View Full Version : Student Finance help
I thought we could do with one of these threads since a lot of us are students or going to be soon and could discuss stuff. And then if those members who arent students can give us tips and the like that would be great
And we can use this thread to discuss loans and acomodation and just money in general!
I know we already have a thread for Univerisity but that thread is very general and in a way is kinda light and has some good and some funny tips :p I think we should keep in that way.
But I have a feeling this thread could get very long on its own
Right well Ive started on the direct gov website and im confused about something
I went on the caluclator thingy and it told me how much I would get in loans and then a maintance grant. My grant would be £93.
So ive set up an account on the wesbite to fill in details and im up to the point where it asks me to say yes or no about whether I am entilted to the Special Support Grant.
I clicked help and it gives a list of why you put be entiled to it but in the list it doesnt mention the bands of household income eventhough it does in the intro bit, well all it says is : "This grant pays up to £2,906, depending on your household income, and is intended to help with additional course related costs such as books, equipment, travel or childcare. The Special Support Grant entitlement is calculated using the same household income figures as the Maintenance Grant. The amount you receive will not affect the amount of Maintenance Loan you may be entitled to receive."
So can I say yes, or do I have to say no, cos on the list im not entiltled to it.
Here is the list it says:
Actaully here is the whole thing lol :lol:
You may be eligible for a Special Support Grant to help with costs such as books, equipment or travel. For the categories of eligible students, please read the help content.
Do you wish to apply for Special Support Grant?
If you are eligible to receive a Special Support Grant you will not be eligible to receive a Maintenance Grant.
This grant pays up to £2,906, depending on your household income, and is intended to help with additional course related costs such as books, equipment, travel or childcare. The Special Support Grant entitlement is calculated using the same household income figures as the Maintenance Grant. The amount you receive will not affect the amount of Maintenance Loan you may be entitled to receive.
You may be able to receive a Special Support Grant if you:
* are a lone parent
* have a partner who is also a student and one or both of you is responsible for a child (or a young person aged under 20 who is in full-time non-advanced education)
* have a disability, and qualify for the disability premium or severe disability premium
* are deaf and qualify for Disabled Students’ Allowances
* have been treated as incapable of work for a continuous period of at least 28 weeks
* are from abroad and are entitled to an Income Support Urgent Cases Payment because you are temporarily without funds for a period of up to six weeks
* are waiting to go back to a course having taken agreed time out from that course due to an illness or caring responsibility that has now ended
* are aged 60 or over.
Im confused!
Any help?
If you don't fulfill any of the criteria on the list then you don't qualify for the special grant, so tick no.
Ok so you know that thing on the finance calculator where you put in the household income from both parents?
When I did it, before I started the account, it came up with the loans I would get and the maintance grant
Is the maintance grant and the special grant 2 different things?
Yes, they are.
Everybody whose parents (or themselves) earn under 60k a year is entitled to a full or partial maintenance grant.
The special grant is only for people who are single parents, people with dependants or disabilities and those over 60. You can't get the special grant and the maintenance grant.
The special grant is slightly more than the maintenance.
Oh phew! thats good, I was getting dead confused, I already ticked no anyway and completed the next page and then logged out cos I need my mum.
I was just getting worried, I know I'll only get £93 but still I want that money sine I dont have to pay it back!
Student finance is deffo confusing - i qualify for that Special support grant thing - the forms are pretty darn confusing! I also qualify for a bursary from my Uni but i think i have to talk to my local council because they have to means test me - or check or something. AhhhhH!
Also not really student finance - but accomadation wise, Nottingham Trent it seems you have to pay £200 deposit for accomadation, but its my 2nd choice and i can't really afford to just give them £200 when i might not even be going there!?!
Yeah we might as wel use this thread for accomdation cos its still money we are talking bout
Thats seems unfair, maybe you dont have it since its your second?
Yeh thats what i thought, i need to look into it - i should apply for accomodation for there really!
What do you mean?
