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Plan 1 Loan pay off or not
Ill try to keep it simple, My estimation at current loan, 03-06 £15k (Write off at 65) 07-08 £4k (Write off after 25 years) I probably pay off £500 a year and I'm 37yo. I'm self employed so earnings change but don't really have desire to earn much more in future. I could pay it off from my savings if wanted to. Question 1…
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Student Finance income change
I am applying for my daughters student maintenance grant and they have asked for my tax year ending 20-21. This amount is £38500. However I had been laid off in June 2021 and only just found employment in March 2022. Due to being between jobs I have not received a P60 for the current year? and only earned approx. £10-11…
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***Change of contract for new student house in Aug 22 - changes to gas/elec allowance*** Advice!!
I'm a parent of a student about to move in to a student house in August. Contract was signed in Dec 21. 9 students moving in together. They took out an unlimited gas/elec agreement with lettings agent. However in that time obviously gas/elec has risen. I'd like to know their rights. Can a letting agent change the policy…
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Student rent that includes utilities going up because of Increasing energy prices
My son and his 2 friends (who will be starting their 2nd year study at University in Sept) signed a tenancy
agreement for a 2nd year student property back in December. The tenancy is for a 12 month rental starting in August. Utilities are included in their monthly rental payment, and these utilities are limited by a fair…
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Student Maintenance Loans and Household Residual Income
Our twins are off to university next year, and we are keen to maximise our maintenance loans. At the end of this year, my wife intends taking a career break and supplementing her loss of income by lump sum Draw Downs (or UFPLS -Unchristallised Funds Pension Lump Sums) from her pension. The only other "income" then, will be…
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Write-off date of multiple plan 1 loans
Hi - I have quite a specific question about write-off of my plan 1 loans. I have 2 separate loans both plan 1 I attended university in 2006, left in 2008 with that loan going into repayment April 2009. Under normal circumstances, this loan would be written off April 2034. I then went back to university on a different…
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With the changes to student loans coming in 2023, is it worth my child deferring applying for loan?
Hi all, my young adult will be starting uni this year (2022) on a six year course (medicine so likely to have good job security/earning progression)... obviously thinking now about applying for a tuition and maintenance loan. We'd only get the minimum maintenance. I'm uncertain whether long term it's be better for her if…
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MSE News: MSE pressure forces broker Tembo to remove ads encouraging...
Mortgage broker Tembo has taken down misleading online adverts encouraging people to remortgage to repay their student loans after pressure from MoneySavingExpert.com (MSE)... Read the full story: 'MSE pressure forces broker Tembo to remove ads encouraging people to pay off student loans by remortgaging' If you haven’t…
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Student loan interest rates could rise to 12% this September
Student loan interest rates are set to rise for many from September – though the changes are yet to be finalised by the Government. Current students in England and Wales, for example, could see the interest rate they're charged jump from 4.5% to 12%. Meanwhile, many former students with outstanding loans may see rates rise…
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Student loan repayment
I am paid weekly in my job and some weeks my wage would have been higher than normal due to things such as overtime, been paid holidays or a yearly bonus. On these weeks my employer would have taken repayment for my students loan. I was expecting to be able to claim this money back at the end of the tax year. However when…
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Renewing my amazon prime student membership
Hi all, My amazon prime student membership has expired after the 4year period. Ive cancelled the auto renewal at full price but i wanted to know if there was another way of renewing my amazon prime membership at a cheaper rate or renew at the student rate again without creating a brand new account. Any help or advice would…
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Navigating rising bills as a postgraduate student
As indicated in the title, I'm currently doing my MSc and renting privately in London - a challenging balance at the best of times. Since I took time out of work to undertake my studies and I'm not earning an income at the moment, the rising cost of bills is and will continue to put an increasing pressure on my finances.…
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NHS Exemption Card
I’m trying to access an Exemption Card for my daughter so she doesn’t have to pay for prescriptions, sight tests, dentistry etc while studying in England. As I live with the rest of the family in Wales I’m finding myself shunted back and forth between England’s NHS and NHS Wales. I know they operate independently, but they…
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Student accommodation guarantor insurance for joint and several liability
Does anyone have experience (good or bad) of taking out insurance to cover joint and several liability as guarantor for their child's student accommodation?
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Son going to California to continue degree
Hi, just after some advice/tips please. My son has been accepted to continue his International Business studies degree at California State Uni at Long Beach. Does anyone know if there are any grants/financial help for this? He's applying for his normal maintenance loan but I think he's still going to be short as it's so…
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student loan shake up 24 Feb 2022
Here is a link to the MSE news article on the student loan shake up announced today: https://www.moneysavingexpert.com/news/2022/02/student-finance-loans-changes-education/ TLDR: loan repayments continue for an extra 10 years, thresholds frozen, estimated that 52% of students will fully repay loans.
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Maintainace loan - final installament
My student son has 3 weeks left of his undergraduate degree when he returns after Easter hols. His last student loan will be paid on the first day he returns. Will that be less then he's previously received? I believe it will be as this is what I've read before because it doesn't have to last him through the summer. He…
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Maintenance grant after starting university
If my household income is too high to be eligible for a maintenance grant when my son starts uni, but the following year it drops to a level where we are eligible, can he then get one or is it too late?
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Is there anyway to get a maintenance grant for an online part time degree for a mature student?
I recently became unemployed after a full time administration assistant contract ended. I have been working in admin for 7 years and mostly disliked it. I have been offered a new job but it is only 25 hours a week. I am glad to be spending less time doing admin, but I am not glad of the 10,000k a year wage decrease. I…
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Repayment Threshold 2023/24
With RPI for March in at 9%, the repayment threshold for plan 1 loans will rise to £22,015 from 6 April 2023 (20,195 x 1.09 rounded up). The repayment threshold for plan 2 loans is frozen at £27,295 until 6 April 2025. The postgraduate loan (plan 3) threshold is subject to annual review but in the absence of any…
