Sunday, 29 January 2012

Get the Facts About Student Loans And Income-Related Benefits

By Rodger Lane


Students in the UK can apply for various forms of financial assistance such as tuition fee loans, maintenance loans, as well as maintenance grants. Maintenance loans are intended to help students cover their living expenses while maintenance grants are offered for an additional help. Tuition fee loans are available to students who find it difficult to meet tuition-related expenses. Returning are new students who are enrolled full-time can apply for a tuition fee loan, and the maximum amount is 3,375 a year. This amount is paid to the student's college or university. The tuition fee loan may not cover the full tuition cost for students who are enrolled in private colleges and universities. Part-time students do not meet the requirements for a tuition fee loan. As another option, such students can apply for a fee grant, which does not have to be repaid and is paid to one's college or university. The maximum amount students are eligible for depends on their household income, course intensity, as well as on their individual circumstances. By intensity is meant the time required to complete a course. If the student has a partner or dependents, the amount they get may increase.

Maintenance loans are also offered to students, and the amount they are entitled to is based on their household income as well as on where they live. The amount is based on whether the student studies in London, studies outside London, or lives at home.

Some types of grants, loans, and other forms of student financing count as income while others do not. These include the Maintenance Grant and the Adult Dependants' Grant, available to full-time students. Maintenance loans are also a type of student support that counts as income if a person chooses not to take it out. Payments by the Access to Learning Fund are counted as well when used to cover general living costs. In addition, bursaries, which are not for course-related costs and childcare are counted.

Other types of student financing do not count as income, such as tuition fee loans, tuition fee grants, and higher education grants. The parents' learning allowance and childcare grants are not counted as well. In this category are special support grants as well, available to full-time students.

At the same time, students on a low income who study part-time or full-time may be eligible to receive benefits. Council Tax Benefit, Housing Benefit, and Income Support are among them. In general full-time students are not eligible to receive income-related benefits, but there are some exceptions. Single parents and persons who live with a partner and have a child can claim income-related benefits. Students with disabilities can claim disability premium, severe disability premium, and Employment and Support Allowance. Part-time students are eligible for Jobseeker's Allowance under certain conditions. They should be below retirement age, available for work, actively seeking work, and capable of working. In addition, they should be working sixteen or fewer hours per week or be out of work.




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