Student Loans

[Suetheramble]

I am "lending" money hand over fist to my daughter who is about to start university. I have had to pay for deposit for accommodation; books and tools of the trade on my credit card. Is it normal for all this to be paid before the loan is received?

[Cloverjo]

I think their loan is paid to them at the start of the term.

[bednobs]

as far as i know the loan is not supposed to cover books and tools of the trade anyway

[jack daniels]

my son has just started his final year at uni and every year/term so far we've had to 'pay up front' because it's never gone to him on time - he then transfers it through back to us when it does

hth

Anna x

[IggyStardust]

Tuition loans are paid directly to the college or university, for the cost of tuition fees only. She has probably applied for a 'maintainence loan' too, which cover the cost of accommodation and living expenses and is currently set at the following rates:
1) Living away from home, outside London Up to £5,555
2) Living away from home, in London Up to £7,751

The loan is paid in 3 installments, at the start of each term. If she didn't get her application in very early, she may well still be waiting for the first payment as they are notoriously slow. I know many people that have been in this position and have had to borrow money from parents to cover to upfront costs of starting uni, i.e accommodation food etc. I'm sure as soon as she recieves the first payment, she will re-imburse you. There is also further help available in the form of maintainence grants, which do not have to be paid back. Eligibility varies depending on parents' income but are as follows and per year:

£25,000 or less £3,387
£30,000 £2,441
£35,000 £1,494
£40,000 £547
£42,620 £50
Over £42,620 No grant

Don't fret! :)