Masters/no money/uc!

[PinkLadyLove]

I was unsure whether to post in money matters or higher education.

Basically, started my masters in Sept, right as contract role finished. I planned for this but saving a little bit and for a month of uc catch up, however I am still looking for contract work that can slot in with uni.

Just had my uc payment and they've taken a whopping £800 out of £2k because I have a student loan. Now bare in mind masters slc loan is tuition only so the same day the loan was deposited, it was paid to the uni. I have very little savings and the rent is £1450.

So I'm guessing I'll be eating into my savings at about £700 a month instead of the realistic £200 I'd planned for so will last about 3 months before I have nothing left.

Has anyone been through this? It can't seriously be £800 a month they're going to be deducting? I'm hoping it's a one off deductions. I am a lone parent also, so the juggle has and always will be childcare. I've asked my job coach and they're giving the most vague answers. Also, can't take out an advance for some reason they won't disclose.

Has anyone been through this?

If the loan is explicitly and exclusively for tuition fees UC should disregard it. See the government's own guidance here.

Don't ask the Job Coach. Put a message on you journal explaining that your loan is only for tuition fees and ask them to apply the rules and disregard it.

im not understanding your question or maths at all.

could you explain better what number is what?

what the £200 realistic amount is for?
what the £700 eating into your saving is about?
full time or part time?
you masters student or not?
what’s your circumstances?
how much saving you got?
What’s your monthly expenses?
How you getting UC if your take home is £2K?
sfudent loan repayment % each month. Mine is currently 9% each month of gross income with no interest.

Her post is clear, you seem not to have read properly. Obviously she’s a masters student, the second line of her post says so

OP this should be disregarded if it’s tuition only

@StrathBxx I think her monthly Max UC - the money the law says you need to live on - is £2000. Given the rent mentioned that's in the right ballpark.

If they've made a mistake and deducted it on the basis they would for a maintenance loan £800 could be about right.

£200 was my realistic number that I'd use from my savings monthly to sustain my child and I ontop of my £2k universal credit monthly payment. My rent is £1450. Because they've reduced my payment by £800, It will not even cover rent let alone monthly bills and travel. Thus, my savings will be reduced by at least £700 a month which will last maybe 3 months at most.

Also, £2k a month is nothing in London. As stated rent alone is £1450, council tax was £150 pcm when working full time with single person discount.

I had this with mine. There was no other way round it as I couldn’t claim the student loan and UC. Hideous experience and I ended up stopping the masters for a couple of years and coming back to it.

Your Uni might have a bursary to help, contact the financial office.

Masters student loans are just loans which you can use as you wish.

They may be more than the total tuition due if you go somewhere cheap.

It's not split like undergraduate loans.

Gosh, that's what it seems like I'm going to have to do because this is ludicrous. I'm really trying to find something to fill the days I don't have lectures and I've applied for a hardship fund. Luckily as Christmas is coming hoping to find some temp work. Really don't want to have to stop my masters as if I get through this year my earnings will be high enough I could leave UC in the dust and put the system behind us.

I may give this a go. I've been back and forth on the Journal all day asking for clarification on whether this is a one off deduction or something I can expect to happen every month, and the answers have been so vague. In the end we've both become very short with one another lol. It's incredibly stressful.

Here's the link to the government guidance https://www.gov.uk/guidance/universal-credit-and-students

Basically, work out how many assessment periods cover the period you will be studying for. Divide your total loan over the year by the number of assessment periods. Then calculate 30 percent of that. Then deduct £110 per assessment period. That gives you the monthly deduction for your student income.

It's pretty common for them to make mistakes when working out student income deductions from universal credit, so do check if they're deducting the right amount.

So eg if your student loan is £10000 and your course is across 10 assessment periods.

10000/10 = 1000
1000 ×30%= 300
300-110=190

£190 per month deduction from your UC

Unfortunately it isn't an option to say that your masters loan is just for tuition fees and can they please not take any deductions

If the loan is explicitly and exclusively for tuition fees UC should disregard it. See the government's own guidance here.

I think one of the issues is that it isn't necessarily just for tuition fees so you can apply for the max of £12,471 and if there's any left over after you've paid your fees you keep it to do what you want with. I don't think Student Finance even check you're still on your course, but I know the university have to tell them when you interrupt or finish.

I would contact your university, OP, to see what they can offer regarding alternative payment plans. And I know some have hardship funds.

I've just written a message on my journal for the millionth time today using the maths.
I'm sure the work coach reading the message will be thrilled.

Hopefully my maths is correct and they've reduced my payment by £600 by mistake which would be a huge load off my mind.

Many thanks for your help everyone, really appreciate it! I'll post an update when they respond.

I looked for these types of answers before I studied and the information is just so hit and miss so hopefully this will provide some insight to anyone else hoping to study masters in the future Xx

www.gov.uk/guidance/universal-credit-and-students

With masters loans it assumes for uc that you took the maximum you could have and treats that as income.

Update: woken up this morning and logged in to my account. The calculation was correct and they'd made a mistake! So now the deduction will be less than £200 pcm instead of £800 which is a massive pressure off. My next payment is due in a month so will be interesting to see how it actually is worked out and will post another update then, but until then, result!

Thank you all for your help! Absolute angels! Xz