finance calculator and it asks: What's your annual household income?
This is your parents’ or partner’s taxable income plus your own. It affects how much help you'll get with living costs.

What do they mean by 'your own' ? - I believe this refers to your earned income?

Thanks,

Egle
It's crap wording on the calculator

The wording on the form asks for
"Unearned income
"a Taxable unearned income is any income you receive from the following sources:
"• Bank or building society gross interest
"• Property, lettings or rent
"• Dividends or investments
"• Trusts or sponsorships
"• Any other payment received for attending the course
"Estimate the total taxable unearned income, before deductions, that you expect to receive in academic year 2021/22."
https://media.slc.co.uk/sfe/2122/ft/...orm_2122_o.pdf page 26

https://www.gov.uk/student-finance-f...021-to-2022/no
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Nursingdegrees
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(Original post by PQ)
It's crap wording on the calculator

The wording on the form asks for
"Unearned income
"a Taxable unearned income is any income you receive from the following sources:
"• Bank or building society gross interest
"• Property, lettings or rent
"• Dividends or investments
"• Trusts or sponsorships
"• Any other payment received for attending the course
"Estimate the total taxable unearned income, before deductions, that you expect to receive in academic year 2021/22."
https://media.slc.co.uk/sfe/2122/ft/...orm_2122_o.pdf page 26

https://www.gov.uk/student-finance-f...021-to-2022/no
It is crap wording, haha! Thanks a lot for clarifying this to me again. Appreciate your time!
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