Student Loans discussion

Idiophreak

gazat wrote: »

The question is, is the method of advising students on the matter of a financial liability sufficient to ensure that they are fully informed.

Nobody has a *duty* to provide students with financial advice, though. If students want financial advice, they can go to a registered IFA and get their opinion on it. And what will they say? "the student loan tracks with inflation, gives you payment breaks when you're unemployed and takes a very small, or non existant payment from those on low wages". Exactly the same as anyone else.

If you were concerned at the time about whether the RPI, CPI etc was used, you could have researched it, read the agreement you signed, or...gone to a IFA.

You can't take a guidance councellor/teacher/parent's advice on what financial product to take, apply for the thing, agree to the T&Cs, then claim that the *provider of the product* missold you. It's just wacky.

melancholly

gazat wrote: »

I would still like to hear from anyone who feels that they may have been missold their student loan(or received bad advice from someone reasonably expected to be in a position of authority). If you would prefer to msg me privately I could well understand.

do you think maybe the problem is that you are really just on your own feeling hard done by in this situation? everyone knows you need money to go to uni and that the student loan is the best way to get it - perhaps the interest rate isn't as low as it could be and the SLC can mess things up, but all advice has to be to take that loan out rather than going to a bank for a commerical loan. or then again, maybe you had enough support from your familiy and didn't need a loan at all - but that was your choice to take.

i can't see where you're going with this, other than just having an attitude of 'i have no sense of personal responsibility and want to pass the buck'. and quite frankly, i think you should be ashamed of yourself.

dmg24

gazat has PM'ed me to say that he will not answer my questions (but will speak to me privately? I think he loves me! :T ). So if anybody wants to ask the same questions again, maybe he'll answer them from somebody else instead?

melancholly

guess the song from the lyrics:

and I don't know if you are illusion,
don't know if I see truth,
but you are something that I must believe in,
and you are there when I reach out for you.


lalalala
singing songs in my head now lol

gazat

IP - I think you misunderstand what a duty of care is. Its a legal term. A duty of care is a legal obligation imposed on an individual requiring that they adhere to a reasonable standard of care while performing any acts that could foreseeably harm others.
To be honest it gets a bit complicated and was not really the point I was wanting to focus on.
I generally agree with everything else you said though

Idiophreak

gazat wrote: »

IP - I think you misunderstand what a duty of care is. Its a legal term. A duty of care is a legal obligation imposed on an individual requiring that they adhere to a reasonable standard of care while performing any acts that could foreseeably harm others.

I studied law modules at uni, so I know what you're on about...
But even if you can prove there's a duty of care established for people at schools to provide sound financial advice to their students (which, tbh, I think is at best shakey ground), you've yet to identify a single way in which you were "harmed" by their "violation" of this duty...

I'm also, like dmg interested to hear about these sharp sale tactics you refer to...considering the SLC don't have salesmen, I don't see why it would be in anyone's interests to pressure people into taking the loan...

gazat

IP - again, a very good point which I will have to think on. I feel like we may be getting somewhere.

The sharp tactics is something one or two of my freinds mentioned when we were discussing it the other day but did not really delve into any further. I will ask the specifics

My case was only really to illustrate, so that if it rang bells with any others they might wish to come forward.

Oldernotwiser

dmg24 wrote: »

gazat has PM'ed me to say that he will not answer my questions (but will speak to me privately? I think he loves me! :T ). So if anybody wants to ask the same questions again, maybe he'll answer them from somebody else instead?

Well, that won't be me then; he's sent me a pm accusing me of trying to stiffle(sp) the debate. Come on guys, keep stiffling!

gazat

The PM was meant to be a discrete way of, well, talking to you privately.
Why don't I post the entire message - spelling mistakes and all...

ONW - I am trying to open up a debte here, not weasel out of repaying a loan.
I'm not trying to criticise you personally and apologise if the last msg came across that way.
I admit, I don't know an awful lot about careers advising and under the same principles as my previous post, why would I - I'm not one.
Please don't stiffle the discussion here by drawing it down an irrelevant path

melancholly

there is no 'discussion' - you can't accuse anyone of mis-selling in this situation.

firstly - who on earth are you accusing of mis-selling?
secondly - what should they have sold you which would have been more fit for purpose?!

disagreeing with you is not stiffling the debate.....