Bursary advice.....

ukcyberchick · #1 (**permalink**) 03-May-2008, 15:41

I have been reading the bursary information and it states that my husbands contribution is based on his residual income and the following are the only deductions that can be made:

Deductible Expenses used to offset against declared income
􀀗 Employee Pension Contributions
􀀗 Personal Pension / Retirement Annuity payments
􀀗 Other loan interest (if allowed for tax purposes if the person is self-employed)
􀀗 Professional subscriptions and other tax relievable expenses
􀀗 Wages for Domestic Help
􀀗 Maintenance payments made

Do they not take into account living expenses such as mortgage, food, bills etc etc.

smwife · #2 (**permalink**) 03-May-2008, 19:58

yes they do and you will fill in those costs in your bursary application.

However, what you receive depends very much on what your partner earns. I don't know the figure (you'd need to check with them) but if he earns say £50 000 per annum, you'd be entitled to nothing.

Hope that helps?

jam2 · #3 (**permalink**) 08-May-2008, 21:54

Hi, i spoke to a man at the helpline the other day and he told me that maintenence payments paid out are not deducted, but any i recieve will count as income! So it kind of only works one way if you see what i mean?!

lilli · #4 (**permalink**) 13-May-2008, 07:22

sounds like it's not only me in financial form hell!!

you need a bloody phd to fill these forms in and it's never straight forward cause OH is self employed!!

good luck with sorting the forms out, hope they give you plenty of bursary x

upsy daisy · #5 (**permalink**) 15-May-2008, 21:23

Hmmm I'm confused too. My husband earns a basic salary with the opportunities to earn bonuses on top if he hits targets so would this be taken into account under his income given that some months he may earn a decent bonus and other months no bonus at all?!!
x

Noo · #6 (**permalink**) 16-May-2008, 12:52

you'd go buy his overall income the previous year... the amount on his P60 for the last financial year

ukcyberchick · #7 (**permalink**) 18-May-2008, 11:25

Originally Posted by smwife

yes they do and you will fill in those costs in your bursary application.

However, what you receive depends very much on what your partner earns. I don't know the figure (you'd need to check with them) but if he earns say £50 000 per annum, you'd be entitled to nothing.

Hope that helps?

On the form, there is no where to put any thing about food, home insurance, bills, car costs etc. if we didnt have these costs we'd be loaded as it is, after the mortgage, bills, food etc take up pretty much all of his salary for the two of us.

He earnsabout 26k but by the time u take our living expenses out of this, we'll have very little left.

theres no where on the form for other expenses other than those i mentioned in my opening post?!?!?!?

Please help, im sat here in tears as i dont think im going to be able to do this for financial reasons

ollybolly · #8 (**permalink**) 18-May-2008, 18:52

sorry to hear you're upset. As I said on another very simpilar thread yesterday, I hate it when people think they cannot take up a place because of money issues. I always think it is best to start and try and muddle through somehow?
Have you factored in a student loan into your sums? That is extra money that could go towards bills etc.
It is a bummer that the bursary doens't take any of the household stuff into account, it always seems a little unrealistic IMO.
hope you are feeling a bit better this evening,
hugs to you
x

ukcyberchick · #9 (**permalink**) 18-May-2008, 19:14

Originally Posted by ollybolly

sorry to hear you're upset. As I said on another very simpilar thread yesterday, I hate it when people think they cannot take up a place because of money issues. I always think it is best to start and try and muddle through somehow?
Have you factored in a student loan into your sums? That is extra money that could go towards bills etc.
It is a bummer that the bursary doens't take any of the household stuff into account, it always seems a little unrealistic IMO.
hope you are feeling a bit better this evening,
hugs to you
x

Thanks for the reply. I was getting it all round my neck earlier. had completed the forms and was all bursaried out. I thought u needed a residual of income of about 17k to get no bursary at all. hubby sat down and looked at it and pointed out that we might need to make a bit of a contribution but you need to have a residual income of about twice his salary to get nothing at all! Looks like i should still get a reasonable bursary so its all good.

im just so worried that something is going to go wrong and im going to loose my dream that every hurdle i come against feels like a mountain!

jo79 · #10 (**permalink**) 18-May-2008, 19:23

Hi,
I have been in exactly the same position this week, also sat in tears with the forms all around me.
My OH earns about the same as yours and we have 4 kids to put into childcare too. They are very unrealistic about the expenses, like you say we only just get by after paying mortgage, insurances, bills, cars and food etc, etc.
The only thing we can do is try. I wish you lots of luck with your course and hope it all works out x x

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Bursary advice.....

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