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Financial coaching
Hi all, I'm new to the forum For a few years I've considered becoming a financial coach. I have bit of a reputation amongst family and friends for saving money and finding cheaper ways to do things and think I could help turn some peoples lives around who are maybe not so good with saving money etc. There is a lot of stuff…
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38 and going to Uni!
Wasn't sure which board this belonged on so apologies if this is incorrect! My work are funding a degree for me. This will include doing a lot of course work from home. I'm 38, the last time I did anything academic was 22 years ago! Work have provided me with a laptop, monitor, keyboard, mouse and headset - but what else…
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Mature Disable Student
I live in Northern Ireland and have been accepted onto a two year diploma course on Irish language in a local University. But there are difficulties - that's why I'm here 😏 Short Story. I'm 74, classified as disabled, and hold an MA from the OU, single and living on state benefits. To complete the course would be in excess…
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I’ve 50K savings should my daughter take a student loan?
Hi, My daughter will start uni next year. She is a Northern Ireland resident so plan 1 will apply. I’ve got 50k saved for her student finance. Should she take out loans or should we pay it using the 50k over 4 years? Or should we use the money for something else like a house deposit for her? It’s hard to say but she’s not…
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Should I take a student loan for a small amount of tuition fees?
I am starting a 2 year part time course which costs £4,300 a year in tuition fees (£8,600 in total). I am working part time to support myself so as not to take out a maintenance loan and qualify for a student loan to pay the tuition fees. However, the interest rate on repayments is currently 7.1%. I am training to be a…
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The 'How much should you save for your child to go to university?' calc
Hello there Forumites, This thread is specifically for discussing our new University Maintenance Loan Contribution Ready Reckoner tool (for England residents only): The 'How much should you save for your child to go to university?' calc This is the first incarnation of this tool, so please give us your feedback. Cheers,…
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Benefits of taking my 3rd year maintenance loan vs using savings
For the first two years of university I have taken a full maintenance loan alongside work and some money from parents to fund my day to day and increase my savings. However this summer I have undergone an internship earning around 6000, alongside my existing savings of around 8000 I think this will definitely be enough to…
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Bursary v maintainance loan
My daughter hopes to study nursing and will receive a £5000 annual bursary which is a similar amount to the minimum maintainance loan she’d be eligible for. If she can manage off this amount, should she avoid taking out the maintainance loan to reduce her future debt, or would she be financially better taking it still and…
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Student Finance Wales: Completed my repayment, now asking for more money?
Looking for some helpful advice regarding the current situation I find myself in... Storytime: I went to uni back in Sep 2014 (Plan 2), and subsequently dropped out in Jan 2015 following the correct procedures - informing Student Loans Company/Student Finance Wales of my departure, paying off the maintenance loan balance…
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Student loan and death (inheritance)
What happens on the death of someone with an outstanding student loan? Is the debt written off, or is it a debt payable by the estate?
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Children’s income from pension
Hello there My children’s father has recently died. He was under retirement age and there are possibly benefits payable to the children from his local authority pension. One of them is under 18 the other under 22 in full time continuous education. I think they will receive a dependent child’s pension each month and a share…
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Can you open 2 student accounts?
Hi, Santander are my chosen bank account because of the overdraft facility and the student discount railcard BUT Halifax are offering £100 if you deposit £500 until November. Can I open both and close the Halifax one after I get the £100? I have read the Ts and Cs and there's doesn't seem to be anything preventing that.…
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Struggling with Student Loan Repayments
Hi guys, I have all 3 plans: Plan 1, Plan 2, and Post Graduate. My student loan repayment is just as much as my national insurance. On a £37K salary I am paying £206 a month in payments. On top of National Insurance, Income Tax, Pension, and CSA, it's around half of my income is gone before I get it. Is there anything I…
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Student loan plan 2 - interest rate from September
Hello! I am wondering if anyone has any information on what the interest rate will be for plan 2 student loans from September. My understanding is that e current 7.1% cap is only applicable until September 2023. And that as of then, the March RPI will be used (per the normal rules). With March's rate still being above…
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How much student loan should I take out??
I'm a welsh medical student who has a lifetime ISA. Is it worth borrowing extra student loan to invest in the ISA to maximise the government contributions I'm entitled to (25%)? The benefits of this for me in the next ten years would be great. However, I'm not yet sure what my future career path looks like, and am unsure…
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Plan 1 student loan - pre 2006
Hello The interest rate on my loan has gone up to 6%. I'm just curious is this tracked to base rate, so if the base rate goes down to 2% will the interest on the student loan go down there as well. Or will it stay high? I beleive for may years it was around 2%
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Student loan - should we pay off for 25 year old son earning £40k
Hello, I know there is an awful lot of info on whether to pay a student loan off. Could I run by our scenario to get some advice please. I have bullet pointed for ease. * Son is 25 years old and got a graduate trainee scheme which he finished 2 years ago with a very large company. He is now fully qualified in the insurance…
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Pre1998 loan (Scotland)
I have 3 loans, taken out in 1996, 1997 and 1998 (in Scotland, though I am not sure that matters pre 1998) My understanding is that these should be written off 25 years after the first payment date of my last loan, or when I turn 50, whichever is sooner. My repayments are currently deferred until 19th October (I have…
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UK student started uni Sep22, applying for loan 2023
Our son started uni Sep2022, and we paid his full living allowance for 1 year. He is applying for a student loan this year and next. Will he be on plan 2, or the new plan 5? We are UK citizens living in UK. Thanks
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Unihomes Gas & Electric
Hi all, My son is moving into a shared house for 2 years next month, and the previous students had used Unihomes for the Gas / Electric / Broadband etc .. I’ve done a quick quote on their website, but their quoted monthly repayment seems very high. Can he change to another provider ? I’m guessing he’ll need the MPAN number…
