Can students take part but not all of the student maintenance loan?

[Guiri]

I'm probably being dense, but I've searched endlessly and can't figure this out. One of dd's gps wants to contribute, meaning she wouldn't necessarily need the full maintenance loan (from Wales so no parental contribution - finance is a mix of grant and loan split dependent on household income).

Is it possible to apply for the loan but not take all of it? Or I suppose repay some of it immediately after it's given?

Hey, when I applied for student finance last year I had the option to apply for all of part of the maintenance loan. :)

Thanks :) I figured it should be possible! Was that in Wales or England btw?

You can certainly take it one year and not another , so maybe they could fund one year?

I don't think that works for them unfortunately, otherwise it'd be great to fund all the first year so minimise interest while studying. Hopefully it'll be easy enough for her to figure out once she starts the application process.

You may as well take the full loan.
keep the grandparents money in a bank account/ they could invest in premium bonds. Then use in future years as a deposit on a house or to buy a car with it, for example.
Student loan repayments are based on their income once they graduate, so may only ever be partly repaid. It is not a set repayment amount on amount borrowed.
hope this helps.

In England you can just take the minimum loan (assuming you are entitled to more than that) but the system is different in Wales, I don't know how it works there.

It would be better for her to still take the maximum maintenance loan because it only needs to be paid back once the student is earning over a certain amount having graduated. You need to check the figures ( see Martin Lewis money saving expert) Depending on their income they could be paying a very small amount off each month. The grandparents money could be used as a buffer for monthly expenses or saved for something else. It’s a good position to be in