Second Student Loan or Not?

CLAPTON

Dave_PGCE wrote: »

Does anyone know if the amount of Student loan you owe has any affect on how much you pay back per month. For example, if i owe £15000 and earn £20000 a year and my friend owe's £10000 and earns the same, £20000 will we pay the same back each month?

you pay 9% of your salary over 15,000 per annmum (1250 per month)

Dave_PGCE

I can get a £4000 bursary as well as a grant of £3000 but with fee's of £3250 and rent for the year that wont be enough.

fiendishly

Oh right, shame, I got £9000 (maths) much more manageable

hazel09

fiendishly wrote: »

How much bursary will you get for your PGCE? That might make a big difference to whether you decide to take the loan or not.

There is n't any bursary for PGCE!
First of all, The SLC will only pay for your Undergraduate Course and not for the Post Graduate Course. And these are assessed on parental income or your own. You can opt out for for the"Non-Income Assessment" when you apply to the Student Loan Company,your choice.

However, If you have already taken the loan from the SLC in the past, they will ONLY offer you second degree UnderGradaute course loan if

1. You are under 25 and
2. Your parental income in below than the threshold

(this is for the "Parental Income Assessed Candidates)
Remember,there is not Bursury or any grant with the second loan undergraduate loan. You will only the loan from SLC once you have been assessed as mentioned above.
Different rules apply for the NHS related undergraduate courses.

hazel

fiendishly

hazel09 wrote: »

There is n't any bursary for PGCE!
First of all, The SLC will only pay for your Undergraduate Course and not for the Post Graduate Course. And these are assessed on parental income or your own. You can opt out for for the"Non-Income Assessment" when you apply to the Student Loan Company,your choice.

However, If you have already taken the loan from the SLC in the past, they will ONLY offer you second degree UnderGradaute course loan if

1. You are under 25 and
2. Your parental income in below than the threshold

(this is for the "Parental Income Assessed Candidates)
Remember,there is not Bursury or any grant with the second loan undergraduate loan. You will only the loan from SLC once you have been assessed as mentioned above.
Different rules apply for the NHS related undergraduate courses.

hazel

all rubbish, I'm afraid, minimum PGCE bursary is £4000, as I said, I got £9000. The loan entitlements are the same as for a first undergraduate course.

Sol00

PGCE is different, Hazel. You can get funding for the fees and costs of living.