Now that students have filled in their part of the student finance application, it’s time for parents to fill in their information. So you know what you’re doing, here’s how to complete the student finance PFF2 form for 2023/2024.
Although the initial student finance application only takes around 30 minutes, the important part is the parental financial information. This determines how much money students will get during the academic year, so it’s vital that it’s done correctly so no one is shortchanged.
However, filling in any form that you haven’t seen before can be overwhelming. To help you out, we’re breaking the PFF2 form down so you know what to do when it comes to it. Completing it as soon as possible means giving SFE more time to process the application. That means the student will get their money on time.
So you can do it quickly and properly, here’s how to complete the student finance PFF2 form in 2023/2024.
Who Should Fill In This Form
You should only be completing the student finance pff2 form if you are one of the following to the student:
- Parent (Biological or Adoptive)
- A step-parent.
- You are living with one of the student’s parents.
- Partner of the student.
If you aren’t any of these, then you should get in contact with SFE to get the correct form or to ask why you have been sent the pff2.
If you are, then you should be prepared to share personal and financial information throughout the form. For the 2023/2024 academic year, student finance will need information from the 2021/2022 tax year.
How To Complete The Student Finance PFF2 Form
The form will be broken down into six sections, checking the information thoroughly. In some instances, you will need to provide evidence, which will be in the form of payslips, P45s etc.
- Section 1: Personal information
- Section 2: Data sharing
- Section 3: Financial information
- Section 4: Any other income
- Section 5: Income deductions
- Section 6: Dependants
If your household income has dropped significantly since 2021/2022 (15 per cent), then you can request a Current Year Income Assessment, which would review your expected income for 2023/2024.
Section 1
You’ll first need to enter the student’s details, including their name, DOB and customer reference number. The reference number will be on any paperwork, but you can always communicate with them if you’re unsure.
Then, it’s time to input your information. You’ll be asked about your relationship to the student, your marital status as well as your name. There is space for both Person 1 and Person 2 to complete this in section 1 of the student finance PFF2 form.
To complete this section, you should fill in your address, DOB and contact information.
Section 2
This section is short and sweet and only asks for your National Insurance number. You can also tick a box if you don’t have one.
Section 3 Of The Student Finance PFF2 Form
Not so short and sweet, this is for your financial information.
You need to indicate how much you earn from your salary (without deductions) and well as any benefits you receive.
If you have a pension, you will also put this in here.
Savings and investment income should also be provided, as well as any other income that doesn’t apply to the above. If you didn’t, you can skip section 4 of the student finance PFF2 form and head straight to section 5.
Section 4
You will need to fill in section 4 if you receive income from any of the following:
- Self-employment
- Minister of Religion
- Property lettings
- Foreign Income
- UK Trusts
- Overseas pensions
- Overseas income and gains
- Other taxable income or lumps.
Section 5
This is where you will declare your deductions from your income. You will be asked if you paid any of the following:
- Private pension
- Additional Voluntary Contributions
- Tax relief on allowable expenses
Section 6 Of The Student Finance PFF2 Form
Last but now least, your dependents. This initially includes any children who are not in higher education or are wholly or majorly reliant on your financial support.
You should also include their earnings, but only if they are over 16.
Enter their name and DOB and then their income.
You’re then prompted to fill in information for children who are at university. This is the same information as the above, but will include their course and place of study and if they get any financial support.
All that’s left to do is fill in the declaration depending on whether you are posting the student finance PFF2 form or uploading it.