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Household income thresholds for maintenance loan?

(12 Posts)
Holidayshopping Thu 04-Apr-19 12:51:53

Can anyone point me in the right direction for information (a table of facts would be nice!) showing what the household income thresholds are for student maintenance loan amounts? I presume the less you earn, the more they can borrow-but what are the cut offs/limits?

OP’s posts: |
redwoodmazza Thu 04-Apr-19 12:56:42

Maybe this could help?

www.gov.uk/student-finance

Mustbetimeforachange Thu 04-Apr-19 12:57:02

There's a calculator here www.gov.uk/student-finance-calculator
Also gave a look at Money saving expert, I'm not sure if they are listed on there

eatingtomuch Thu 04-Apr-19 13:51:34

I used the online calculator putting in different household incomes. You don't submit the information so you can do this as often as you would like.

I was trying to see the impact if I took on some additional responsibilities at work which would then mean a pay rise.

Holidayshopping Thu 04-Apr-19 14:16:21

This is what I was looking for!

Thank you for your replies

OP’s posts: |
MarchingFrogs Thu 04-Apr-19 19:08:05

Mustbetimeforachange's link will give you / your DC a more precise figure for your individual circumstances, however.

Btw, if you know that your income exceeds the cut-off for the means-tested element of the maintenance loan, there is no need for your DC to apply for it. Saves you going through the assessment process, only for them to be told what tbey knew already.

Holidayshopping Thu 04-Apr-19 19:09:32

Btw, if you know that your income exceeds the cut-off for the means-tested element of the maintenance loan, there is no need for your DC to apply for it. Saves you going through the assessment process, only for them to be told what tbey knew already.

That’s really useful to know, thank you!

What process do you have to go through to the non-means tested part?

OP’s posts: |
MarchingFrogs Thu 04-Apr-19 23:07:18

www.gov.uk/apply-online-for-student-finance?step-by-step-nav=18045f76-ac04-41b7-b147-5687d8fbb64a

Xenia Fri 05-Apr-19 16:58:45

And just to be clear £4050 is the minimum maintenance loan - the table pasted above only shows the loan for incomes up to £45k.The bands go higher and as they go higher the amount students receive get less (and get much less than most halls rents).

Holidayshopping Fri 05-Apr-19 17:11:27

the table pasted above only shows the loan for incomes up to £45k.

Look at the second table, @Xenia

OP’s posts: |
Xenia Fri 05-Apr-19 22:19:28

Ah, sorry about that. I am just not very good at looking at images pasted on mumsnet! I now see I can click on each one.

It is a very important point of the higher earner parents however - that they might get 4050 maintenance loan only and yet hall fees can be £7800 (my twins last year I think). That is quite a big discrepancy even if you have £62k gross (£44k net) pay particularly if you have a rent/mortgage to pay too and other children.

AtiaoftheJulii Sat 06-Apr-19 17:19:54

Was about to recommend that save the student site, have found it to be a good source of information.

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