I can apply for mine now, since my mind is pretty much made up
Its soooo expensive though!
Student finance is deffo confusing - i qualify for that Special support grant thing - the forms are pretty darn confusing! I also qualify for a bursary from my Uni but i think i have to talk to my local council because they have to means test me - or check or something. AhhhhH!
Your LEA should automatically do the checks for your bursary when they process your loan entitlement. Once you send your application in, the LEA will do everything related to tuition fees, loan, grants and bursaries.
I got my first bursary in February. When I enrolled in September the university scanned my entitlement letter (the LEA will send you one when they decide how much you'll get). They then use the information to decide how much bursary you get. Each university has a different policy bursaries.
You have to tick the box on the last page of the form to allow the LEA to release your financial details for them to process your bursary.
Also not really student finance - but accomadation wise, Nottingham Trent it seems you have to pay £200 deposit for accomadation, but its my 2nd choice and i can't really afford to just give them £200 when i might not even be going there!?!
Don't send them any money yet. Most universities only guarantee accommodation if you put them down as your firm choice. You should apply for accommodation for your firm choice. If you have to pay a deposit now and don't get in in August then it should be returned.
Halls of residence are a huge rip off. It does depend on where you go but generally it's cheaper to live in private rented housing off campus. I'd recommend halls in the first year to get to know people, have parties and do things that you won't get away with in private housing though.
Think carefully about the accommodation you apply for and the price of it. You don't want to be left with not much money after you've paid rent if you don't get much loan.
If you haven't already, you need to set up a student account. You'll get better rates than on a standard current account and the banks will be more flexible and sympathetic if you get into difficulty. HSBC offer a 0% overdraft for all students, which can be increased in your second and third year. Shop around, don't go for the banks that offer free ipods; they usually have the worst deals.
Chloe O'brien
22-04-2009, 23:35
When I did my HNC/HND I got student loans and Grants 50% each as I am a single parent but I only had to pay back the loans not the grants. We were paid three times an accademic year. The first week of the term, in January and in April after the easter break. You may also be entititled to apply for a travel allowance if you are going to be living more than three miles from the campus but that doesn't get paid until January.
There are also may University related bursaries available. Some, although not all, are income dependant. Some are dependant on the course or a talent you may have for sport or music. Girls Get SET (science ,engineering and technology) buraries for girls doing science.
E.G. At Heriot-Watt University in Edinburgh
http://www.scholarships.hw.ac.uk/undergraduate.jsp
You will see that for differnet catagories of students different awards are available - ranging from £500 to £1500 per academic year.
If you are going to Uni this autumn, check out the websites of the University and search for undergrad scholarships and bursaries
Yes, that's a good idea. I know last year Teesside offered a full scholorship to everyone who gets 3 A levels or eq. at grade B or above.
Question:
Right when I put in what uni and the course it asks me in click on the course for 1st year, 2 and 3
So I click 1?
Yep, you should put in the year that you are applying for funding for. In your case it will be 1. When I get round to doing mine I'll put in 2.
Second year? :eek:
Ok thanks :D
I already did that I was just double checking :p
I cant login though at the moment :(
Why can't you log in?
Do you know the deadline for this year? I really need to get mine done.
just sorted out my finance for next year, it's not as bad when your renewing it but i knew it was a nightmare for year 1, dont know how you're all surviving!
I dont know, it says sever error???
No I have no idea when the deadline is :eek:
There was an email going round saying something about the deadline is tomorrow if information needs to be provided I have no idea what that means
I knew there was somtething i had to do, pants, looks like my loans will be late again.
I really screwed mine up last year as i put the wrong value down
They really are a pain.
the information abbie is if you are being means tested but i think you said above that you didnt qualify, i think the deadline is the 26th.
Oh yeah Im defintaly going for the means tested loans I get like another grand if I do it that way and I'll need it
And yep the deadline is the 26th, I asked at college today
Pinkbanana
26-04-2009, 12:57
Yes, they are.
