Changes to Student Finance if you’re Living at Home this Term

16th February 2021

Changes to Student Finance if you’re Living at Home this Term

If you moved back home in January 2021, this might affect your student finance.  The amount you qualify for when you live away from home is higher compared to if you were living at home.  Usually, if you moved back home during term-time, your loan would be re-assessed and reduced to the ‘living at home’ rate.  However, the Government has decided that for this January term, any student who is still having to pay for accommodation costs that are away from home, such as rent, will not be reassessed.

If you still have accommodation costs even though you have moved back home but don’t want to continue receiving the higher ‘living away from home’ rate of maintenance loan, there is an extra step you will need to complete when updating your contact address to tell the Student Loans Company, about the change in your living arrangements for the majority of this January term.  Once you have made the change, your student finance will be re-assessed and your entitlement reduced 

If you have costs related to moving back home, you will not be able to get any extra funding to cover these.  If you haven’t yet applied for this year and are going to be at home for the majority of this January term, and are still having to pay accommodation costs for your accommodation away from home, such as rent, you should put ‘living away from home’ for this term on your application.

However, you do need to tell the Students Loans Company about any changes and you can do this from your online account.  It is important to note that this UK Government guidance only covers this January term but they will update students about future terms as soon as there is more information.

The link to the official UK Government Guidance is here.

Any Questions?

If you feel that you need further support, then there are several services available at the University and Students’ Union that you can access;

Welfare, Advice, and Support; a team of independent advisors based within your Students Union; [email protected]

Student Support & Advice Team who provide initial and ongoing support to enable you to make the best of your studies with us. You can contact either the Student Support Officers or Academic Advisers; [email protected] or [email protected]

Counselling & Mental Health Team; offers students access to support through Counsellors and Mental Health [email protected] or [email protected]

Financial Guidance Team offers information and guidance on financial matters; [email protected]