Student maintenance loan(4 Posts)
bigbluebus Sun 11-Jun-17 22:04:54
HelenMcHelen Sun 11-Jun-17 22:10:22
MarieMorgan Sun 11-Jun-17 22:14:38
bigbluebus Sun 11-Jun-17 22:21:48
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DS has just applied for his student loan for Sept 2017 and I have received an email asking for income details for the year 2015/16. My income now is considerably less than it was in that year, so if I fill in details for the year requested then DS may get less. How do I inform them of my current income to make sure DS gets the correct funding?
It's an online form and there is space somewhere I recall to tick a box if your income has reduced by more than x%.
Yes, there is a box you tick to say your income has reduced and then you are asked to provide details of projected income for 2017/18. If you have a partner who is also providing financial details you should be aware that they will also need to provide projected income for 17/18 as it will be worked out for both people for the same year (e.g. you can't provide your details for 17/18 and your partner provide details for only 15/16).
OK thanks, have found something about it now - it applies if 15% reduction. Will have to do some calculations. I do have a DH and his income will be more or less the same and he's on PAYE - so easy enough to assess. My income is currently Nil which it wasn't in 2015/16 or 2016/17. Of course the projection assumes I remain out of work - that could change but who knows. Looking at the maintenance loan sliding scale we are talking a difference of hundreds not thousands difference for DS so wouldn't be the end of the world if I declared Nil income and then started working again.