The special grant is only for people who are single parents, people with dependants or disabilities and those over 60. You can't get the special grant and the maintenance grant.
.
Is the single parent bit means tested these days, or does every one from a single parent family get grant???
Just it seems a bit unfair, as not all single parents are living on welfare! I went to uni with peeps who were from a single parent household and they got full grants despite them being from seriously loaded backgrounds and having gone to private schools ect...!!! Seemed to me the wrong people were getting the money imo, and people with two parents still together on moderate income were being penalised!!!
I think there are parts of it that are unfair, I mean just cos together my parents earn and ok amount doesnt mean they can always gove me money and stuff
I know people who get £30 a week ema and there parents still give them luch money, whereas another person who doesnt get ema doesnt get any money off her parents for lunch
I know they wont know that and its already complicated but at times you do think its unfair
Yes, they are.
The special grant is only for people who are single parents, people with dependants or disabilities and those over 60. You can't get the special grant and the maintenance grant.
.
Is the single parent bit means tested these days, or does every one from a single parent family get grant???
!
I meant single parents as in the mother or father going to uni, not a child from a single parent family.
Everybody is entitled to apply for a grant from the government. They're all means tested so if the applicant or their parents earn over the threshold, they probably won't get anything. Tuition fees, loans and maintenance grant go up in September so it's likely the threshold will too.
Tuition fees for 2009/10 are £3225
di marco
05-05-2009, 16:40
I think there are parts of it that are unfair, I mean just cos together my parents earn and ok amount doesnt mean they can always gove me money and stuff
I know people who get £30 a week ema and there parents still give them luch money, whereas another person who doesnt get ema doesnt get any money off her parents for lunch
I know they wont know that and its already complicated but at times you do think its unfair
i agree, i always thought ema was unfair. i always thought it should take other things into account like how many kids are in the family or something rather than just how much income the household get
well the student finance thing asks how many other kids are dependant on the parents
di marco
05-05-2009, 22:34
well the student finance thing asks how many other kids are dependant on the parents
yeh but i dont think ema does though, or does it i cant really remember?
I dont know, I dont get it but I dont think it does
di marco
06-05-2009, 19:40
I dont know, I dont get it but I dont think it does
yeh i didnt get it either, but i seem to remember 2 of my friends arguing over something to do with ema and the number of children. might have changed anyway by now
Its not strictly finance but Ive done my accomodation application, I think I did it right :)
di marco
28-05-2009, 08:47
Its not strictly finance but Ive done my accomodation application, I think I did it right :)
what type of accomodation have you applied for?
di marco
30-05-2009, 11:07
thats what i had, i think its much better than catered. is it ensuite or shared?
Shared, with 5 other people I think
di marco
01-06-2009, 08:17
oh cool, thats what i had too. wasnt a problem i didnt think apart from when 4 of us all had 9am lectures and no one wanted to get up early!
Aww lol :lol:
well this place doesnt look do bad :p O hope its nice
di marco
03-06-2009, 18:39
Aww lol :lol:
well this place doesnt look do bad :p O hope its nice
have you looked round it? where i lived was nice. it wasnt dirty or really old when we moved in and we had a cleaner once a week. some of the other places on campus were horrible though. hope yours is nice though :)
They are still processing my info :rolleyes: the status says they are waiting for my forms from my parents - but they sent them in like a month ago :rolleyes:
I havent looked roun the one I have applied for, but when I was there I had a good walk around the campus and stuff. We didnt have time for all of them, the only one we could look at was catered
CrazyLea
03-06-2009, 22:45
I haven't sent off my PN1 form yet... is it too late, or could I still get grants and stuff?
You can apply for student loans and grants up to nine months after the start of your course.
CrazyLea
03-06-2009, 22:53
Cool, just there was a deadline which was 22nd May. So I wasn't sure.
That's for assessment to ensure you receive your loan and grant in time for your course starting in September. If you apply after the deadline you will still get the funding but it might not be available in time for your course.
