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Can I student loan be changed once awarded?
I'm asking this on behalf of my godson. He gets roughly 7k in student maintenance loan. His parents are divorced and he has lived with just his mum since he was 3. His dad stopped paying any support for him in 2020 but when my godson did the student loan application he declared the incomes of his mum, his dad and his dad's…
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Apprenticeship and BA Hons Degree Together
Hi all, Not sure if this is the right category. I just have a quick question that I'm wondering about regarding 2 courses. I am currently completing an Apprenticeship and it will be finished in November (hopefully sooner) I have also signed up to complete a BA Hons Degree which starts in October (this isn't for work, just…
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Placement year possibly becoming a 3rd year of study
My son is planning to do a placement year from September this year (25/26) and complete his final year next year (26/27). He will be applying for his reduced tuition loan soon and no maintenance loan. But what happens if he can’t get a placement and decides to do his 3rd year instead this year. If he’s already applied for…
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Should I make a lump sum repayment on my Plan 2 student loan as a new graduate?
Hi all, I'm about to qualify as a dentist and will be on Plan 2 for student loans. My current financial situation: * Student loan balance: around £90,000 * Savings: about £40,000 (currently just in a 4.3% cash ISA) * Starting salary: approx. £50,000 then jumps to £70,000 in the second year of qualifying I understand that…
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Student Loan Plan2 rates
Is there a way to see what the rates have been over the years? Background: We have been taking a look at our son's account (with him) - he paid off his PostGrad Loan (PGL - which was attracting 7.2% interest 😳), & he had a letter telling him he was due a refund. The PGL shows -£1,346.79, so something has gone off - he paid…
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Pre-registration masters course - student finance help and advice
Hi everyone I would really appreciate help and advice on this! I completed an undergraduate degree and got my student loans from Student Finance Wales. I did my degree in England. I am now wanting to do a masters degree (pre registration) in Speech and Language Therapy in a university in England. This is eligible for…
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Student Loan or Bank of Parents
We are considering the option of our daughter getting a Maintenance Loan or us funding her university and she pays us back interest free rather than the 9% she would have to pay interest on the loan. Seeing them come out of uni with a £60 grand debt is so scary. There is also the factor that they don't pay any back until…
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Cannot access student finance acct online
Hey everyone. I had two student loans: plan 1 and plan 2. Plan 2 has been paid off, and a balance remains on plan 1.however, since then I've been unable to access my repayment account online. I can log in, but a message pops up saying I cannot manage My account online. I've been in touch with slc and they said to try a…
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Already on Plan 2, should I take out an extra Plan 5 loan?
Hello All,I'm trying to work out if I should take out an extra loan which I'm entitled to: As it stands I have a: Plan 2 loan for entered in to repayments started April 2020 (due to covid etc... have not year earned enough to hit the threshold so paid back £0 so far) I left uni without completing my degree with one year…
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Plan 2 Student Loan Repayments
A very Baby-Boomer problem. Our daughter, earning £75k pa with an expectation of a 4% annual bonus has a Plan 2 debt of about £45k. We could afford to pay down at least £35k of this and at the same time she would pay down the balance using some of her savings, leaving her debt free and able to top up her pension. We paid…
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How and how much financial support to give our children through university and beyond
Good morning everyone This is the beginning of year 2024. I am not sure how many parents out there in the forum that are battling through cost of living crisis whilst working out how and how much to help our children through university and beyond. I am a single earner of the family. My son is going to university from this…
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Plan 1 - date debt gets written off
Hi, I’m trying to understand when my Plan 1 student loan will be written off to determine if I should try and overpay or leave it as it is. The .GOV and MSE website says: The loans for your course will be written off 25 years after the April you were first due to repay.” Does this mean the April after I first reached the…
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Mortgage Style Loans
I'm in Scotland. I have 5 mortgage style student loans, obtained each year from 1996-2000. The government sold these off, the 96-98 loans to lender1 and the 99-00 to lender2. I am currently making repayments but later this year they should be considered for write off as the last loan will have been issued 25 years…
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student loans previous study rule
hving read through too many student loan threads iv become increasingly worried about my own situation and was wondering if anyone can clarify its regarding the Previous study rule for student loan fees. { 3+1- previous study) when did this rule start? my own situation is that i completed a degree from 1999- 2002 under the…
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Student finance - How much should I be paying?
Hi all, To prefix this: sorry. There's going to be a few numbers in here that may require some further context. Reach out to me if required and I can clarify, but I'll give no personally identifiable info for obvious reasons. Anyway, I'm wondering if I'm paying too much for a Plan 1 pre-2012 Student Finance England loan.…
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Student Loan sizeable deduction from pay statement
I have recently been given a one off payment from work that is taxable, and I have paid an incredible amount of it to student loan. Can you request a refund for a one off payment, as it isn't a true reflection of what you earn?
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Maintenance Loan for 25yr old - questions
We have a “child” living at home who is thinking of going to university for first time this autumn. These are our questions, we’ve read the guidance but it seems very ambiguous by what is referred to as household income. 1) at 25 - even though living at home is the parent’s income disregarded? 1.1) he’ll be 25 on September…
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Parent Savings Interest Towards Student Loan Application
I have searched everywhere for a simple answer, without success - Is parental savings interest included in the household income assessment for student loans? My 2023/2024 household income (which is the one they asked for on the application) consisted of gross salary of £15,638 + rental income of £8400 = £24,038. My…
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Repaying student loans early? Or just clear interest with salary deductions?
So, I currently have about 18k in student loan debt on plan 2, and earning a comfortable(ish) salary of £44k a year. after checking my student loan account i noticed that even on my salary i am barely covering the annual interest on my loan, and never really paying back the balance. I'm in a position where i can save about…
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AI for proof reading
I have a long paper (about 80K words). Has anyone got any advice about which AI could proof read it?
