Student Loan Agreement....

KlingOnTight

Hi there...

I have seen this rumor floating about and was wondering what truth their is... I phoned to check, and apparently, the SLC have lost (they actually said destroyed) the original credit agreement which was supposedly signed by me...

Im not sure i ever received my copy...

Where does this leave us as neither of us have any proof that i ever received money and they keep asking me for it...

Surely no signature, no money right? :j:j:j:j

Cheers

farso

Hi

Not too sure, cant imagine this thing coming around too often. I think probably from a "to the letter of the law" perspective, you may be right in that you shouldnt have to pay back your loan.

In reality, it would probably be taken to court, where a judge would rule what is fair and if he thinks you would have signed the agreement at some point and it has simply been destroyed now.

Might work, but its if you want to risk paying back your student loan plus solicitors costs.

Worth the gamble?? Just leave the country and dont tell them, probably easier.

Oldernotwiser

farso wrote: »

Hi

Worth the gamble?? Just leave the country and dont tell them, probably easier.

That is very, very poor advice!

surfcat

KlingOnTight wrote: »

Hi there...

I have seen this rumor floating about and was wondering what truth their is... I phoned to check, and apparently, the SLC have lost (they actually said destroyed) the original credit agreement which was supposedly signed by me...

Im not sure i ever received my copy...

Where does this leave us as neither of us have any proof that i ever received money and they keep asking me for it...

Surely no signature, no money right? :j:j:j:j

Cheers

Which part of my taxes for schools and hospitals should be diverted to clearing your loan?

MrsManda

If they're asking for the money back (presumably through your salary?) then there will be a record somewhere. It may not be the original credit agreement, but the simple fact that you have recieved money from them means you have entered an agreement to pay it back.
All credit agreements for student loans are the same for each student getting money as a particular time so there'll be no way in a court to argue the terms of the contract.

I think it's highly unlikely that a court would rule in your favour, you received the money, (there will be bank records etc...), there's a record somewhere which is telling the SLC to claim the money back (HMRC probably have some record as well as the SLC), and in order to get the money in the first place you must've signed an agreement.

Oh and have you kept the SLC upto date with changes of address?

Taiko

You have to enter into a contract with The Secretary of State in order to receive support. This is why no loan is actually paid without a signature. That part is written into The Student Support Regulations, so there is no exemption from this and no way to get around it. By receiving the loan, you have to have signed.

farso

surfcat wrote: »

Which part of my taxes for schools and hospitals should be diverted to clearing your loan?

The remainder after clearing the banks problems. Dont lecture me about where taxes go, ive paid mine too and not seen any back.

Oldernotwiser

farso wrote: »

Dont lecture me about where taxes go, ive paid mine too and not seen any back.

Nobody gets taxes back; why should you?

farso

Oldernotwiser wrote: »

Nobody gets taxes back; why should you?

Older and clearly no wiser... People DO get taxes back, tax credits, council houses, job seekers, child benefits, needless uses of public services. Take your pick, theres probably a million more.

anitlom

I was under the impression no signed agreement for a loan, then the loan becomes unenforceable. I assume that it was the same for student loans?

Taiko

In The Student Support Regulations Part 6 Chapter 1 Paragraph 63(6) and also 64(7) is the relevent bit - To receive a loan for living costs, a current system student must enter into a contract with the Secretary of State.

Loans can only be received upon signing a declaration and the university confirming a student is in attendance. It's completely enforceable.

http://www.opsi.gov.uk/si/si2008/uksi_20080529_en_7#pt6-ch1-l1g62