Starting a business

Hi am Nathan
Am starting a small business, am not sure if it will affect my student finance loan to go to university and if i need to tell SFE about it or they don’t need to know.
Thanks

Reply 1

Claire SFE

Official Rep

Original post by upcoming-profess

Hi am Nathan
Am starting a small business, am not sure if it will affect my student finance loan to go to university and if i need to tell SFE about it or they don’t need to know.
Thanks

Hi Nathan,

Are you starting a course in 24/25 academic year?

Thanks,
Claire

Yes

Original post by upcoming-profess

Yes

Hi there, you would declare any unearned income you expect to receive during 24/25 (if that's when you are studying). Thanks, Jason

Reply 4

upcoming-profess

What does unearned income mean
Is that like running my own business

Reply 5

SFE Jason

Official Rep

Original post by upcoming-profess

What does unearned income mean
Is that like running my own business

Hi Nathan, Unearned income is any income that an individual has which is not a pension and has not been earned by them as an employee, by carrying out a profession or by running their own business. Although this list is not exhaustive, unearned income includes: interest from bank and building society accounts. Bank or Building Society Gross Interest

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Property Lettings or Rent

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Dividends from investments/shares/unit trusts

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Trusts or Sponsorships

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Pensions

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Payment from your employer who has released them to attend your course.