Student finance when living at home(12 Posts)
My DD has decided that she will now probably go to our local Uni so will be living at home. How does our finances which at the moment are benefit based affect how much student finance she will get?
Also I am applying for the same Uni as well, how will that work out?
Would it be best to speak to the uni direct? No idea, sorry, but hope someone else or the uni can help.
She will receive significantly less because she is living at home.
You can work out how much less by using the SF calculator www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680136&_dad=portal
Sorry, that link won't work because there's a comma in there, so you'll have to copy and paste it into the address bar http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680136&_dad=portal
Thanks just checked and it looks like a drop of about £800 per year. Hopefully this could be made up by the disability support available
I think I am going to have to ring them to see what will happen if I get into Uni as well
Hi Debs75. Just to let you know students don't usually get actuall money for the Disability support which I presume you mean is Disabled Students Allowance. They usually get things like laptops, software and other stuff to support them according to their individual needs. DD3 has various thing including once a study support tutor who she sees once a week.
Presumably she is not paying you a comercial level of rent though, so she will be able to live on what she is given. In general, those who live at home are often a lot better off in terms of having spending money than those who rent, as those students will be paying for rent, transport home, and in first year may need to buy lots of new stuff (E.g. plates, cutlerly, pans etc.) which she will have access to at home. £800 is around 4-6 months rent for most students.
The funding will not be based on your current income but the information you give about your income when you apply, so you going to uni will not have an effect on her funding for the first year at least. If your income will drop substantially, it may make a difference to the ammount of grant vs loan she will get in future years (if she is not already getting the maximum grant). As you are already on benefits, the total funding she gets won't increase, as she will already be getting the maximum.
Do check to see if either of you are entitled to bursaries from the university. These are often available for low income students and sometimes you will get extra if the university is your closest university. Usually you'll recieve these automatically by applying for student finance, but do check with the university.
Thanks Slow I think we will ring Student finance and have a chat about all the variables involved. Her preferred Unis all had accommodation at around £90 per week so her living at home will save her that amount. I think she will get about £70 per week if the mount given is over 52 weeks
Maintenance loan is given in 3 installments. Usually at the beginning of each term.
When working out the cost of her staying at uni, you can't just look at the fact that she won't be paying rent. You need to consider transport, and you need to assume that she will need to be in uni five days a week, arriving before 9am. So, trains / buses / petrol + MOT + insurance + tax + parking. Then make sure that you budget for taxis for when she wants to go on a night out too.
Even if she has few contact hours she still needs to budget to be going to uni five days a week and starting at 9am - I have 6 contact hours a week this semester, and that's spread out over 4 days a week.
If your income will drop by 15% or more this tax year, you can ring student finance and ask for a current year assessment.
And as mumeeee says, DSA is not given in cash, and student finance comes in three equal lump sums, in September, January and April.
Transport to Uni is £10 per week and if she needs to be there on days I am, very likely as I will be there 9am-5pm most days, I will drive us.
I don't know how our family income will drop as I don't know what tax credit if any we will get with her at Uni.
Am going to see the HE advisor at college and ask her for as much info on student finance as I can.
You're usually assessed on last year's earnings, but if you think this year's will be considerably different, you can ask to be assessed on this year's.
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