Help With Student Loans - HERE!

kne

OK will phone them ASAP and make sure they have worked out a reasonable end date.
Hopefully they have done but I will check as they missed nearly a years worth of payments before! Good job someone is on the ball, lol.

Thankfully the online calculator is working well for me as it roughly agrees with my spreadsheet. ;p

jskcv1 wrote: »

I too have variable repayments this year (ranged from £120 a month up to £310 a month, they took the total paid for this tax year and averaged it out to work out the stop date. It maybe that I need to manually pay a few quid after my last repayment, or they may owe me some. but at least the monthly payments are stopping is my take on it!

The online calcualtor was useless for me, put in this years figures, which was circa 2.1K and last years balance was 2.3K, telling me that they owed me 1.8K in overpayment. Which was complete rubbish. Phoned up and the last payment date of April was more in line with the figures.

I would phone them with you details, as it could take time for the stop to be put on by HMRC, last thing you want is to have them taking too much then dragging their feet to repay it back to you.

Oldernotwiser

matius76 wrote: »

Hi I studied before 1998 and heard my loan will shrink it is very confusing if i don't pay it off when it shrinks will it grow again?

Could you explain what you mean about your loan shrinking? Interest will be accruing on it all the time and it will only get smaller if you are making payments on it.

jskcv1

Oldernotwiser wrote: »

Could you explain what you mean about your loan shrinking? Interest will be accruing on it all the time and it will only get smaller if you are making payments on it.

Pre 1998 loans are to have a negative interest rate, due to them being matched the RPI rate which is down to -0.7% I think I read. So in theory from september this rate will be applied to the loan. Its hardly going to shink the loans significantly, but better then going up I suppose. The best way for them to shrink is to pay the money back!

BruceyBonus

jskcv1 wrote: »

Pre 1998 loans are to have a negative interest rate, due to them being matched the RPI rate which is down to -0.7% I think I read. So in theory from september this rate will be applied to the loan. Its hardly going to shink the loans significantly, but better then going up I suppose. The best way for them to shrink is to pay the money back!

No. RPI is currently 0.0%. The rate used for student loans is next month's RPI rate, so another month to wait.

jerrymind

slcworker wrote: »

Karnam: as u are starting a new course, it depends entirely on your LEA if you are entitled to support again, but there shouldnt be a problem.
You can receive a non-means tested tuition fee Loan of £2700 with £300 in grants if ur income is low. with your situation you can also receive numurous grants in regards to childcare.
We have a calculator on www.studentfinancedirect.co.uk and if you input your details it can assess you and give you a good idea of entitlement.
x x x hope thats off some help.

I tried logging onto your site and came to find a lot more information about students loan. I will be starting a course soon and wanted to know about getting more loans even though I won't be a full-time student. A loan of £2700 with £300 is tempting. I have called up some financial services to enquiry about current account to aid my status.

Looking forward to hear from you again..

ihoran

Are student loans repaid directly from your salary? If so, is this before or after income tax is applied to the salary?

I believe pre-98 courses can't pay out of their salary and must do via Direct Debit. Whilst post-98 courses repay directly out of the wage slip. Am I right?

Oldernotwiser

ihoran wrote: »

Are student loans repaid directly from your salary? If so, is this before or after income tax is applied to the salary?

I believe pre-98 courses can't pay out of their salary and must do via Direct Debit. Whilst post-98 courses repay directly out of the wage slip. Am I right?

Post 1998 Student Loans are paid direct from your salary on on your gross income. As you say, pre 1998 loans are paid by direct debit.

suziheaton

Hey there,

I'm a UK Citizen but I wish to do my Masters Degree of Publishing in Australia... do you know whether there are any loans which I will be eligable for in order to help me with my tuition fees (which will be around AUS $20,000 for the year)?? I've heard of the Career Development Loan but I'm not sure whether this would be applicable to a Publishing Degree? If you have any information at all, it will be a huge help!!!

Thanks - Suzi

Oldernotwiser

suziheaton wrote: »

Hey there,

I'm a UK Citizen but I wish to do my Masters Degree of Publishing in Australia... do you know whether there are any loans which I will be eligable for in order to help me with my tuition fees (which will be around AUS $20,000 for the year)?? I've heard of the Career Development Loan but I'm not sure whether this would be applicable to a Publishing Degree? If you have any information at all, it will be a huge help!!!

Thanks - Suzi

I don't think that a Career Development Loan in the Uk can be used to fund an overseas course. Why not ask the university in Australia about funding?

The_One_Who

suziheaton wrote: »

Hey there,

I'm a UK Citizen but I wish to do my Masters Degree of Publishing in Australia... do you know whether there are any loans which I will be eligable for in order to help me with my tuition fees (which will be around AUS $20,000 for the year)?? I've heard of the Career Development Loan but I'm not sure whether this would be applicable to a Publishing Degree? If you have any information at all, it will be a huge help!!!

Thanks - Suzi

A CDL won't fund a foreign course, as far as I know. The maximum amount is also £8,000 so not much help.

The Australian university should have plenty of information about scholarships or bursaries or any other cost cutting measures including teaching or being a warden in halls of residence.