Help With Student Loans - HERE!

mayb_2

My son did a foundation course at the local sixth form college as part of his degree. This was classed as year O of his degree and he just applied for the loan in the usual way. You will have to put where he is doing his degree and the name of it etc and quote the course codes. Your Local Education Authority is the place to get the application forms from if I remember rightly.

It was a bit of a catch 22 - I could not see why something below degree level taught at 6th form required course fees to be paid - but he could not have a loan unless he paid the course fees as part of the degree. This means that those doing A levels get free tuition and no student loan and those doing a Foundation Course have to pay and can get a student loan.

barkingmadhound

Hi all

I did a teaching PGCE last year and took a £3k student loan out. Just started paying it off this month (their choice, not mine) - I dont earn a lot, and was expecting them to tak about £30 out of my account. They took out £70! I was shocked, £70 less per month is a bit steep - it's a shame we cant work out our own repayment scheme.

I'm now quite out of pocket - I dont need advise as I dont really have any choice, but I fancied a moan. When I was a student first time around in 1992, i dont remember paying that much off a month. I might as well have taken out a loan with my bank :mad: :mad:

mayb_2

I thought if you were studying for any qualification to do with becoming a teacher it was free!

barkingmadhound

mayb wrote: »

I thought if you were studying for any qualification to do with becoming a teacher it was free!

i WISH! The course itself is free, but we all need to live off something!

Quady

Hi,
Can anyone point me to how the interest rate for student loans is determined? Someone said on here it was the RPIX (retail prices index excluding morgages) the March before the announcement in September.

Is this correct and could you point me to where this is written?
Thanks
Alan

justontime

I have just been made redundant and I am not able to seek other employment at present. My son has a disability and supporting him makes it very difficult to fit paid work in as well. I have two daughters, one is going to uni in September and the other is starting 6th Form. We are about to submit claims for Student Grant and EMA, I know that they are calculated on household income for the previous tax year, but would there be any provision to deal with circumstances such as this? My husband (who also has a disability) works but even with extra tax credits our income will be significantly lower. My husband is the girls step father, my first husband (their dad) is dead. My husband pays CSA for his three children and we also have our son to provide for. Any advice would be most welcome.

Sagaris

fairy_dust wrote: »

Hi, i'm now applying for my 3rd year loan 2007-08. Does my mam have to provide evidence of her divorce that was 5 years ago if she presented it the first time? (i am not sure if she did this for last years loan). Or as her circumstances have not changed will it be ok just to say that they have been provided before?
Thanks.

I had 2 daughters at Uni at the same time for 3 out of 4 years - every time they filled out their loan forms I had to re-submit everything to the LEA for them to photocopy and put in their files - then for 2 years running I had to provide documentary evidence to the Student Loans Company too. I got into the habit of keeping the information they required up to date and in a seperate folder, just in case! The LEA need to see all relevant documentation for that year, they won't accept being told that nothing has changed in your financial circumstances - I tried that one too!
Thankfully the elder one finished 2 years ago and the younger one graduates this year! :T :j

noodlebutty

Hi, Could I get some advice please?
I haven't repaid student loans going back to '92 and '93 as I've never earned enough. At the moment I am on Statutory Maternity Pay which is still too low for me to have to pay anything back, but I got married this year and have taken out a mortgage with my husband. Although he earns a good wage we have high mortgage repayments and I am now worrying that his income will be taken into account? Will he be affected by my old loans?

sly_dog_jonah

Quady wrote: »

Hi,
Can anyone point me to how the interest rate for student loans is determined? Someone said on here it was the RPIX (retail prices index excluding morgages) the March before the announcement in September.

Is this correct and could you point me to where this is written?
Thanks
Alan

Compare your interest rates you've been charged with the previous March column of http://www.statistics.gov.uk/downloads/theme_economy/RP04.pdf


I'll save you the bother of looking up the interest rates from previous statements, these are from my financial spreadsheet.

1-Sep-2007 4.8%
1-Sep-2006 2.4%
1-Sep-2005 3.2%
1-Sep-2004 2.6%
1-Sep-2003 3.1%
1-Sep-2002 1.3%
1-Sep-2001 2.3%
1-Sep-2000 2.6%
1-Sep-1999 2.1%
1-Sep-1998 3.5%

mayb_2

noodlebutty - as the student loan is taken directly out of an individuals wages once they earn over £15000 per year - I don't see how they can take anyone elses income in to account when deducting them - not that anything would suprise me. I am sure someone will post if this is wrong.