What? I was told the deadline was 26th june, now im worried
CrazyLea
03-06-2009, 22:55
Ah right ok.
You know paying for the course. Do you do that at the start of each year?
CrazyLea
03-06-2009, 22:56
Maybe that was just my college deadline then, I dunno?
There's two deadlines for the PN1 form. One is for non means tested finance and the other is for means tested. I can't remember what the dates are.
If the SLC/LEA are paying your tuition fees, it will be done automatically in two installments in February and May. If you're paying them you can either do it in one lot when you start your course (some universities offer a discount if you do this) or in installments.
Don't worry too much if you've missed the deadline. Your university will provide you with an emergency loan (has to be repaid) if you don't have your loan in time for term starting and it's not likely to be paid for a few weeks.
When I started in September we were told the loans would go in on Monday (started the previous Saturday). Nobody had their loans paid until the Thursday. It didn't stop us having a good time though, people lived on their overdrafts (me) or their parents gave them money to tide them over.
I wouldnt worry if you miss the deadline, it usually means it will be late, but sometimes you can be lucky and it will arrive on time. It did for me and my friend who is down in London did hers on time and hers came late, so i think alot depends on the council as well. I tend to go and hand mine in as well in the offices instead of posting it, maybe that has something to do with it but i dont know
Just make sure you double check everything as you dont want t o make a mistake, i ended up applying fo £0 last year by mistake, so ended up wioth no money and it took ages to sort out. But as long as you get everything in before you start in September, it should be fine.
squillyfer
05-06-2009, 17:16
I am so fed up with the whole student finance process, I sent all my parents evidence away nearly 8 weeks ago, yesterday my dads evidence came back but they've only checked off the p60 and not the child tax thing on his account and my mums evidence is nowhere to be seen :(
Student finance england are a faff. Call up your local LEA/SLC office and talk to them. Ask the person for their name and extension number then whenever you have a problem you can talk to the same person. Type your postcode in here (http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680094&_dad=portal&_schema=PORTAL) to find your LEA.
I have a contact at Beverley who rings to make sure I send all the information he needs, if I need any help etc. I get DSA so he rang this morning to tell me to use my allowances before the end of July. That would be good if I had enough money to buy books and ink (which I actually do need) before getting reimbursed :p
If I have any problems with my finance, I ring him up and he sorts it out straight away.
Dont suppose anyone knows if its possible to have 2 bank acounts with the same bank? :p
My dad has at least two with HSBC, so it definitely is with some banks / in certain circumstances.
good cos my under19 account with loyds will get upgraded to a student one unless I tell them otherwise and the student one sounds really good :) BUT I want to keep my personal money separate from my loans and im already with lloyds so I wouldnt mind staying with them
Dont suppose anyone knows if its possible to have 2 bank acounts with the same bank? :p
Yes, you can. I have three with the Nationwide, one with HSBC and two current accounts at another bank.
You're best off having a separate student account for your student loan. You usually get a better rate of interest and an interest free overdraft than on a current account.
Look at other banks to see what they offer on their student account. I'm with HSBC and got a far better deal than with the Halifax, where I have my current accounts. It doesn't always pay to stay with one bank.
di marco
08-06-2009, 21:27
yeh you can have more than one account with the same bank, and its definitely a good idea to have another account as well as your student account
:lol: my mum called the lloyds helpline and asked for me, even though im going to pop along to the bank tomorrow and sort it out
I want to stick with lloyds cos there offer it quite good, they offer a tiered interest free £1500 planned overdraft, and Ive looked at all the others and the other stuff its pretty much the same but a £1000 overdraft
I have my current account well under 19 account with them and its going to get upgraded to a student account unless I tell them not to, but Im going to say to them I want to keep my current account as it is and open up a sparate student account with them
StarsOfCCTV
30-06-2009, 09:54
I get the maximum loans/grants. Yay. :D
When do we get the loans in our banks? Don't worry I'm not going to be spending like mad. :lol:
Good news about getting maximum loans/grants and that you promise to be sensible :D
I get the maximum loans/grants. Yay. :D
When do we get the loans in our banks? Don't worry I'm not going to be spending like mad. :lol:
Im still waiting to hear about mine :S
Ok so today I set up my student account with Natwest now I just need to get in touch with loyds
di marco
14-07-2009, 17:57
my student accounts with natwest. are they still giving out the free railcards?
