Student Finance and inheritance

Hi!

I am starting University in September 24, my grandmother passed away in July last year and we've just sold the house and probate is done.

I currently receive Universal Credit and my dad who I live with, receives ESA. He is due to receive £100,000 from the Inheritance and I am due to receive about £3000.

I am wondering if his or my inheritance will affect my student finance? Or if I need to write about it when applying for student finance.

The inheritance could also come after the application for finance opens would that affect my loan I am getting.

Any help would be appreciate!

Thank you!

Reply 1

Calum SLC

Official Rep

Hi Jesslaa7,

We don't take into account a student's own income when calculating the means tested element of the maintenance loan. In any case we use income from your sponsors from the last completed tax year, which for 24/25 applications will be the 22/23 tax year

Inheritance payments are subject to inheritance tax, not income tax, therefore we will not consider this when calculating a students entitlement to support

Thanks,
Calum

Reply 2

Jesslaa7

What evidence would i need to provide financially, of my parents since my dad is on esa and my mum is the carer

Reply 3

Calum SLC

Official Rep

Hi Jesslaa7,

If your parents live in the UK they would simply need to support your application by providing their National Insurance number and we would check their income for the relevant tax year with HMRC, we wouldn't require any evidence

Thanks,
Calum

Reply 4

Jesslaa7

Perfect thank you!

Reply 5