Hi there - I'm having serious sleepless nights with this and would appreciate any help!
My daughter has been lucky enough to get a place at a London performing arts school to do a 3 year diploma. She's been awarded a DaDa which is amazing. However, this only covers most of the tuition fees.
Our income is just over 30k and at that level we have to pay £1,275 of the fees (which we can manage) but all her maintenance. She's going to have to live up there in London as we are nearly 70 miles away and commuting would cost as much as accommodation. Accommodation is £600 per month (our mortgage all over again) plus we have to find her food costs, costs of equipment etc.
If it was uni she would be eligible for over £7000+ loan for this on our income, but students in receipt of a DaDa cannot get student finance loans. Professional development loans have to be for 2 year courses or less and advanced learning loans are for age 24+.
We've already had to act as guarantor for her fees and now we are going to have to do the same for accomodation. I have no idea how we can manage this on top of our own mortgage and I'm in a major panic. I've tried looking for trust funds etc and cannot find anything relevant. I have a younger daughter about to go into 6th form who also has dance and music lessons and I don't want to sacrifice all her chances for DD1. On the other hand, we know lots of people who applied to such schools and DD1 was the only one offered a place so we know it's an opportunity we can't turn down.
It seems so unfair that she isn't eligible for the student loan. If anyone knows anything about this I'd be so grateful for advice.