Student loan shortfall

[Lepetitpiggy]

DS has just had confirmation of his loan for his first year starting September. I am really worried as they have taken the tax year 2016/17 as our income when I was earning a fair bit more than I am this year - I was made redundant and have another job which is nowhere near as well paid. Obviously we are aware he will have to somehow find part time work but there is no way what he's getting will cover even his rent. I cant fnd anywhere on the website about drop in income. Anyone have any idea???

You can ask for the calculation to be based on current year income if it is at least 15% lower. That is what I did and it worked out well. The information was on the website unless it has been changed.

If you go onto Student Finance website you can download CYI form to be assessed on your current year income 18/19. Post it to them and they'll increase your son's loan. At the end of this tax year they'll ask for the evidence to confirm your CYI was correct. Hope that makes sense. It's what we did last year.

Thanks both. I was struggling to find it - will have another look :)

Though it is actually very, very normal that the loan doesn't cover the rent.

Oh yes, I have figured that! He will be getting a job :D

Don't forget as well that universities often have their own bursary schemes.

At my son's uni, everyone that receives the maximum loan also gets a pre-paid debit card that the uni tops up every month by £70.