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Abit confused with my grant/loan watch

    • Thread Starter

    Hey, so received my Student loan/grant notification through the post yesterday.
    Apparently, I'm receiving 3497 loan and 2906 grant.
    However, in the maintenance loan box it has;
    Basic loan (non-income assessed) : 3564
    Plus loan subject to income assessment: 1386
    Less loan substituted for grant*: 1453
    Less assessed contribution to living costs: 0

    Can anyone make sense of this for me please.
    I get that I'm receiving 3497 loan and 2906 grant, but i'm rather unsure of what the 1386 and 1453 is?
    Sorry if I'm being a tad confusing.

    Basically, people on low incomes get extra loan (£1386 in your case), but because you also get a grant, that replaces £1453 of the loan, which is why you get £3497 in loan rather than the £3564 basic loan. Because you get such a large grant as well, though, you're still coming out ahead overall - you just have less as loan and more as grant, so less to pay back.
    • Thread Starter

    Aw right, I get it now, thanks !
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