Refused a bursary, advise needed

[Akiko]

My Dd has been refused a means-tested bursary and offered a full paying place.They praise her academic achievement, but have not given me any explanation on the refusal. I think I fit the cryteria:Single mother, my business is at a loss and although I own a few rental properties, at the current economic climate, they are not worth much.Should I appeal?

How can you appeal (sorry may well be beign v thick) - if they have means tested you and you've got too much income then thats that surely?

And owning rental properties would be way too much income I would have thought.

being

Owning rental properties would put you above the criteria. The economic climate doesn't matter - on paper they are worth something.

Has she always had a bursary ? it seems a bit odd to offer a bursary and then take it away.

You could appeal, but to be honest I think there are a lot of parents at my school who fit your criteria and I dont think you stand out as a particular needy case.

I doubt they will have any appeals process. They are probably very stretched giving bursaries to children already at the school, who would be disrupted by having to leave, so your DD will perhaps not be as high up their list of "need". Additionally, if you have rental properties, you could in theory sell them to cover the school fees, which may affect their decision.

I'd guess your "assets" including those houses would put you over the threshold. they may not be worth much and not liquid but are potential sources of income and equity. Most people will be affected negatively by the current economic conditions.

Bursaries are discretionary anyway so your chances of appealing successfully would be pretty small and they don't have to explain. If she is so academic then is she not eligible for a scholarship or award ?

Generally you would be expected to make the most of your own capital firsti.e. if you have property which you don't need to live in you would be expected to realise that to pay the school fees .I would call and ask for a discussion with the bursar,also the criteria should be transparent so they should be able to tell you why you were not awarded a bursary.I know at our school the pot is always oversubscribed and it is a 7 year commitment for the school.soit might just be that others need was greater

Agree with the posters below re the property - even regarding your home, if you have too much equity they expect you to re-mortgage - tehyw ill scrutinise you income and capital minutely. I have a friend in this position now - there is no 'appeal' - they make their own rules. My friend has been told that burasries are thinner this year because the priority is children already @ the school whose parents have been made redundant etc. They also found out about a parent who had received a bequest from a will, (that family didn't tell them - other parents did and snitched!) and the child was obliged to leave because the parents had not made full disclosure, whcih is part of the conditions. Also academically the children have to 're-earn' the award every year, which is a lot of pressure. A friends son has been 2 years @ a leading independent in Wimbledon and is struggling to keep up with the scholarship class, but is very aware that his parents could not afford full fees, so he had better damn well achive Not a position I would want my dc to be in - scholarship/bursary is NOT a free lunch... would consider very carefully if it is worth the hassle.

Thats interesting MrsGuy - I take it if it was a scholarship class then it was a prep and not a secondary - because they're very thin on the ground anyway arent they - bursaries at preps I mean.

This whole thread is making me a bit - not the posters but the OP the more I think about it. Bursaries are supposed to be for people on limited income, not for people with cashflow problems grr.

Thank you all for your views on this. I understand what you mean, giantkatestacks, but renting is my line of business, it is my livelihood, I would be more than happy if I was able to remortgage, bank refused as I might soon be in negative equity with the predictions of further 50% fall in property prices.....

Have you asked for an explanation? Do they understand that you have been refused a remortgage?

If you have capital in your properties then most schools would expect you to remortgage to cover school fees unless you show them that you are unable to.

If you have 50% equity in your properties then that is quite a large amount of capital. They would take a snapshot of your assets when they assess not consider future drop in value.

Can you reapply next year?

I wish I had 50% equity, it's more like 10%, and if I remortgage, I would be unable to pay the premiums. I have aleady taken lodgers in order to keep up with repayments.
It is a very good idea to show them that I have been refused a remortgage, because of my low income at present.