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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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Council Tax liability for Graduating students
My son has just been hit with a £150 a month council tax bill ( for a studio in middleborough like how can it be that much ?) They are claiming that his course finished on the 16th of May even though he doesnt graduate until the 16th July. He has no income , he is living on the remainder of his student loan whilst be waits…
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student doing a Year in Industry Work Placement as part of degree - still counted as a student?
My son is doing a degree at university which includes the option of a 12 month year in industry work placement between the 2nd and 3rd year of the degree. Fortunately he has just managed to secure an industry placement which starts in mid-August so we are now trying to find him accommodation near the placement. The…
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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…
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Help understanding APR of student loans - Plan 5
Can someone explain how the interest rate for Student Loans (Plan 5) is calculated. On the Gov website (educationhub blog gov uk/2023/08/01/how-are-student-loans-changing-everything-you-need-to-know/) it says: "The interest rate is set at the start of each academic year and is linked to the rate of inflation as measured by…
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Student Loan - Unable to access account
I received a letter from SLC telling me to update my employment status. They've always previously send me a paper form to do this - but this time, they're forcing me to do it online. The problem is that I am unable to access my online account. Ever since they moved from their "studentloanrepayment" website to the "gov.uk"…
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Guide discussion: Should I repay my post-2012 student loan?
This is the discussion area for the Should I repay my post-2012 student loan? guide. Click reply below to discuss. If you haven’t already, join the forum to reply.
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More than one student account?
Hi! My son has a Santander 123 current account that we have to swap to a student account before uni. He doesn't want to use this as his main account, just a 'student finance holding account' and then transfer money each month to help with budgeting. Can he also open another student account to do this. He has a UCAS code…
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Finance of studying abroad
Hello, I am due to spend a year abroad in Spain and I was wondering what the best way to manage my money would be? Is it best to open a local bank account? I am thinking that in case someone needs to pay me in euros, or if it is better to be spending money in euros instead of using a UK bank account (I am currently using…
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Universal credit situation during extension of a Masters research degree
Trying to assist our daughter. She is about to start the final year of her first degree, and wants to follow it up with a masters degree. She is a single mum with two young children, so receives universal credit, as well as child benefits (cannot recall which). She is considering doing a research MRes, which is a 12 month…
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Over 50s and student loans
I see there's a thread for the over 60s here, but I think one for the over 50s would also be beneficial. It sounds as if student loans may be becoming harder to get for the over 60s. So that makes me think I should start a course now, since I'm in my mid 50s. I already have a degree, but did not have a student loan for it.…
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Student finance rejected.
My daughter completed a year at dance university. However, she decided it wasn't for her. She wanted to leave after 6 months as she was going through some mental issues but was persuaded by tutor to complete the year of a 3 year course. She now knows what mental issue was as she has recently been diagnosed with ADHD.…
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Honours Student Loans
Hello! I wonder if anyone can help. Today, I received a letter from the HSL titled 'Important - Notice of a change to Collection Services'. They are informing me that, as of now, I am 'not eligible for the following benefits associated with the original agreement: 1. The right to apply for deferment 2. The right to have…
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Student loan debt collectors
My son was at uni just pre covid and unfortunately that and mental health issues meant he didn't complete his studies. He hasn't worked much since and certainly not enough to earn the required threshold. He has now received letters from avantus for the debt and asking mum for advice. Unfortunately I think due to his MH he…
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Over 60’s loss of student loans.
Hi, as I’m 63, am I right in thinking from 2025 I will not have access to student finance for tuition fees and that there would be little point in starting a course before the changes in January as I wouldn’t get funding for years two and three? I had hoped to do an OU access module and then three years of Accounting,…
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Council tax - Student exemption - summer holidays
I've been claiming a single person discount for a couple of years. I have two student 'children' at university. When I first started claiming, the youngest was between A'levels and university. Recently, due to some irregularities with the paperwork, the council removed my single person discount for the whole period and…
