The Student Room Group

Will my current salary determine my maintenance loan?

I will be a mature student going to University this autumn to do my undergrad. I am wondering if my current salary, and the salary that I will be earning until September will determine how much maintenance loan i get. I have a pretty decent salary but i also pay high rent and a big chunk of this goes into my savings every month. I am worried that Student finance will look at my earnings and determine that I am only eligible for the minimum. Of course I am not going to be earning the same salary, and the idea is that I don't want to work at all whilst trying to study. Has anyone had this issue before?
Original post by Arhaz
I will be a mature student going to University this autumn to do my undergrad. I am wondering if my current salary, and the salary that I will be earning until September will determine how much maintenance loan i get. I have a pretty decent salary but i also pay high rent and a big chunk of this goes into my savings every month. I am worried that Student finance will look at my earnings and determine that I am only eligible for the minimum. Of course I am not going to be earning the same salary, and the idea is that I don't want to work at all whilst trying to study. Has anyone had this issue before?

Hi Arhaz, we don't look at your own income when determining your funding as you're the student. Thanks, Jason
Reply 2
Hi Jason, thanks for the response. I should have also said that I am over the age of 25 and therefore an independent learner. It is my understanding that we get assessed as just that.
Original post by Arhaz
Hi Jason, thanks for the response. I should have also said that I am over the age of 25 and therefore an independent learner. It is my understanding that we get assessed as just that.

Hi,

Yes, if you're over 25 we will class you a independent. Do you have a partner/married or have children?

Thanks,
Claire
Reply 4
Original post by Claire SFE
Hi,
Yes, if you're over 25 we will class you a independent. Do you have a partner/married or have children?
Thanks,
Claire

Hi Claire, none of the above do I have! Thanks
Original post by Arhaz
Hi Claire, none of the above do I have! Thanks

If you have none then you should be awarded the maximum classed as being independent. I would advise applying if you haven't already as applications can take 6-8 weeks to process once we have everything from you.

Thanks,
Claire
Reply 6
Original post by Claire SFE
If you have none then you should be awarded the maximum classed as being independent. I would advise applying if you haven't already as applications can take 6-8 weeks to process once we have everything from you.
Thanks,
Claire

Thanks, that is helpful! I just applied this weekend just gone
Hi Arhaz,

You're welcome, have a nice day :smile:

Thanks,
Calum
Reply 8
Original post by Calum SLC
Hi Arhaz,
You're welcome, have a nice day :smile:
Thanks,
Calum

Hi there,

Sorry I have one more question! I actually hold a stocks and shares ISA for my savings, through this I earn a minuscule amount of dividends quarterly, not enough to make a difference every month by any means . Are these going to affect my maintenance loan? How do you assess these? These obviously go toward my savings and don’t reach my bank account. What is the stance on this?

Thanks!
Hi Arhaz,

You will need to declare any unearned income you receive when making your application. This would include income from dividends.

Thanks,
Calum

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