Student loan??

[autienotnaughti]

We have a joint income of 65k, my friend has a income of 150k. We both went on student loan to get an idea of maintenance loan and it's the same amount. (4600) Is that correct?

Yes , read up on Martin Lewis's money saving website for more details.

Yes, the cut off for anything more than minimum loan is stupidly low.

Yes, that's the minimum amount, due to you both breaching the income thresholds for any higher grant which are for much lower earners.

I thought it was about £58k which is twice average earnings, so hardly "stupidly low".

It really is. Not the income itself, I know it's a good salary, but the way it impacts the funding. They haven't moved the thresholds for years and a lot of families can't afford to top up or save. Especially at the moment.

@Kazzyhoward that's joint income so £24k each. Not that much above minimum wage really.

Yep. We earn just over the threshold and DD will receive £4000 something that will / may cover her accommodation.

It just seems ridiculous my friend earns 85k more than me but her child gets the same loan

£29k each actually. I agree it's not very high tho. University away from home (especially some unis with no cheap accomm options, looking at you Nottingham) rapidly becoming the preserve of the well-off - who can easily find £6k a year - a lot less than private school fees after all. It's ridiculous that is has stayed the same for so long.

Scotland has smaller grants and it is 10k is Edinburgh and St. Andrews for student accommodation with food.