-
Student finance vs using money from Child Trust Fund
My son is due to start university this Sept (24) and is undertaking a 4-year integrated MSCi, which at the current rate will incur fees of £37K (assuming they're not raised in the interim). We've saved consistently in his Child Trust Fund which is due to mature soon (on his 18th birthday) and currently has a value of £34K.…
-
SLC repayment confusion
Hi! So basically I have a question regarding SLC loans, as while I do understand the broad mechanism of it, I feel like it's actually very confusing to get contextual help from them because some staff is underprepared and probably don't understand the 'fine print' part of it either. Some of it is just ambiguous altogether.…
-
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…
-
Student Loan - Two Jobs One Employer
Hey Guys, Question regarding plan 2 for SLC: The slc website says that if you have two different jobs then the loan is repaid for each one separately. So If the threshold is 30k and you have two jobs earning 20k each, you wouldn't need to repay anything as they are both under the threshold. My question is: would this also…
-
Paying Student Loan in retirement?
Does anyone know this? I took out another student loan as a mature student. So some will still be outstanding after I retire. Most loans get wiped at 65 years old. But this one doesnt, it says it gets wiped after 30 years. But that is after Ive retired. So what are the implications? I wont be earning so they cant take…
-
Plan 5 student loans - how will they apply to PGCE students?
Hello, My daughter is just finishing her undergraduate degree, so she is on a Plan 2 loan. In September she will start a PGCE. My understanding is that PGCE loans are treated as undergrad rather than postgrad loans, so presumably her new loan will be added to her existing loan. However I have just heard about Plan 5 and am…
-
Repayment Threshold 2025/26
With RPI for March in at 4.3%, from 6 April 2025 the repayment threshold for • plan 1 loans will rise to £26,065 (24,990 x 1.043 rounded up) • plan 2 loans will rise to £28,470 (27,295 x 1.043 rounded up) • plan 4 loans will rise to £32,745 (31,395 x 1.043 rounded up) The following repayment thresholds are currently frozen…
-
Student finance application 2024
Iam seeking help as we are trying to fill in application for DD University. We are supposed to declare taxable income what do I do if my income is Non Taxable? I.e in p60 tax deducted 0. Tax code NT (non taxable) should I still declare it. Also same for partner pension wise . I'm so confused. Thanks in advance for help
-
Pay in stages of get student loan
Hi all I am going to be starting a history degree with the open uni but I don't like the idea of the student loan over my head and having it there for 40 years..I am not sure what my income will be in the future. I am able to put year one on a credit card and pay that off over time. I just worried if I do.drop.out that the…
-
Student loans, travel, and freedom of movement
My daughter has a student loan for her undergraduate degree and it
moving on to do a masters. She is not working - variety of reasons
not relevant here - but she is worried about the impact of the loan
on her freedom of movement. For example, her gran lives abroad and
she wants to go and stay with her for an entire summer…
-
Mature Student Physician Associate
I would like to get some clarity…and maybe some input from others also on this. I am a mature student (40 years old). No dependents. No children. Not married and no partner.…
-
Student Loan Company refused overpayment return
Hi there, I had a student loan in 2001 - receiving the first payment of £2,000 in September before quitting University just before the next term started and the second £2,000 payment was made. I contacted SLC to inform them I had left university and to ask how to repay the second payment which I wasn’t entitled to. I was…
-
Having a plan 2 loan and then starting a PGCE
I started university in 2020, so was on a plan 2 loan. I am starting a PGCE in September. As far as I'm aware, I will therefore be on a plan 5 loan. Does this mean when I start to repay it, I will have to pay back both loans separately at the same time, so my total yearly contributions to both will end up being around…
-
Guide discussion: Student loans in Northern Ireland
This is the place to discuss our guide on 'Student Loans: Northern Ireland'. We'd love to hear your thoughts, personal experiences, and general feedback. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.'
-
Plan 5 student loan question
I'm 36 and have a place on a graduate entry medicine course. I would be 40 when I graduate. I understand the new plan 5 student loans are not written off until 40 years. Is it possible I could be repaying the loan up until I'm 80, if my income or pension were over the threshold? I'm debating whether to take up my offer due…
-
I've paid more than 9% over the threshold
Hi, I've tried to get a refund in the past because I paid more money to the SLC than the 9% over the threshold, but they said they can't refund me as I earnt over the threshold that year, regardless if the amount I paid was incorrect. Are they allowed to do this? The same has happened this year, I've still aplied for the…
-
Can't reclaim Student Loan overpayments for 2023/4???
The Student Loan Company had the form to reclaim previous years on their website but said we had to wait until the 6th April before any claim can be made against the previous tax year. I overpaid due to a lump sum of back pay but am still under the annual threshold and have been waiting months until April to claim it back.…
-
Student Bank Account Perks - Free Railcard
Santander offer a free 4 year railcard if you open up one of their student bank accounts. It states that the student account gives a definite £1,500 0% overdraft in years one to three, provided you pay in £500+ every four months. You can also claim a free four-year 16-25 Railcard (worth £100) If you don't pay in £500 a…
-
Post grad loan or self-fund - will I gain on interest if I take the loan?
If I do a Master's, I can get a loan of £12,000. I'm looking at three courses, each costing £5,500, £7000 or £10,800 (I will pick one). I earn more than £21,000 but less than £27,000 a year, and will be studying part time. If I take the loan, will I gain more interest by putting the bit I don't need into a good savings…
-
Is Martin Lewis still correct with not repaying student loans early in this situation?
I have a plan 1 loan that was quite big. Martin's advice has always been to not repay them because it's not like other debt, has "no real cost of borrowing", and gets written off eventually etc. The main point he makes is that there are better uses for your money, such as paying off other debts with higher interest rates…
