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No contact from student loan company
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flower7
Posts: 167 Forumite
A bit of advice needed for a friend please.
She started Uni in 1998 her Uni fees were paid in full by the LEA and she was given a small grant.
In 1999 her father died and she had no income etc she was re accessed again and the LEA said it would still pay her Uni fees.
They also said she could have a grant to live off...then the rules changed and she was offered a student loan of £3,250.
In September 2001 she had the first instalment of her loan and subsequent payments etc
She has not moved since applying for the student loan.
She has never earned over £15,0000 a year, she has not changed banks or accounts.
She has never heard from the student loan company, she just assumed that she hadn't earnt enough for them to contact her.
She was chatting to an old Uni friend the other day who said even though she hasn't been paying her student loan off yet she still gets statements every year.
My friend was told by the LEA that due to her circumstances if she didn't earn enough to pay back the student loan in five years she would not have to pay it back, but has heard other things since.
Should she try and contact the student loan company or her old LEA?
Will she have to pay it back straight away or will it have been written off?
Any advice for her would be great, thankyou.
She started Uni in 1998 her Uni fees were paid in full by the LEA and she was given a small grant.
In 1999 her father died and she had no income etc she was re accessed again and the LEA said it would still pay her Uni fees.
They also said she could have a grant to live off...then the rules changed and she was offered a student loan of £3,250.
In September 2001 she had the first instalment of her loan and subsequent payments etc
She has not moved since applying for the student loan.
She has never earned over £15,0000 a year, she has not changed banks or accounts.
She has never heard from the student loan company, she just assumed that she hadn't earnt enough for them to contact her.
She was chatting to an old Uni friend the other day who said even though she hasn't been paying her student loan off yet she still gets statements every year.
My friend was told by the LEA that due to her circumstances if she didn't earn enough to pay back the student loan in five years she would not have to pay it back, but has heard other things since.
Should she try and contact the student loan company or her old LEA?
Will she have to pay it back straight away or will it have been written off?
Any advice for her would be great, thankyou.
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Comments
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A bit of advice needed for a friend please.
She started Uni in 1998 her Uni fees were paid in full by the LEA and she was given a small grant.
In 1999 her father died and she had no income etc she was re accessed again and the LEA said it would still pay her Uni fees.
They also said she could have a grant to live off...then the rules changed and she was offered a student loan of £3,250.
In September 2001 she had the first instalment of her loan and subsequent payments etc
She has not moved since applying for the student loan.
She has never earned over £15,0000 a year, she has not changed banks or accounts.
She has never heard from the student loan company, she just assumed that she hadn't earnt enough for them to contact her.
She was chatting to an old Uni friend the other day who said even though she hasn't been paying her student loan off yet she still gets statements every year.
My friend was told by the LEA that due to her circumstances if she didn't earn enough to pay back the student loan in five years she would not have to pay it back, but has heard other things since.
Should she try and contact the student loan company or her old LEA?
Will she have to pay it back straight away or will it have been written off?
Any advice for her would be great, thankyou.
If she's never earned over £15,000 then she won't owe anything although her loan will have been accruing interest since she took it out, so will be much higher now. I have never heard of this 5 year rule and think that she may have misheard; loans from this period are wiped out after 25 years. She should contact the SLC for a statement of her account but needn't worry about having to make any payments at the moment.0 -
I'm afraid I'm not too sure, however if she hasn't been paying so far then I can't see why she'd be forced to pay the cash in one lump sum. They cannot do this. By the way, I'm sorry to hitch this thread but I'm having a problem with my student loans/grants. It has said that the payment was "submitted" for a few days and today I checked my student loan company account and noticed that the status had changed from "submitted" to "paid". However, I checked my bank account and it is not in. Basically, I was just wondering if money that has been paid into an account can be reversed/withdrawn by the SLC after it is initially transferred in? Thanks, and I hope you get the right answers0
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I'm afraid I'm not too sure, however if she hasn't been paying so far then I can't see why she'd be forced to pay the cash in one lump sum. They cannot do this. By the way, I'm sorry to hitch this thread but I'm having a problem with my student loans/grants. It has said that the payment was "submitted" for a few days and today I checked my student loan company account and noticed that the status had changed from "submitted" to "paid". However, I checked my bank account and it is not in. Basically, I was just wondering if money that has been paid into an account can be reversed/withdrawn by the SLC after it is initially transferred in? Thanks, and I hope you get the right answers
It is unlikely to show in your account today Sunday, but will be available tomorrow. It has been paid into your account.0
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