Thread: Student loan UK

  1. #1

    Student loan UK

    Hello,

    I got confirmation that i would be getting a 7400 loan for university in september, this showed online on my application and i also got a letter confirming this amount.

    Today i logged on again and it now says i am getting 6500

    Basically when i applied my mother did not have a Job which helped to me getting a loan, she now has a job which is why they said they have changed it, are they allowed to do this even though i previously received a letter saying i am getting 7400 ?

    I feel like i have been screwed over a little as i knew what i was getting months ago and i have not saved up as much as i would of done if i knew i was going to get less

  2. #2
    I don't think this should happen, as they pay you an amount equal to your parent's annual income the prior year. They shouldn't be retroactively changing this until the following year, when they take into account this year's annual income.

    I don't know if the policies have changed though, so you might want to take a read of whatever their new policies are, or phone them directly.

  3. #3
    Titan Mall Security's Avatar
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    Yeah, when you applied it was perceived that you would be in greater need when your mom didn't have a job. I am not a fan of this formula but we have in the U.S also, because despite the fact your parents might not feel any obligation towards helping you pay through college really isn't considered the way maybe it should.

    However the only thing that is important is whether or not you have a loan for what you need versus what you want.
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  4. #4
    Brewmaster
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    Yes UK student loans can change value quarter by quarter due to very minor changes in personal circumstance.

    The only real recommendation is to not assume you'll get what you're quoted, because if anything changes even the slightest it can skew it massively.
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  5. #5
    They shouldn't be taking your parents earnings into account anyway, you're a bloody adult now. If they don't want to loan to young students then they should make the deal with the parents. Total BS.
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  6. #6
    Brewmaster
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    Quote Originally Posted by AeneasBK View Post
    They shouldn't be taking your parents earnings into account anyway, you're a bloody adult now. If they don't want to loan to young students then they should make the deal with the parents. Total BS.
    Unfortunately parental earnings are a key part of the formula for UK student loans. Imo it should be scrapped but our loans system is still pretty antiquated, about the only major change we've had for a long time was the con/lib government in 2010-15 reducing the burden of paying it back.

    Right now the whole thing needs redeveloping from the ground up.
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