Help With Student Loans - HERE!

the_devil_made_me_do_it

AddieH wrote: »

The Special Support Grant is income assessed (means-tested) and is available if, during the academic year, they are 'a prescribed person' under the Income Support or Housing Benefit regulations. This will generally be single parents, other student parents if they have a partner who is also a student, and students with qualifying disabilities.

SLC will I would expect need proof that your friend is receiving these benefits, which I suspect shouldn't be that difficult?

no not difficult at all. He claimes IB, housing benefit and council tax benefit.

He just wants to get his finances sorted sooner rather than later.

the_devil_made_me_do_it

He has nearly completed the online application form and has given details of income. However, the form has never asked him to choose between the maintanence grant or sepcial support grant, how does it get deceided ect???

mazta

hi all

i took out a loan 2001-2002, got 5k, dropped out, havnt heard anything since probabyl 2003, i've worked various jobs, since then, earning sometimes 800-1200 a month after tax,

i've never made a payment, no money was ever deducted, its now 2007, and i havnt heard from them in years, self employed now for 3 years,

what should i do, will the debt be written off, have they forgotten,

what does anyone think i should do?

cheers

sly_dog_jonah

Bad news for those with student loans, the interest rate will be doubling from 2.4% to 4.8% on 1st September 2007. The interest rate is governed by the RPI figure for the previous March, and these figures out today show that the interest rate will leap 2.4%.

http://www.statistics.gov.uk/cci/nugget.asp?id=19

This means all students and graduates will be spending more time paying off their loans, but of course they are still much cheaper than commercial loans.

SemperFi

I was at uni 7 or 8 years ago. Can't for the life of me find any documentation regarding my loan. Is there a central number to find someone to talk to about it? Are they all dealt with by the same company now?

Thanks in advance

disconcert

Is it true that payments through your employer only get batched up and put into your slc account at the end of the year, therefore making your loan accumulate more interest than is necessary?

AddieH

disconcert wrote: »

Is it true that payments through your employer only get batched up and put into your slc account at the end of the year, therefore making your loan accumulate more interest than is necessary?

See here:

http://national-student.co.uk/national_news/pointless_petition.htm

AddieH

I was at uni 7 or 8 years ago. Can't for the life of me find any documentation regarding my loan. Is there a central number to find someone to talk to about it? Are they all dealt with by the same company now?

Thanks in advance

http://www.slc.co.uk/guidance/customer_section.html

AddieH

mazta wrote: »

hi all

i took out a loan 2001-2002, got 5k, dropped out, havnt heard anything since probabyl 2003, i've worked various jobs, since then, earning sometimes 800-1200 a month after tax,

i've never made a payment, no money was ever deducted, its now 2007, and i havnt heard from them in years, self employed now for 3 years,

what should i do, will the debt be written off, have they forgotten,

what does anyone think i should do?

cheers

No the debt will not be written off, you loan will only be written off either when you are 65, die or become permanently disabled and unfit to work. It's likely that your previous jobs if they were PAYE did not pay enough to trigger repayment which is £15,000 a year.

Now that you are self employed you should follow the guidance here:

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingFrom1998/DG_10034871

AddieH

the_devil_made_me_do_it wrote: »

He has nearly completed the online application form and has given details of income. However, the form has never asked him to choose between the maintanence grant or sepcial support grant, how does it get deceided ect???

As I remember there's a box near the start of the form which asks if you are in receipt of benefits, I would have thought this would be the trigger for the SSG, but don't know for sure.