Bursary - question on form
Moderators: Section Moderators, Forum Moderators
Bursary - question on form
Hallo
I am just going through the form for DD1's senior school and it asks:
"If there are any reasons why net assets cannot be converted or utilised to pay school fees or to fund fees please give details on a separate sheet."
I was just going to leave this and not give any details on a separate sheet. The school will then take the view that we can remortgage I guess. But perhaps I should fill out some details? Is this a normal question for a Bursary? We have remortgaged once 4 years ago to release some money towards day to day expenses ie school fees. Do I mention this? What about the fact that DH is dead against releasing any further equity - is this a valid reason?
Any views appreciated.
Richmond
I am just going through the form for DD1's senior school and it asks:
"If there are any reasons why net assets cannot be converted or utilised to pay school fees or to fund fees please give details on a separate sheet."
I was just going to leave this and not give any details on a separate sheet. The school will then take the view that we can remortgage I guess. But perhaps I should fill out some details? Is this a normal question for a Bursary? We have remortgaged once 4 years ago to release some money towards day to day expenses ie school fees. Do I mention this? What about the fact that DH is dead against releasing any further equity - is this a valid reason?
Any views appreciated.
Richmond
-
- Posts: 12817
- Joined: Fri Sep 15, 2006 9:51 am
- Location: The Seaside
Hi
I have never had experience of filling in a form like this - certainly sounds like they are not going to easily part with their money!
I suppose they are looking to see if people are sitting on vast equity in a property and could remortgage - off course many people may already have mega mortgages and little equity, but then their net assets will not be great.
Reasons I can think of why net assets could not be converted would be that they are jointly owned by someone else eg parent or sibling etc .. or a part of a trust etc.
tricky!
I have never had experience of filling in a form like this - certainly sounds like they are not going to easily part with their money!
I suppose they are looking to see if people are sitting on vast equity in a property and could remortgage - off course many people may already have mega mortgages and little equity, but then their net assets will not be great.
Reasons I can think of why net assets could not be converted would be that they are jointly owned by someone else eg parent or sibling etc .. or a part of a trust etc.
tricky!
Yes in our case our only asset which has some "net" is the property (although I do have some savings - see later). We could try to remortgage again, although the property is jointly owned so if DH refuses then that would not be an option. I do have some savings but not a lot. I dip in for a top up towards school fees as and when needed.
There is also another section, Assistance from other sources. I have mentioned the amount we get termly from grandparents towards DD2's fees (not DD1's), but it says:
"In order to help the greatest number of parents who need financial assistance, all those who apply for a grant from the school are asked first to enquire if they are eligible for assistance from any other source. Please state whether you have applied to trusts or foundations for a grant, and if so to which and with what result."
I did not think we would be eligible for any other grant but must admit have not researched this property as yet. I thought this related to certain groups of people ie children of ministers/servicemen etc. but perhaps not? Anyone had experience of this?
Thanks
Richmond
There is also another section, Assistance from other sources. I have mentioned the amount we get termly from grandparents towards DD2's fees (not DD1's), but it says:
"In order to help the greatest number of parents who need financial assistance, all those who apply for a grant from the school are asked first to enquire if they are eligible for assistance from any other source. Please state whether you have applied to trusts or foundations for a grant, and if so to which and with what result."
I did not think we would be eligible for any other grant but must admit have not researched this property as yet. I thought this related to certain groups of people ie children of ministers/servicemen etc. but perhaps not? Anyone had experience of this?
Thanks
Richmond
Sympathy - understand how difficult this is. As I posted on another thread some time ago - bursars have duty of care to those parents who struggle to pay fees, cash in inheritance expectations from grand-parents, release equity, cash in pensions, give up season tickets to chelsea, sports memberships etc , so the fact that your dh is unwilling to release equity is not going to be of interest to them... if you CAN'T release equity that is a different matter.
Best Regards,
Thea
Thea
-
- Posts: 12817
- Joined: Fri Sep 15, 2006 9:51 am
- Location: The Seaside
-
- Posts: 1245
- Joined: Fri Jul 06, 2007 9:31 pm