Yep :D I asked them about that first before setting it up :D
di marco
14-07-2009, 18:00
Yep :D I asked them about that first before setting it up :D
lol! ive already got mine through for next year even though my old one hasnt run out yet!
thats well good :D
I need to ring loyds though to stop my current account from being 'upgraded'
di marco
14-07-2009, 18:12
yeh theyre good at sending replacements really quickly. but i waited almost a year for my first one cos they were so useless
Chloe O'brien
14-07-2009, 21:58
Up here the loans are paid in quarterly. The first payment is paid the first week of term, second payment begining of January and the third payment after the easter break. Just be careful when you get the first payment it may seem to be a lot but it has to last you until after Christmas.
Yeah thats what I keep thinking, I really want to get a job
Don't be too keen to get a job. Employers often ask students to work the hours other people don't want to e.g. nights, early morning, weekends etc. Plus you may have to work over the Christmas and Easter breaks rather than having a month off at Christmas and two weeks at Easter.
I don't know anyone who has worked during term time. Most people live off their overdrafts (or loans if they're careful enough) then get a job during the summer and pay it off. Not ideal but that's the way it is for a lot of students.
di marco
16-07-2009, 16:49
i agree. i know a few people who have jobs but they always seem to be working when they dont have lectures and have had to miss extra things that are going on, and its annoying if you have to do group stuff and someone can never meet up cos they always seem to be working. most people i know dont have jobs, and like me seem to be fine, you just end up having to be really careful by the end of term or barely eating lol!
Swine Flu might be helpful for students then; if they lose their appetite they won't need to find as much money to buy food with :lol: I guess it will get round unis a lot faster than schools as they're a lot bigger.
di marco
31-07-2009, 07:46
Swine Flu might be helpful for students then; if they lose their appetite they won't need to find as much money to buy food with :lol: I guess it will get round unis a lot faster than schools as they're a lot bigger.
lol! there was already a few cases at my uni before we left. i wouldnt mind uni closing as long as i dont get it!
StarsOfCCTV
31-07-2009, 13:31
I've been refused a credit card by Natwest. :lol:
StarsOfCCTV
31-07-2009, 14:27
My mum said it would be good for paying for big stuff like holidays online. I usually just use my debit card for buying stuff. It said our annual income wasn't enough.
As long as I get my railcard I don't mind. :p
I've been refused a credit card by Natwest. :lol:
The HSBC keep trying to give me one with my student account, even though I've been overdrawn since a few weeks after my first loan instalment last September, I have no job and I refused to give them a name of a guarantor.
There's no wonder its so easy to get into debt these days.
di marco
01-08-2009, 08:29
natwest keep trying to give me a credit card too. every time i go in there they go on at me about it! its so annoying, i dont want one as i dont have the money to pay for one! surely offering credit cards to students is just asking for trouble?! :rolleyes:
So far they have been good to be, I said no and all she said was ok but its here if you want it
di marco
02-08-2009, 07:23
but im guessing youve not really used your account yet. mine was alright for a year cos i didnt really go in the bank but now everytime i go in there they ask me
On results day I also got my letter from the student loans telling me how much I get.
I just want to make somehting clear though, apart from the tutiton fee loan, the other loan and small grant, thats split over 3 dates across the year, thanks goes into my bank account and then I will pay for the accomodation
Cos my friend rekons she gets nothing cos her loan goes straight to the uni to pay for the accomodation and Im thinking no thats not right
StarsOfCCTV
23-08-2009, 12:11
I think that is just tuition fees that goes straight to the uni..
