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Student loan repayment
I have been trying to find some info on this, but not found much so I am throwing this out to see if anyone has any ideas! I am a mature student and took student finance of £12,000 for tuition fees on plan 2, which I started to re-pay in April 2020, after graduating the year before. Due to my earnings I was paying £60pm…
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Issues with student loan
Our daughter has applied for a student loan for her PGCE. She previously worked in South Korea for two years (22-24), teaching English at a private school. Student Finance has stated that she needs to prove her work abroad was temporary, which it was. She has already sent a letter explaining this, but they have requested…
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Student finance won't cover uni fees after finishing the year
Due to her course starting in July and my daughter enrolling in September, she accidentally applied for student finance in the wrong academic year. She was not notified and was only made aware when applying for the second year that the first wasn't paid for (after hours on the phone to SF and the Uni) by the time we had…
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Student Leaves University Course Early
When someone leaves their course in the first term of the first year i.e. November. What happens to the student loan. Will they be liable for the whole year (tuition fees and maint grant) and what do they have to pay back if any immediately?
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University tuition fee AND maintenance loans in England to rise by 3.1%
Universities in England will be able to charge full-time undergraduate students up to £9,535 a year from 2025/26, Education Secretary Bridget Phillipson has announced today (Monday 4 November 2024). Student living loans, also known as maintenance loans, will also rise by 3.1%, in a move MoneySavingExpert.com founder Martin…
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Sipp and isa for child’s student loan
When they ask your income do they also ask about sipps and isas? I’m self employed and pay into a sipp and isa. Is it better to move money from isa to sipp or doesn’t it matter?
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UK Tier 2 Student Loan repayment from overseas
Hello, I went to pursue a degree in England and took out a student
loan. After graduating in 2019, I returned to live in my home country Bulgaria. I then started to work full-time in Bulgaria and since I was
no longer in the UK, I had to contact Student Loans Company to inform them of
my current residence and income so…
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Mature student over 65 in Wales
Hi, Im doing a part time BA, starting this September. Will I still be financed after retirement? Thanks
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Can I get a refund if I overpaid BUT did reach the yearly threshold?
My monthly pay varies as I do a lot of overtime, so some months I paid and most I didn’t. My annual earnings ended up just exceeding the limit, but as my earnings were much higher in some months I have ended up paying more than 9% of the amount that I am over the threshold - by about £100. Can I get a refund of this, or…
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Returning to study
Recently returned to study (Level 7, year 3) as a mature student with extremely limited time. Can anyone suggest how to get assignments done as quickly and efficiently as possible? I’m aware of various apps (OpenAI & Grammarly) which seem to be useful tools for creating an outline/template but not sure how good they are at…
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Advice about finance available for a mature student doing a healthcare BSc
Hi all, Would appreciate some advice as everything online is confusing. Can you get definitive advice about student finance before you apply to Uni? It would be make or break for me so the whole 'you may be eligible' is not very helpful This is my situation: I have a degree from way back. I am now mid 40s single parent…
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Salary sacrifice & student loan repayment
One of the children received a job offer for when she graduates next year. It’s only £28K salary but includes becoming chartered and she also has the option to salary sacrifice both pension and EV. Does salary sacrifice come off the income threshold for student loan repayments ?
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Age related cancellation
Hi, looking for some reassurance. I have the old style student loans, taken out in 97,98,99 - am I correct in thinking all of these will be wiped this year despite the 98 and 99 loans having been sold to Honours, and the 97 one still being with Erudio? Never defaulted, always deferred on time. Interestingly, this was the…
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Searching for professional student loan repayment advice
I was of the 2012 university intake (the first to pay £9K per year) and my monthly student loan repayments have increased significantly over the last couple of years. I am now looking to assess whether it would be worth trying, somehow, to pay it off in one lump sum. Beyond the good threads at MSE, i can't find anyone who…
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Old student loan
hi, I took a 1 year student loan out in 1996 (course ended June 1997), in Scotland. From info I have found on this website I think this should now be cleared but I’m still being hounded by Erudio for payments. It is over 25 years since first payment would have been due and I also turned 50 this year so under both scenarios…
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Mortgage style student loans....calculation ?
My daughter has one of these via Erudio, and although it's finally due to be written off in 2025 she's now paying a whack as her gross pay has reached the threshold. The rate was 13.5% and I found the method it was calculated over a 5 year period...but couldn't get this to agree with what Erudio are asking her to pay. Now…
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To pay off my student loans?
Hello All, I'm very confused if I should think about paying off 1 or both of my student plans, despite watching and reading Martins advice. I think this is because I'm considered a higher earner. I'm 43yrs old and think I may pay some of it off before I retire, especially as I expected to be promoted in the next few…
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Plan 5 Student Loan Interest 13.5%
My daughter’s loan account (Plan 5) states that her interest rate is 13.5%. I can see from a thread on Reddit she is not the only one. I believe the current rate according to the Gov site should be 4.3%, as it has been capped at this. Is she being charged at 13.5% if this what’s displayed? Would be good to know if anyone…
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Student Loan and investments
Hi, I am trying to advise my son who is just starting university in London and taking out a student loan. He is also lucky enough to have some investments in the form of an ISA and a trust which cannot be accessed for another 6 years. My question is, if after graduating he takes a job at 25K pa, just under the current…
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When does 30 years start for Plan 2 student loan if you leave at the end of Year 1?
My son completed Year 1 of University and left in July 2021 deciding that it wasn't for him. He only received one year of student loan, and the student loan company were advised by the University that he had left. He has been working but has not reached the repayment threshold since then and had been assuming that these…
