Help With Student Loans - HERE!

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  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Post First Anniversary
    Zaytsev wrote: »
    Confirmation fro SFE my case is being looked at now and payment by next week.

    Thats jolly good! :D
  • anna42hmr
    anna42hmr Posts: 2,844 Forumite
    Name Dropper First Post First Anniversary
    Oldernotwiser wrote: »
    Why does paying 9% of your overtime as repayments make doing overtime pointless?
    Delirium wrote: »
    Hi, sorry if this has been asked before - but is it possible to repay my student loan by direct debit/standing order and not have payments taken directly from my salary?
    The constantly increasing amount being taken is driving me crazy, not to mention making overtime completely pointless!!

    Thanks for any help!

    i kind of agree with you on the overtime amount, as it can be disheartening to see how much the payments increase when done over time as opposed to normal, for instance, i usually pay £35 in slc's each month, but when overtime has been done by me over the past few months it has increased drastically

    for instance for 21 hours over one month, the £35 a month i usually pay went up to £63.00 (bearing in mind i work a 40 hour week, and doing 21 hours at time and a half has nearly doubled my monthly contribution for that month!

    same happened with the pay i have just had for april, did 33 hours overtime and instead of paying the £35 i do in months i dont get overtime, have ended up having deductions of £83.

    The way i am looking at it though is at least it pays it off quicker, and no interest at the moment (though if it does increase to the 4.4% that it could do, may see if i can pay the lot off, or an additional amount each month)
    MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Target: £1800, £572.15 overpaid as at March so YTD = £355.88 Total OP since mortgage started in 2015 = £34,178.29
  • Sylvan
    Sylvan Posts: 347 Forumite
    First Post First Anniversary Combo Breaker
    edited 24 April 2010 at 5:36PM
    The youngest has finally found a college that offers a course he wants to do, but the only way he can do a BSc there is to first do a 2 year foundation degree and then a 1 year top-up degree. There will also the opportunity (during the foundation degree) to intercalate and work in industry for a year.

    If they will only give student finance for the length of the course plus one year does that mean he will only be able to get 3 years in total, so he'll have to choose between the gap year in industry and the BSc?

    Is there any way to get round it?
    Time flies like an arrow.
    Fruit flies like a banana.
    Money talks, but chocolate SINGS

    "I used to be snow white but I drifted" (A seasonal quote from the incomparable Miss West)
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Post First Anniversary
    Sylvan wrote: »
    The youngest has finally found a college that offers with a course he wants to do, but the only way he can do a BSc there is to first do a 2 year foundation degree and then a 1 year top-up degree. There will also the opportunity (during the foundation degree) to intercalate and work in industry for a year.

    If they will only give student finance for the length of the course plus one year does that mean he will only be able to get 3 years in total, so he'll have to choose between the gap year in industry and the BSc?

    Is there any way to get round it?

    He can "Change of Circumstances" the finance. So at the moment he would be entitled so 3 (2+1), then when he changes he will be entitled to 5 (4+1), assuming he does a placement.

    Placement loans are a bit less than main uni year loan.
  • Sylvan
    Sylvan Posts: 347 Forumite
    First Post First Anniversary Combo Breaker
    Phew. Thank you very much. We were so worried that our !!!!lessness would cause him to end up settling for less than he's capable of!

    What he'd prefer to do after the foundation degree is go somewhere else and take a BEng (or MEng). Would they allow that, or does it have to be the same college?
    Time flies like an arrow.
    Fruit flies like a banana.
    Money talks, but chocolate SINGS

    "I used to be snow white but I drifted" (A seasonal quote from the incomparable Miss West)
  • Oldernotwiser
    Oldernotwiser Posts: 37,425 Forumite
    Sylvan wrote: »
    Phew. Thank you very much. We were so worried that our !!!!lessness would cause him to end up settling for less than he's capable of!

    What he'd prefer to do after the foundation degree is go somewhere else and take a BEng (or MEng). Would they allow that, or does it have to be the same college?

    Financially there's no reason why he can't do this but he could find that another institution might need an extra year's study (ie. 2 years) totopupto an academic degree.
  • Sylvan
    Sylvan Posts: 347 Forumite
    First Post First Anniversary Combo Breaker
    But he would still get student finance for those extra 2 or 3 years?
    Time flies like an arrow.
    Fruit flies like a banana.
    Money talks, but chocolate SINGS

    "I used to be snow white but I drifted" (A seasonal quote from the incomparable Miss West)
  • Oldernotwiser
    Oldernotwiser Posts: 37,425 Forumite
    Sylvan wrote: »
    But he would still get student finance for those extra 2 or 3 years?

    It wouldn't need to be 3 years or else there wouldn't be much point doing the Foundation degree first. However, 2 years for FD plus 2 years for top up would be fine as it makes 4 years ( ie 3 + 1) for an Honours Degree.

    Is he not qualified to go straight on to the BEng/MEng?
  • Sylvan
    Sylvan Posts: 347 Forumite
    First Post First Anniversary Combo Breaker
    Oldernotwiser wrote: »

    Is he not qualified to go straight on to the BEng/MEng?

    He's a "straight A" (/A*) student but he wants to do a practical course and none of the universities offer anything sufficiently hands-on. He applied for an HND but they persuaded him to do their foundation degree instead on the basis that they'll still let him do all the good stuff on the side:rotfl:.
    We feel that after 2 years on a course that has an entrance requirement of only 80 UCAS points he's likely to be looking for something more intellectually challenging...

    Will he have to do anything special when he applies for finance, to make sure they link it with his brother's?
    Time flies like an arrow.
    Fruit flies like a banana.
    Money talks, but chocolate SINGS

    "I used to be snow white but I drifted" (A seasonal quote from the incomparable Miss West)
  • such_a_dommy
    such_a_dommy Posts: 14 Forumite
    Hi there SLC,


    A friend mentioned I could work part-time (upto 16 hrs a week) and still receive full award from student loans and also not pay tax...

    though after reading martins pages I will pay tax if i earn over £6400... but not sure if i can get the full amount by earning upto this?

    please could anyone shed any light on this matter as the person i spoke to mentioned just over £1k for the entire year if i didnt work!?!?!
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