Parental income increasing; should I inform student finance? - The ...

Discussion and questions about student financial support arrangements - from government loans and grants to university bursaries. Please use the main Money & Finance forum for more general financial topics.

1. Junior Member Thread Starter Join Date: Feb 2012 Posts: 34

   Parental income increasing; should I inform student finance? So, I've already organised all my student finance and got the confirmation through and everything, but just last week my mum got a new job with more money. Do I need to inform student finance, or do they base it on last year's tax income? I've had conflicting advice from people, some saying they base it only on last year's income, and other people saying I need to inform them of the increase. What have you heard about it?

2. Exalted Member Join Date: Feb 2012 Posts: 334

   Re: Parental income increasing; should I inform student finance? So, I've already organised all my student finance and got the confirmation through and everything, but just last week my mum got a new job with more money. Do I need to inform student finance, or do they base it on last year's tax income? I've had conflicting advice from people, some saying they base it only on last year's income, and other people saying I need to inform them of the increase. What have you heard about it? http://www.direct.gov.uk/en/Educatio...rted/DG_171586 Although do they base it on last years tax I think you still have to change it. Just ring them up just to be safe.

3. Exalted Member Join Date: Nov 2011 Location: Essex Posts: 377 Warning points: 2

   Re: Parental income increasing; should I inform student finance? They base it on the previous year so i don't think you'll need to tell them. because what if your mum loses her job [touch wood she doesnt] and your yearly income isn't as high this year as you were expecting... you would then need to contact student finance again and say i have a different household income currently can i have a higher loan. But you should probably query it with them first I have a similar question to anyone else answering this: i'm living with my mum now and my student finance is based on our income this year. but once i've moved from this home to start university i'm not allowed to return. I'm being kicked out. So will next years finance be based on me living with her or me living alone? as i will no longer have a 'home' to go to and no household income?

4. Exalted Member Join Date: Nov 2011 Location: Essex Posts: 377 Warning points: 2

   Re: Parental income increasing; should I inform student finance? Ok good! Even though the previous year they are going on is one when i was living with my mum?

5. Exalted Member Join Date: Feb 2012 Posts: 334

   Re: Parental income increasing; should I inform student finance? I have a similar question to anyone else answering this: i'm living with my mum now and my student finance is based on our income this year. but once i've moved from this home to start university i'm not allowed to return. I'm being kicked out. So will next years finance be based on me living with her or me living alone? as i will no longer have a 'home' to go to and no household income? It will be based on you living alone, since your being kicked out they'll be no-one 'funding/helping' you as well as someone with an income. I'd still recommend ringing student finance just to be safe. Where will you be staying then if you don't mine me asking?

6. Exalted Member Join Date: Nov 2011 Location: Essex Posts: 377 Warning points: 2

   Re: Parental income increasing; should I inform student finance? It will be based on you living alone, since your being kicked out they'll be no-one 'funding/helping' you as well as someone with an income. I'd still recommend ringing student finance just to be safe. Where will you be staying then if you don't mine me asking? Yeahh ok thanks Uhm in the term breaks i'll be with my boyfriend, over christmas i'm not entirely sure haha... and i'm going to be ****ed in the summer. I really don't know tbh :l

Source: http://www.thestudentroom.co.uk/showthread.php?t=2110662

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