Bursary assessment becoming a nightmare!

[Motherduck9]

I have sent off the million page form. Had the interview on 17th December. She asked me for a few extra bits which I have sent within 2 hours of the meeting. She then messaged me yesterday asking for something else. It’s the statement with my recent mortgage transactions to calculate the interest I pay each month. My new mortgage started in November. She already has the mortgage confirmation with the loan amount, monthly amount, interest rate, term etc. I don’t have this and can only get it from my bank. I called them today and they said they can send it today but it maybe on Tuesday as they are busy with emergencies before the bank holidays! She is now saying she may not be able to process the application as the deadline is today?? I have done every single thing she has asked for quickly but she told me she only works this job on the evenings and weekend so only ever messages me for things in the evenings!! She said she will do her best to try and get it kept open until 2nd Jan but she can’t now guarantee. My child’s education depends on this and I feel really upset that it’s come down to one document that she could have asked me for weeks ago and given me time to get it! Has anyone had any similar problems? I don’t want to make a fuss as they aren’t really the people I should be pissing off just incase but I don’t want my application to be affected when it hasn’t been my fault!

Who is it you're dealing with? if it's an admin assistant then I'd be tempted to email the bursar explaining.

Your mortgage offer should have the interest payable each month. Otherwise if you know the rate, amount and term an online mortgage calculator will tell you your monthly interest payments.

Sounds awful- is that the school or the bursary company?

Sorry this is tricky.

I'm honestly curious. You have your own home (mortgage) and are eligible for a bursary? I thought bursaries are only for people who aren't well off with no assets?

Is there not an app? I thought they all have that now but the mortgage offer should have it laid out.

Schools set the eligibility limits for bursaries, as well as the value of them.

There's at least one music school where those with a six figure income can still get a small reduction in fees.

At most(?) schools, you need to be earning well under average to qualify for the full bursary, which can be up to 115% of fees (covering uniform, transport, trips etc).

No this is not true. It's an assumption that becomes truth by rumour

It’s how much equity is in your house (and your monthly payments) that’s relevant, not the fact that you have a mortgage per se.

No, your assumption is incorrect.

Bursars don’t expect children to be homeless - having a secure home is rather necessary to educational wellbeing, whether owned or rented. What they look for is evidence of assets in excess of need, which could be utilised to pay fees instead.

The OP is only in the process of applying, anyway. It may be that her assets are judged to be sufficient for her to pay all or some of the fees. Or it may not.

Sorry it’s proving so stressful, @Motherduck9.

(At the schools I know well the word ‘modest’ used to be prominent in bursary application forms: modest home, modest car, modest holidays … Not ‘no home’, ‘no car’, ‘no holidays’.)

thanks for clarifying, I appreciate it! I'm surprised. So families are being funded while they're building a (modest) asset.

They are not building a modest asset they are just living in their home.

sure!

they are just living in their home.

Yes. And probably spending less on their mortgage than they might have to on rent. So a sensible, not extravagant use of income.

But you’re correct, @UserNMCHNG, that bursaries are absolutely not meant to support lifestyle choices like a bigger house, or only one of two parents working if there are no dependents who need full time care. (And all this becomes apparent during the home visit anyway!)