The Student Room Group

Redundancy and Finance Application

Myself and my husband are being made redundant in a few months (company closing, date tbc, probably April for husband, July for me)
Our daughter will be going into the second year of her course in September and she currently gets just above the minimum loan, which doesn't even cover her rent as she's near London.
I know there's a form you can complete for an 'in year' calculation, but with the date of the redundancies being uncertain/close to when she'll need to apply to get the money in time, how would we even fill it in?

Reply 1

Original post by ninamd7814
Myself and my husband are being made redundant in a few months (company closing, date tbc, probably April for husband, July for me)
Our daughter will be going into the second year of her course in September and she currently gets just above the minimum loan, which doesn't even cover her rent as she's near London.
I know there's a form you can complete for an 'in year' calculation, but with the date of the redundancies being uncertain/close to when she'll need to apply to get the money in time, how would we even fill it in?

Hi Nina,

You'd still provide your 23/24 income for us to make the initial assessment but you can complete a 25/26 CYI form (these aren't live yet) with your estimated income for the 25/26 tax year. If there's estimated to be a drop of 15% or more then we'd assess the student based on your 25/26 expected income rather than 23/24. The forms are expected to be available towards the end of April (as an estimated date). You can always contact us here for assistance when it's available or for help completing it. Thanks, Jason

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