Uni fees / loans / bursaries for complete novice

(9 Posts)
11hairylegs Tue 22-Oct-19 10:38:28

Hi, my only child is heading off to uni next sept (assuming they gets in) and I have no real idea how financial help works and what there is.
I know the fees are in the form of a loan but how does the rest work please?
They have autism and will need some support (they get dla).
I am a single mum who works part time and is disabled and I get pip.
I’m also more than a bit worried how this will impact me as I rely on tax credits to make ends meet.
Help please! Thanks.

OP’s posts: |
Xenia Tue 22-Oct-19 15:07:40

I don't know about tax credits but the loan side is that you can borrow all the fees and you can borrow for those in a low income about £8,9440 outside of London which is enough to cover your university rent and your food/expenses etc. (in England). If your parents are better off you can only borrow about £4k plus the fees amount which is not then enough to pay your rent which is when parents can if they choose step in and pay the difference up to the full loan amount of about £9k.

You only pay any of that back if you earn over £25k and only pay back 9% of your earnings over £25k in that year ( so if you earn £30k you pay back £500 a year).

Scotland is different and those in Wales pay less.

LIZS Tue 22-Oct-19 16:47:53

They need to tick the box on ucas re, disability and apply for DSA as part of Student Finance application. This triggers an assessment for practical support such as mentor sessions, extended deadlines, laptop use, software etc.

11hairylegs Tue 22-Oct-19 17:43:37

That is perfect, thank you @xenia and @lizs

OP’s posts: |
MillicentMartha Tue 22-Oct-19 17:57:26

Also, when they come to apply for student finance (normally in March/April) you have to fill in your financial details. It’s very similar to a tax return or a tax credit application. Some income isn’t included, eg child maintenance, some benefits, it’s all explained.

There’s a box you tick to say you are happy for your financial information to be shared with the university. If you tick this your DC will receive any bursaries they are eligible for automatically.

Don’t worry if you aren’t sure which university they will attend, fill it in as if they are getting their firm choice. It can be easily modified after results day if necessary.

BubblesBuddy Wed 23-Oct-19 08:06:55

Did you not visit any universities and go to the finance sessions? Student Finance England has a web site with info.

MarchingFrogs Thu 24-Oct-19 01:28:36

There is also info on the UCAS website:

www.ucas.com/sfe

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ksb76 Thu 24-Oct-19 09:01:08

Do a quick google search for Martin Lewis (moneysaving expert finance journalist) and student finance. He has just produced a brilliant 50 minute youtube video on all aspects of student finance. Helps answer lots of your questions.

Serin Thu 24-Oct-19 09:06:17

Sounds obvious but make sure you open a bank account for your DC ASAP if they haven't already got one.
You could also start to put things together in a file, birth certificate, driving licence, passport, your P60/proof of earnings.

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