Originally Posted by tracys

Hi, just wondering if loans are means tested. Our daughter is applying for a loan to fund university and they want all our earnings and tax info.

Surely if they are giving her a loan which she will repay isn't our income/savings irrelevant? We could be rich and refuse to fund her education for a number of reasons, want her to learn to pay her way and take responsibility for her future, etc.

This isn't the case by the way, we are going to make up the short fall on the amount of the loan as it won't cover the costs of tuition and residence.

Any info/advice gratefully received.

Originally Posted by colchar

The parents' financial situation is taken into account if going directly from high school. If the student has been out of school for a period of time (it varies by province) then the parents' income is ignored.

Originally Posted by tracys

My friend went through same process in the 80s, she too got a grant based on parents income. We were all working class and poor back then in the east end of London!

Originally Posted by scilly

I was working class in Lancashire