Going from a full time job to uni - does my salary get considered?

Watch
abi_0912
Badges: 9
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#1
Report Thread starter 2 weeks ago
#1
Hi, I am currently doing an Access to HE course and applying to uni next year, however the student finance situation is quite confusing.

I’ve worked a full time corporate job for 4 years with a decent salary, I am 25 and live with my partner. I am obviously going to be leaving this job when I apply to uni (hopefully quitting in May when my access course ends but potentially staying longer to be able to save some money).

However I’m seeing really mixed messages about whether this salary I earn now will affect the amount I qualify for as a maintenance loan. My partners salary will obviously be disclosed but do I need to include my salary from this job when I apply if I have quit it, as I’ve heard it’s done based on the amount you earn in the previous tax year which will obviously be a lot more than I will be earning when I am unemployed and a full time uni student.

From what I can tell when applying I need to put my partners income and income I get from "savings, investments or property, for example dividends or rent" (which would be none!) - is this correct?
Last edited by squiddoesuni; 2 weeks ago
0
reply
PQ
Badges: 21
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#2
Report 2 weeks ago
#2
The student earned income isn’t asked for as part of the household income assessment.
You will be asked to declare your expected unearned income (trust funds, rental income etc) for the academic year.
1
reply
Ceecee9
Badges: 8
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#3
Report 1 week ago
#3
Sorry to add to the mixed messages, but do think your income may be included in the assessment.
Note the "plus your own" at the bottom on the link, although agree with above there doesn't seem a place for this on the application, mixed messages even from govt/SFE

Although if you are giving up your job, you can claim a fall in income of more than 15% and so have it assessed on the current tax year, not previous. This will mean for the 1st year, your income will only be counted from April to leaving (& partners might increase in that tax period).


https://www.gov.uk/student-finance-calculator
0
reply
flamingolover
Badges: 20
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#4
Report 1 week ago
#4
(Original post by squiddoesuni)
Hi, I am currently doing an Access to HE course and applying to uni next year, however the student finance situation is quite confusing.

I’ve worked a full time corporate job for 4 years with a decent salary, I am 25 and live with my partner. I am obviously going to be leaving this job when I apply to uni (hopefully quitting in May when my access course ends but potentially staying longer to be able to save some money).

However I’m seeing really mixed messages about whether this salary I earn now will affect the amount I qualify for as a maintenance loan. My partners salary will obviously be disclosed but do I need to include my salary from this job when I apply if I have quit it, as I’ve heard it’s done based on the amount you earn in the previous tax year which will obviously be a lot more than I will be earning when I am unemployed and a full time uni student.

From what I can tell when applying I need to put my partners income and income I get from "savings, investments or property, for example dividends or rent" (which would be none!) - is this correct?
I don’t know anything about this but I know that there are SFE people on this site who answers questions about student finance so they could helP.

I know there’s a forum section called ask student finance but I’m not sure how you’d change this thread to be in that forum
Last edited by flamingolover; 1 week ago
0
reply
Ceecee9
Badges: 8
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#5
Report 1 week ago
#5
Also to add to this, do your sums to see if you are likely to repay before the end of the 30 years. You've said you are well paid, so may be lucky enough to do that, then it may be better not to take the maximum offered as you'll pay highly for any extra you might not "need" now (especially with a possible lowering of threshold). Its a very individual & difficult decision based on expected pay and current need
0
reply
PQ
Badges: 21
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#6
Report 1 week ago
#6
(Original post by Ceecee9)
Sorry to add to the mixed messages, but do think your income may be included in the assessment.
Note the "plus your own" at the bottom on the link, although agree with above there doesn't seem a place for this on the application, mixed messages even from govt/SFE

Although if you are giving up your job, you can claim a fall in income of more than 15% and so have it assessed on the current tax year, not previous. This will mean for the 1st year, your income will only be counted from April to leaving (& partners might increase in that tax period).


https://www.gov.uk/student-finance-calculator
Earned income of the student is not asked for as part of the household income assessment.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How would you describe the quality of the digital skills you're taught at school?

Excellent (18)
8.29%
Okay (64)
29.49%
A bit lacking (81)
37.33%
Not good at all (54)
24.88%

Watched Threads

View All