maintenance loans and grants

[Chris H]

Hi folks

I caught wind on the forum that cadets can have a maintenance loan and grant based on their parents income (even though we are becoming independant adults and such). this would be a lot of money, even if the loan isn't touched it would be nice to have it there in an emergency.

Is this true?

[alistairuk]

Re: maintenance loans and grants

You can apply for a student loan just like normal students.

[ Post made via Mobile Device ]

[Chris H]

Re: maintenance loans and grants

You can apply for a student loan just like normal students.

How about grants?

[CharlieDelta]

Re: maintenance loans and grants

Them too. If you're on a FD course you can apply from phase 1, and HND from phase 3.

[AndyK]

Re: maintenance loans and grants

... even if the loan isn't touched it would be nice to have it there in an emergency.

Good idea, but remember that the student loan still has interest so could end up worse off if you decide to take it. You can get assessed two ways, either means tested or non-means tested. With means tested they look at your household income (also looking whether you are dependant or independent and/or have any dependants you provide for) and work out a suitable amount. With non-means tested its just a standard amount across the board. If I were you if you are getting a suitable allowance from your sponsoring company I wouldn't go into loan territory. I took a student loan out 4 years ago when I went to Uni just as the top-up fees came in and looks like I am going to repay ~? 32 k without the interest. It was definitely worth it but sponsoring companies will pay more than the student loans company (or finance england, whatever they call it now) will give you in loans and grants. Either way its worth looking into

[Beef1992]

Re: maintenance loans and grants

Just a word of warning

We were told that applying for a student loan is fraud but applying for a Student loan For maintence is the only exception , and Maintence grant . Getting loans for course fees could land you in big trouble with the new goverment

I know You have mentioned about Maintence only dont be temted to get the Course fee loans also as it wont be worth the hassle

[CharlieDelta]

Re: maintenance loans and grants

Course fee loans are paid directly to the university so they'd very quickly get sent back to the SLC - or so you'd hope...

[Beef1992]

Re: maintenance loans and grants

Hmm it may have been something else the guy was ranting on about to do with a sector of loans. he was very adderment about it.

[CharlieDelta]

Re: maintenance loans and grants

It is important to declare your own income to the SLC though, if you're applying for means tested.

[Beef1992]

Re: maintenance loans and grants

Another problem he mentioned is that due to sailors not paying Income tax, it is very hard for them to make you pay it back. due to being out of the country for 184 days therefore not paying Income tax

[CharlieDelta]

Re: maintenance loans and grants

This is true, it's effectively up to you to contact them with details of your income and set up a direct debit in cases where they can't do payroll deductions.

[AndyK]

Re: maintenance loans and grants

Another problem he mentioned is that due to sailors not paying Income tax, it is very hard for them to make you pay it back.

But student loans are a separate deduction not part of the tax deduction. Don't we still pay NI ?

[alistairuk]

Re: maintenance loans and grants

Another problem he mentioned is that due to sailors not paying Income tax, it is very hard for them to make you pay it back.

But student loans are a separate deduction not part of the tax deduction. Don't we still pay NI ?

He means as you are normally employed by foreign companies you are not paid through the PAYE system, therefore it is not automatically deducted from your salary. You have to make your own arrangements to pay it back as well as National Insurance contributions... If you are paid through PAYE then the difference is your employer will automatically deduct NI, Student Loans and tax - in which case you need to claim the tax back at the end of the year via self assessment or your accountant (assuming you have met the requirements to not have to pay tax)

[ Post made via Mobile Device ]

[AndyK]

Re: maintenance loans and grants

Ah sorry I misunderstood - cheers for clearing it up. Makes sense now

[weerossi]

Re: maintenance loans and grants

Just a little heads up to stop anyone doing what I done. I am scottish and studying in glasgow so I am able to get money from SAAS or so I was led to beleive. On my joining instructions I was told I am doing the HNC Marine Engineering course so I should apply for SAAS. I applied and was given around ?350 over 3 months, then I was told I shouldn't be getting this as phase 1 of the HNC course is an NC which make me ilegable of receiving funds from SAAS until phase 3 when the HNC course starts.

So as an already skint student I have to pay SAAS back ?350 due to being given missleading information.

So if you are about to Start HNC make sure you arn't doing a NC first before you apply for funds