postgraduate loan affect on benefits/universal credit

Does the masters government loan stop universal credit? im currently searching for work but havent found it yet and have already applied for a course for masters, will i affect the universal credit significantly, if at all?

Reply 1

Paper_Flower

3

Original post by Kiddo276

Does the masters government loan stop universal credit? im currently searching for work but havent found it yet and have already applied for a course for masters, will i affect the universal credit significantly, if at all?

I'm interested in this as I am also currently on UC and applying for a masters. When I googled it it said that student loans would stop universal credit payments (but I don't know if this is undergrad or postgrad, it didn't specify), but when I mentioned it to my work coach she just said to get in contact if I get accepted and we can talk about how much my loan will be and how it will affect my UC. I have a feeling it will stop, but it's something you can talk about with your work coach (if you have a nice one, I know they're not always!).
If this happens soon I will come back and let you know, otherwise hopefully someone else who has already been through it will also comment. Good luck with your application!

Reply 2

KLW83

1

Hi. I was/am on UC and got the postgrad loan.They calculate it across the length of the course. Two thirds is counted as for fees - then one third is considered as unearned income - so mine was approx £11,500 divided by three then divided by 12 months. Then they discount £110 per month for study costs. Whatever is left they will reduce your UC amount pound for pound (not tapered like earned income is from a job). So £11,500 / 3 = 3,833 / 12 = 319 - 110 = 209 counted as unearned income. So £209 taken off my UC every month.

Reply 3

Kiddo276

OP

10

Okay. Thank you, thread can be closed or locked. I've decided against this career pathway, thanks for the help everyone

Reply 4

Emma911111

1

Original post by KLW83

Hi. I was/am on UC and got the postgrad loan.They calculate it across the length of the course. Two thirds is counted as for fees - then one third is considered as unearned income - so mine was approx £11,500 divided by three then divided by 12 months. Then they discount £110 per month for study costs. Whatever is left they will reduce your UC amount pound for pound (not tapered like earned income is from a job). So £11,500 / 3 = 3,833 / 12 = 319 - 110 = 209 counted as unearned income. So £209 taken off my UC every month.

Hey, thank you for this explantation! Does UC still expect you to look for work if you are on a full time masters degree?

Reply 5

Independerella

9

Original post by Emma911111

Hey, thank you for this explantation! Does UC still expect you to look for work if you are on a full time masters degree?

yes

postgraduate loan affect on benefits/universal credit

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