Student Loan 2015 Discussion

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  • devildog
    devildog Posts: 1,222 Forumite
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    I guess it would depend specifically on your uni/course etc. As you are talking erasmus I am assuming your course could be in language?
    I currently have one doing this (not erasmus) They still got tuition fee loan for this year albeit substantially reduced because their UK Uni only requires less than 1/4 of the 'normal' years tuition fee and the overseas uni does not take tuition fees from them. So yes you should be able to get tuition fee loan. Depending on where you go/lenghh of time etc you may also be able to get more than the 'maximum' maintenance loan if the area you are going to costs more to live in.
  • Jdubb
    Jdubb Posts: 140 Forumite
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    of the parent(s) for the calculation of grants etc. for the first-time 2012 undergrads? Many thanks:xmastree:
    Jdubb
  • devildog
    devildog Posts: 1,222 Forumite
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    April 10/11
  • Jdubb
    Jdubb Posts: 140 Forumite
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    Thanks Devildog!:beer:
    Jdubb
  • spatchalina
    spatchalina Posts: 3 Newbie
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    I am hoping someone on here can give me an idea of how this will work, I'm really trying to avoid having to deal with Student Loan Company after previous horrendous experience of trying to get answers!

    I finished me first BA degree in June of this year, and I'm now looking to start a PGCE next year, which will of course fall under the new fees regime. I was just wondering how it would work with me repaying my loans, as I will have one under the old system, and one under the new...

    Any help would be great, I can't seem to find any answers anywhere!

    Thanks
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
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    The offer letter for our son says
    Tuition fee - £9,000: This is for the first year only. Fees for subsequent years are subject to an annual increase.

    Does anyone know how they calculate this annual increase please?
  • The_One_Who
    The_One_Who Posts: 2,418 Forumite
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    setmefree2 wrote: »
    The offer letter for our son says

    Does anyone know how they calculate this annual increase please?

    I presume it will work in a similar way to the previous system. Fees started off at £3000, but there were annual increases that took it up to a maximum of £3,375 for 2011 entry.
  • tyllwyd
    tyllwyd Posts: 5,496 Forumite
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    spatchalina wrote: »
    ... I finished me first BA degree in June of this year, and I'm now looking to start a PGCE next year, which will of course fall under the new fees regime. I was just wondering how it would work with me repaying my loans, as I will have one under the old system, and one under the new...

    I may well be wrong, but I was under the impression you didn't have to pay off both loans at the same time - so you would start by paying your original loan then when/if you've paid that one, you start paying the next one. But the second one will have been accruing interest in the meantime, of course. Does anyone know if that's right?
  • Oldernotwiser
    Oldernotwiser Posts: 37,425 Forumite
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    tyllwyd wrote: »
    I may well be wrong, but I was under the impression you didn't have to pay off both loans at the same time - so you would start by paying your original loan then when/if you've paid that one, you start paying the next one. But the second one will have been accruing interest in the meantime, of course. Does anyone know if that's right?

    You certainly don't pay 9% of your income to one loan and another 9% to the other.
  • amiehall
    amiehall Posts: 1,363 Forumite
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    tyllwyd wrote: »
    I may well be wrong, but I was under the impression you didn't have to pay off both loans at the same time - so you would start by paying your original loan then when/if you've paid that one, you start paying the next one. But the second one will have been accruing interest in the meantime, of course. Does anyone know if that's right?

    Although obviously there aren't people in this situation already that can tell you exactly what they were asked to pay, my understanding is that you will be required to make repayments of 9% of your salary above £15k and the student loan company will automatically distribute the payments across your loans according to their regulations. I have 2 different student loans and I know my payments are allocated in the way that most benefits me ie. the loan with longest until it expires is where payments are allocated.

    It may not be so simple for you in that possibly, if your salary is £15-21k, payments possibly can only be allocated to the BA loan as the PGCE one won't have reached repayment threshold? You would need to check but you shouldn't have to make 2 separate repayments. People with PGCE loans have always been exempt from making repayments to 2 loans at once.

    What you are missing out your salary will be 9% of earnings above £15k, how these payments are allocated is the bit that's a bit up in the air.
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