Hi, my name is Rachael20242024! I don't understand the whole breakdown of income based student loans

Rachael20242024
Rachael20242024 Community member Posts: 1 Listener
edited September 20 in Education and skills

Hello, I'm looking for some advice. I don't understand the whole breakdown of income based student loans and grants.

I've applied for Uni, been accepted for the course and I had to apply for the Tution and student finance. I tried to ask UC before applying but they said they can't advise until they know the income from student finance wales I feel like I've been trapped now an my UC and PiP will be affected. With that I won't be able to afford rent and living costs plus any content I need for my studies.

My course is from September 24 to April 25 I get paid in 3 installments

My tution is £7,500

Maintenance Loan is £4,000.00

Grant is £8,100.00

Could someone advise me on how it's calculated and taken

Comments

  • Albus_Scope
    Albus_Scope Posts: 8,262 Scope Online Community Coordinator

    Hi there @Rachael20242024 and welcome to the community. 😊

    I'm afraid I dont know the ins and outs of how they calculate this, but I've moved your discussion to the education category and renamed the discussion, so hopefully more people in the know will be able to see and offer some top advice. I hope that's ok?

  • poppy123456
    poppy123456 Community member Posts: 61,768 Championing

    PIP will not be affected. Have you been through the work capability assessment for UC and been found to have either LCW or LCWRA?

    If so then your UC will continue but there will be a deduction for the maintenance loan. How much is deducted per month will depend on how many months the course is for. There's also a £110/month disregard, after that it's deducted £1 for £1.

    If the maintenance loan includes a Disabled Student Allowance (DSA) this will be ignored.

    There's a good guide here with lots of information including examples of how the deductions are calculated.

    https://www.uwe.ac.uk/courses/funding/full-time-undergraduate-funding/student-income-and-universal-credit

  • forgoodnesssake
    forgoodnesssake Community member Posts: 506 Empowering

    Just a comment on DSA…it would not be included in the loan as none of it comes as "money" to the student, it pays directly for some sorts of disability related support. However if you have any Special Support Element of the maintenance loan, that is not counted by DWP; but it is a bit chicken and egg as you can only get SSE if you get the qualifying benefits..and then as above, they count your maintenance loan as income, (even if you don't claim it but are eligible!)

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