Help With Student Loans - HERE!

Siabod_2

Hi, I graduated way back in 1999 and only started paying back my loan couple of years ago... in this time I've had many errors from deferment and paperwork etc. and have been charged up to £250 on top of my repayments for letters (some 7 days apart from each other). I have tried protesting against this many times to no avail. I'm sure there's a procedure to getting most of these excessive charges (e.g. £20 for an automated letter!) waivered - similar to the bank charges fiasco. What would be the best way to go about this?

Thanks

Horasio

I know absolutely nothing about student loans.

What is the rate of interest? Do you get exempt from any means tested items such as dentist treatment when you leave home whilst at full time uni?

How much do people tend to borrow? What happens if you borrow and don't spend it? Does every student tend to get one? Are there benefits in getting one?

Many thanks

tripled

This site has a wealth of information: Student Support Direct

If you borrow it and don't spend it you have to give the surplus to me.

vfairbrass

I'm a parent of one child currently in her first year at Uni (got in before the fees went up and has almost the full amount of student loan) and one due to go in 18 months. Currently both parents have income but I would like to retire early and cannot take my pension for 5 years. Family income would be 16000 after tax. What I cannot work out from the student finance website is if my retiring would benefit either of my children at all as regards student loans/fees etc.
Can you advise?

freebie_fairy

I have student debts of £6,000 which I am paying off at £255 a month. I have enough savings to pay off £6,000 but I have no income and I am likely to have to move into private accommodation soon and rely on my savings to pay for rent, bills, food etc... until I get a job. Should I hold off paying my debt until I have secure employment? I have put £1000 in the loan account before but the bank still drip fed the money off the loan in the monthly payments. When I have a full time job should I just pay the bank the full £6,000 and clear it?

carmen6grace

hi i am a first year student at university in scotland and didnt apply for the student loan. currently i dont need the extra money but i am thinking of taking out the loan and investing it for the future. im not sure if the interest i make from my bank account will be greater than the amount of interest i have to eventually pay off. im not very good with numbers or general financial stuff actually. just cant get my head round it. what do you advise? is it worth it? thanks for any help

cutesee

Is there an age or an amount of time that would cancel the student loan? I was once told that if you get to 50 and have paid none of it back, you are exempt. Also heard that if you hadnt been able to pay up to 5 years after you graduate you are then exempt. Cheers for any info.

2pinkgiraffes

Hi

I have recently recieved my deferral renewal letter through from the SLC, I graduated in 2002 with 5 student loans and have deferred ever since.

Currently I am only working part time and as such am well below the threshold for repayment. However......

Since my last deferment I have got married, do I have to declare my husbands income? The form is very unclear but I do notice there is a box for "3rd party support"

I don't want to be fraudulent but at the same time I don't want to start paying back my loans just yet either! Also these are my debts not my husbands and don't see why his money should be used to pay them back.......

Any ideas anyone?

gravity

I have been carefully tracking the amount I had to pay off on my student loan (it has been many years paying it all off). I worked out that my last payment should have been January and would be approximately £50. To my suprise the full amount was deducted in January.

I spoke to my hr departement and the student loans company. Apparently the slc don't know when a loan is paid until they receive the end of year figures from the inland revenue in april. They said they would issue a stop notice to the inland revenue but this could take upto 40 days to take effect. Once the slc have the figures from the inland revenue they will then reimburse any overpayments.

This seems a quite ridiculous situation and I know find I will be overpaying nearly £500 and I don't yet know how quickly I can get this money back. I feel sorry for anyone that say made their last payment in may as unless they kept accurate track of the loan they could end up paying a large number of months over their loan.

Is there anything I can do about this? Can i try to claim extra money back for interest lost / inconvenience caused?

tessathailand

Hello

I am 26 years old and studying part time with Open University. I work full time, am married and have a young son. I have just bought my first house and am looking for a loan so that I can furnish it etc. Would I be eligible for a student loan? I am not eligible for any grants etc but I thought a loan might be different as I pay this one back!

Thank you