Turn on thread page Beta

Abit confused with my grant/loan watch

    • Thread Starter
    Offline

    0
    ReputationRep:
    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.
    Thanks.
    Offline

    12
    ReputationRep:
    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
    Offline

    0
    ReputationRep:
    Aw right, I get it now, thanks !
 
 
 
Poll
How are you feeling in the run-up to Results Day 2018?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.