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Plan 1 Repayments and when its written off
I started my undergraduate degree in 2004 and ended in 2008. I therefore received student loan payments both before and after the '25 year write off' rule change that applied from 1 Sept 2006. I'm struggling to understand if all of my undergraduate loan payments are written off at the age of 65, or if the loan payments I…
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Student Maintenance Loan - Parents/Household Income
When working out the household income for calculating how much a student would be entitled to for a maintenance loan, is the income purely based on your gross salary? Or does the income include other incomes such as benefits that you may receive, savings accounts etc? Thanks
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student loan vs savings
Eldest about to go off to University in Scotland. Tuition fees will therefore be covered but he'll get no grant as we're above the threshold as we both work. So he could take out a maintenance loan of £6000 +£2400 per year. However, he has savings left by a grandparent currently earning about 5% (though I expect that will…
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Student Loan Repayments, Under threshold
Hi all, i wonder if you can all help me i cannot seem to get any advice off SFE or my work. so i am on band 2 of student loan which states i don't need to pay anything back if i don't earn over 27k or £524 a week. however when my company gets bonus or over payments from wage increase sometimes it works out that it pushes…
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Council tax bill when course has NOT ended
Good day MSE forum members! I need your advice. I know that councils can send a bill for residual council tax to students if the stay beyond the end of their course in a property. However, my son has received one while still having two terms left. The bill appears to be for the third year of his Masters course, which is a…
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Help/advice needed - do I overpay student finance
Hi there, I am on plan 2 (graduated 2017) and have paid off the debt down from 39k to 33k (including associated interest). I have a salary of around 80k and get an annual bonus that would allow me to pay off bigger chunks each year. I was wondering, given the interest on the loans is now higher than savings accounts and…
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Plan 1 finishing how does this effect post grad loan
Hi I’m about to finish my plan 1 UG student loan (finally!). I have been also paying my post grad loan since April 2022 (est finish paying off 2027). If my plan 1 is finished will my post grad payment go up? I was really looking forward to actually having the cash from paying my plan 1 forever!
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Student Loan query
So, I'm reaching the very end of my student loan payments (finally!). However, I'm incurring interest of almost 6.5%. I've managed to get an interest free credit card which would mean I can pay off the balance of my loan, halve my month payments and still pay it off in under the next 12 months incurring no additional…
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Student Loan Arrears Accrued
I recently moved abroad for work commitment, and the student loan company increased my repayment schedule since I moved. I called them to discuss that I cannot afford to pay the increased amount, and after assessing my situation we agreed to £80-100/month regularly without missing payment. They said you will have to pay…
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old style student loan problems
My daughter has defered for 23.5 years but this year is over the threshold..with 1.5 years to go. She's had a quote from Erudio which we simoly can not work out how it was arrived at. They are uncooperative and refer us back to Uk.Gov.UK , but they refer us back to Erudio ! The question is the original loan (the principle…
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Student Loan Overpayment
Hi! This is the discussion thread for the Student Loan Overpayment guide. Click reply below to discuss. If you haven’t already, join the forum to reply. Thanks folks,
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SLC not sure they want to pay out !? I think they are trying new tactics....
I Just got off the phone today with the SLC(0300 100 0628), as I had to reset my password details. I have finished paying off my Plan 1 loan since 1998! (YIPPIE...probably paid more in interest over the years than the loan itself) and they are refunding £71 after calling this number I also asked the lady about claiming…
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Student Loan Closing statement
I am due to pay off my student loan (plan 1 student), pre-top up fees. Last of that lucky generation. Is there a way to get some kind of closing statement stating how much I have repaid in total. Unfortunately I have not saved up all my payslips through the years, and I wouldn't fancy sitting down to tally it up anyway.
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SL over payment
Hey I'm pretty sure I'm due a refund for 2023/2024 tax year. I'm a bit confused though as I can't tell how it works. I earned £27,384 in the first 6 months and went travelling since so haven't earned anymore money. I paid £1,845 in SL repayment, an over payment by my calculations of £90. Where I'm confused is does SL…
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Mature Student Funding
Hi, I am looking for advice on how to fund?borrow for a 3 year diploma course as a mature student. It is not a uni degree and therefore I don't think I can get finance from student finance that way? Any ideas, or anyone done something similar? Many thanks
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Should I self fund or get student loan for full amount
I'm due to start a doctorate in September 2024. Currently work full-time and plan is to continue alongside. The course cost is just over 10k. My original plan was to use the student loan option to pay for the entire course, however by the end of the year I should have £4000 in savings. My original thoughts were to keep…
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Student Loan Overpayment
Due to an SLC mistake I was overpaid on my final maintenance loan. By the time they notified me and asked for the money back it was gone and I had no capacity to repay it. Eventually I was contacted by a debt collection agency which spooked me enough to arrange a Debt Management Plan through StepChange and start to (very…
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MSE News: 'Lifelong loans' to launch in 2025 for those in England wanting to study later in life
People in England aged up to 60 who want to study, train or retrain will be able to access flexible student finance to help them do so from 2025, the Government has confirmed today. The new higher education loan scheme, dubbed the 'lifelong loan entitlement', will be worth the equivalent of four years of post-18 education.…
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Maintenance grant change in circumstances
The Government websites are fairly clear if income drops but not if it increases. If a student with divorced parents, if the current sponsoring household move in with a new partner so the income changes in future tax years, at what point do you notify the changes when it’s based on previous tax years income? The previous…
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Daughter's Student Loan Application Taxable Income Query
I will be completing my daughter's student loan app soon and I have a query. Would interest from my savings need to be declared as taxable income even though I did not have to pay tax on it as it did not reach the threshold. Also I had a small part time job which did not reach the tax threshold so would that income need to…