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Difference between Plan 5 and Plan 2 for loan repayments
My daughter did her first degree between 2019 and 2022. She then worked in low income jobs until 2024, making no loan repayments to her Plan 2 loan. In 2024 she started a full time PGCE course which was funded under Plan 5 loan for tuition fee only (no living expenses required.) She is now about to start a teaching job…
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Student loan overpayment and over the threshold
Hello, looking for some advice or trying to find anyone who has been in a similar position. Following Martin Lewis’ advice I managed to get a refund for a few of my tax years where I was under the annual threshold. However I am having issues for two of the years where I was over the threshold but they still took too much.…
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Mortgage-style loan query
I have 3 old mortgage-style loans. Two are with Erudio and 1 with Honours. I've had repeated issues over the years including two upheld formal complaints against them so my confidence in these companies is less than zero. I was told by Erudio last year that all my loans would expire on 7th October 2025. I have been in…
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Student Loan Plan 2 Repayments Plan Help
Student Loan Repayment – Advice Needed * Age: 24, graduated in 2022 * Loan balance: £49,000 * Current Interest rate on student loan: 3.2% * Interest added so far: £886 * Salary repayments made thus far: £1,600 * Current income: ~£50,000/year (likely to increase annually over the next 20+ years) * Sector: Account…
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Student loan income calculation
so is your annual salary for SL payments on plan 2 (£28470) including state pension + private pension or should you add savings interest to this?
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Postgrad loan max less than cost of tuition plus rent?
Son is tellling me the cost of tuition plus rent is about £3k more than the max loan he gets.... Doesn't seem right? What about food etc? He's got Aspergers - did v well as an undergrad etc but sometimes we need to check things. Like this which he suddenly thought to mention!
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Student Loan Company trying to reclaim overpayment following AHRC funding
Hi there hope someone can advise! I am a PhD student currently nearly 2 years into a part-time 6 year course. I requested a student loan to cover tuition fees etc before I started the course in Sept 2023. I applied to get AHRC funding for my last 4 years (or 2 out of 3 full-time equivalent) and was lucky enough to get it.…
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New student daily travel in London
Good afternoon. I've read a few guides, etc but some conflicting info sometimes on the above. So my daughter has digs in zone 1 and her Uni is also zone 1. About half an hour walk on a good day or a few tube stops. She already has an 18-25 National Railcard and I told her to buy an 18+ student oyster card. I believe you…
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Student loan - Pay off Plan 2?
Hello All, I've been looking at my student loan payments again recently and hadn't realised about the interest changes and am now seriously considering paying off my Plan 2, and am looking for advise. Plan 1 (4.3%) - £5600 left (which has gone up from £5530 last year but I assume because more is going to the higher…
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Student Loan Process When Moving Abroad
I have a student loan that I am never going to be able to pay back. This is not by choice, I just can't afford to in my current situation at the time of writing this (yes I am working, no I cant afford to live in a place of my own). The interest is going up and it's not stopping. I have a 3 year, long distance partner who…
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Student loans 1995-99
I took out I think 4 student loans 1995/96 1996/97 1997/98 1998/99. I have not had any letters or correspondence from any loan companies for a decade, the loans are not marked on any credit files. I am now 50. I hadn’t finished paying loans back and think last payment was c a decade ago - from memory there may be £4k…
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Student Bank Account Second Year Uni Studen
My daughter is 19 & just about to start the second year of her degree. She didn't open a student account last year & is looking to open one now however we're finding that alot of banks won't open student accounts for students that aren't in their first year. She's currently got a Santander current account. Santander will…
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Unsure if I should overpay
Hi, I’m in England and I was in University between 2002-2005. I still have £11500 left on my loan; I’m on plan 1. I went back to uni to do a PGCE in 2008 and I actually can’t remember what loan I got at the time. I think the course was paid for as there was a teacher shortage, and I know I also got a grant, but I think I…
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New Plan 5 Maintence Loan - Can we reduce the amount?
My daughter is going to Uni next month (September 2025). She will be a home student and travel in on the 30 minute train. She has been offered the £3907 Maintence loan... we have tried working out how much of this she will acutally need. The train is £192 a month (going 4 days a week) or £240 a month going 5 times a week.…
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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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Is it still 9% of earnings over the threshold when working overseas?
I know that the threshold changes by country (e.g. in the US it is over £34,165 at the moment). If earning over this threshold (taking into account the exchange rate that they use), e.g. £36,165 for arguments sake. Is the repayment amount still 9% of the difference, so 9% of £2,000?
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Do Student Loan refunds affect my Tax Return?
Hi, I have been in touch with the SLC about getting any refunds I'm due and I was due about £800 back across 5 years where I had earned enough some months but not others. I'm now wondering how this impacts my tax return. I have done a mixture of PAYE and self-employment so I need to fill in a Self-Assessment form. Is there…
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Student loan repayment and retirement income - how do they work together / impact on each other?
Hello Forum members I've just completed my university studies, and my student loan becomes repayable in April 2026. My first question - does my private pension count as income for the purposes of repayment threshold payments, please? BTW - I'm in my late 50s and receive monthly pension payments, which are currently below…
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Paid in full
Can I check in any way if I’ve over paid even though it has been paid in full for a few years?
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Should I pay for my daughter's PGCE
Hi, my daughter has one more year of her UG degree (re-did year one so 4th year) and wants to do a PGCE after. She will be on repayment plan 2 for her degree but if she takes a loan for the PGCE this will be plan 5. As the latter will kick in to be paid sooner and paid for 40 years (unless she earns less than £25,000, I…
