Income for maintenance loan

[mondaytosunday]

Quick question as just done my taxes for 22-23. I know the maintenance loan is calculated on taxed income but does the personal allowance count? So say income amount is 40,000, is that figure used or is it 40,000 minus the personal allowance (approx £12k) so £28k? I've googled it and no mention of personal allowance just always says 'taxable household income', which would be the lower figure as that's what you pay tax on. Wishful thinking?

No it’s just based on the gross figure

@Milliemoos5 how disappointing.

I hear you! My sons maintenance loan only covers about 60% of his rent for the year so i have to cover the rest, plus his food, it’s financially draining tbh

I have three at uni!! Santa’s not coming this year!!

It's nothing new being means-tested and having to support your YP at university. With the number of people now attending university, the country can't afford to give them all full support. What needs to change is that parents should be made aware much earlier what their likely financial input will be. It's a lot of money to find if your YP is on the minimum loan.

Don’t forget to take off any pension contributions/declare them, that reduces your income a bit.

Haha very wishful thinking but no; sorry!