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If you go by what some people say in the media, you have to be filthy rich, bathe in champagne and have a butler named Manfred to go to university. It simply isn’t true! There is a staggering amount of support for those of us who aren’t rolling in cash.
Aside from student loans to help with tuition fees and living costs, some students will be eligible for non-repayable Maintenance Grants, which are funded by the government. So if your household income is below £42,600, you could be receiving a nice little surprise in your bank account.
By household income, we mean that of your parents’, or, if you don’t live with your parents, your salary and your partner’s salary (if applicable) combined. You need to work out what band your household income comes under, and from there you can figure out how much you are entitled to receive.
For example, if your household income falls in the £40,001 to £42,600 bracket, you’ll receive a paltry £50; if it’s between £30,001 and £35,000, you’ll get a healthier £1,432; whilst those with a household income of £25,000 or less will get a sweet £3,250 a year. For more information about the different income bands, check this bad boy out.
Unfortunately, you won’t quite be rolling in the money. Indeed, if you receive a Maintenance Grant, your Maintenance Loan will be reduced accordingly. You will also have your household income assessed by the Student Loans Company before you can apply for a grant. It’s nothing to be worried about though! Your parents or partner will simply have to enter their details and how much they earn on the online application form.
Special Support Grant…
The government also provides a Special Support Grant for people on income support or housing benefit. This is essentially the same thing as a Maintenance Grant: you’ll receive exactly the same amount as you would with a Maintenance Grant, but it won’t affect how much money you’ll get for your Maintenance Loan.
Receiving a Special Support Grant isn’t a certainty, but if you’re a single parent, your partner is also a student, or you have certain disabilities, you will probably be eligible for one. Again, like the Maintenance Grant, you will need to have your household income assessed.