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How on the earth do they calculate maintenance loans?

(10 Posts)
AvaCrowder2 Fri 23-Jun-17 00:27:06

My dc doesn't qualify for one.

But why is it £11,002 per year? Where does the £2 come in?

I wanted to see what would be fair to give my dd. It's a lot of money though, to borrow or not.

OP’s posts: |
Ocies Fri 23-Jun-17 07:01:48

Everyone qualifies for a maintenance loan, it just varies based on parental income.

Havingahorridtime Fri 23-Jun-17 07:17:03

All the maximum loan amounts are random figures. I think they work it out based on a weekly average of what each student needs to live in based on where they live etc.

AvaCrowder2 Fri 23-Jun-17 11:45:16

I didn't think that everybody did qualify, although you are right in that my dd does, just for £nil.

It seems like a lot of debt to me, whilst not really being enough to live on.

OP’s posts: |
Chopchopbusybusy Fri 23-Jun-17 11:59:15

Are we talking about maintenance loans for university students in England?
If so everyone can borrow the minimum which is about £3700.

AvaCrowder2 Fri 23-Jun-17 12:39:13

Yes that's right. I didn't know that, they emailed me, asked about our incomes and willingness to support her, then gave the amount as nothing. I'll have another look.
Thanks.

OP’s posts: |
AvaCrowder2 Fri 23-Jun-17 12:44:14

I did the calculator and it came up with £5479. I'll have to have a chat with dd about it.

Thanks again everybody, I'm glad I asked about it.

OP’s posts: |
Lucysky2017 Fri 23-Jun-17 21:00:04

Everyone in England gets one even if their parents are worth £100m (although plenty of children with well off parents choose not to take any loans of any kind).

mumeeee Fri 23-Jun-17 23:47:07

Everyone gets a minimum loan which is almost £4000. Parents don't have to be assessed for the minimum loan only if you want more.

bigbluebus Thu 29-Jun-17 16:32:50

All qualifying students get a maintence loan according to the following:

Household IncomeMaintenance Loan
<£25,000 £8,430
£30,000 £7,825
£35,000 £7,220
£40,000 £6,615
£45,000 £6,009
£50,000 £5,404
£55,000 £4,799
£60,000 £4,193
£62,187+ £3,928
If your parents earn above £25,000/year they are expected to help you out (more on that below).

Although I think they might be last years figures as I'm pretty sure DS is getting marginally more than the figure quoted in our income bracket.

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