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Student finance - 2 kids from same household, very different loans offered by student finance

(11 Posts)
theblackhen Sun 10-Apr-16 19:23:37

I'm posting here for traffic in the hope that someone on here will know how these things work?

We are a household with 2 students in the same year.

We have filled in our household finances and the student finance people have now told the kids what their loans will be.

One is going to receive £7392, the other is going to receive £4949. One is going to a London uni, but I understood that £1500 would be given to the student studying in London.

Is this correct? Does the student going to London get £2443 more despite coming from the same household?

GhoulWithADragonTattoo Sun 10-Apr-16 20:02:27

Doesn't sound right. I'd give them a call tomorrow.

OddBoots Sun 10-Apr-16 20:07:18

www.gov.uk/student-finance/new-fulltime-students - This suggests about £2 500 difference between in and out of London so it's probably right.

MadameJosephine Sun 10-Apr-16 20:12:13

According to student finance the maximum loan for London is £10700 while it's only £8200 outside London so it's probably right. Have you tried putting your figures into the calculator?

www.gov.uk/student-finance-calculator

SilverHawk Sun 10-Apr-16 20:12:52

Just make sure that all parties are cross linked. Parent(s) to child 1 and child 2 but also child 1 to child 2. This somehow changes the 'equation' but I never worked out how.

thelonggame Sun 10-Apr-16 20:24:05

my daughter will be studying in London and is eligable for £5,330, out of London would have been £3,821.
I've just looked at the calculator and your figures look right.

theblackhen Sun 10-Apr-16 20:25:13

Thank you for replying.

I think I expected the kids to get the bare minimum loan and the "London difference" is £1500 when they receive that.

As they are now getting more than we initially thought, the London difference is significantly more.

modelthroughit Sun 10-Apr-16 20:26:16

Yes, that seems about right, based on the online calculator.

SeriousCreativeBlock Sun 10-Apr-16 20:32:29

It is right. I went to Queen Mary for six months and got significantly more than I do now at a Midlands university.

Redderred Sun 10-Apr-16 21:56:33

Yes they definitely get that much more for studying in London. Which is shock

JoffreyBaratheon Sun 10-Apr-16 22:16:26

Even if it's right I wouldn't trust them an inch actually to pay it out on time.

We have two sons one university year apart, and have had nightmarish episodes with Student Loans making terrible errors - not paying out for weeks and weeks, inefficiency after inefficiency - rude and inaccurate employees on the phone. Etc, etc. Happened with both sons now (once because they forgot to link our son's bank details correctly on their own system then took a month to correct their own error, lying and covering their arses the whole way).

They really need shutting down.

Nothing they tell you is likely to accurate.

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