On results day I also got my letter from the student loans telling me how much I get.
I just want to make somehting clear though, apart from the tutiton fee loan, the other loan and small grant, thats split over 3 dates across the year, thanks goes into my bank account and then I will pay for the accomodation
Cos my friend rekons she gets nothing cos her loan goes straight to the uni to pay for the accomodation and Im thinking no thats not right
Your maintenance loan and government grant (if you're entitled to it) go direct to the bank account you put down on the application form.
The tuition fee loan will be paid direct to the university from the loans company, the dates it will be paid should be on the last page of the loan schedule.
Your friend must have got her wires crossed because there's no way the loans company would pay her maintenance loan to the university. The loans company don't know how much she is paying for her accommodation or even if she's living in university accommodation so how could they pay it?
Exactly! thats what I keep telling her
I think shes got it wrong
They got the wrong account on my letter but I went online and changed it, is that ok?
Yes, you should get a letter in the next week confirming that you've changed your bank details online.
Ok good, cos I did ring up in July saying I want to change the account but then I got the letter and it had my old one on it
I did it on the direct gov website though, is that ok?
Yes, I think that's the only way you can do it online. If you haven't received confirmation in the next week, ring them up and make sure they have the right details.
I think there might be postal strikes up and down the country so the letter might take longer.
Oh great lol!
Thank you by the way
What happened to the good old days where education was free for all
GossipGirl
30-08-2009, 14:47
When was that?
20 or less years ago for grants
not so long ago when there weren't any tuition fees
What happened to the good old days where education was free for all
I remember talking to my teachers and asking how much they paid for their courses. 1k for the whole three years was the typical response :eek: It's only 10-20 years ago that they went.
I think the accomodation is way too expensive as well
GossipGirl
31-08-2009, 11:59
What happened to the good old days where education was free for all
I remember talking to my teachers and asking how much they paid for their courses. 1k for the whole three years was the typical response :eek: It's only 10-20 years ago that they went.
Why and when did it change?
When I was at Uni there were no fees, and even people whose parents had a good income got a minimum grant. At that time (early to mid 1980s) I received the minimum of £410 per year grant, plus travel expenses.
By the time my brother was a student (late 80s early 90s) the minimum grant was abolished, but tuition fees were still free.
In Scotland all Scottish (and other EU students outwith the UK) currently get their tuition fees paid by the Scottish Government for a first undergrad degree.
For English students the u/g fees tend to be much cheaper in Scotland than in England. E.g. you would pay around £1820 p.a. instead of £3250 p.a.
The charging of fees came in after the huge explosion in numbers attending HEI. In my day only 10% of school pupils went on to University (and that in itself was double the 5% that was normal in the 1960s)
Now the governments seems to think that 50% of people need to go to University, and they cannot afford to pay for it - hence the fees and lack of financial support for students.
GossipGirl
31-08-2009, 12:50
Thanks for that I think the uni fees are just way too high the English Government need to do something about the fees as not everyone is entitled to a grant!
Thanks for that I think the uni fees are just way too high the English Government need to do something about the fees as not everyone is entitled to a grant!
Don't forget that the fees in England and Wales are already subsidised, hence why we pay 3250 and international students pay >7000.
I don't agree with charging people to go to university but the government can't afford to fund the hundreds of HE institutions in England themselves. I'd much rather go to a university that I have to pay for, which I know has good facilities that were paid for through tuition fees.
Something has to give, we can't have everything we want in life for free. Education up to the age of 18 is free. There are other parts of the public sector that need funding more than universities such as the NHS, Police, armed forces.
GossipGirl
31-08-2009, 21:35
Nhs does need funding but when will this ever happen?
The NHS is funded by the government via our taxes - the same way compulsory education is paid.
GossipGirl
31-08-2009, 21:46
I don't think it is enough, I even think the nurses and staff should be paid more.
Uni fees are a little pricey partly why I will be taking the next year off to save to pay for my fees.
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