student finance - what happens in this case?

[Spookymcspook]

It's not really my business, but we've recently done the student finance application for dd, and I am curious 😂

A good friend of mine is from a very wealthy family. She and her husband don't work and live off their savings/investments. They have twins who will be coming up to uni age in a couple of years.

Obviously they might decide to go ahead and pay all tuition fees and maintenance costs themselves. But say they didn't, and applied for loans anyway. What happens when you have to declare household income?

If I'm right you have to declare your annual salary on the form - which in my friends' case is zero?! Surely it can't be right that this could potentially put a struggling family on a 30k salary in the same bracket as someone with hundreds of thousands in the bank?

Thanks for the information on ISAs.

that should read non ISA savings

It goes on your Tax return.
We knew that DD would only get the minimum based on our Tax return the year before so we deeclined to give information and she got it automatically

@Comefromaway thanks for clarifying - worried me a bit as I only declared estimated taxable interest on savings.