Help With Student Loans - HERE!

Awec

bluebindy123 wrote: »

Hi I would like some information please. I will be applying for a bursary for my daughter soon to live in at college through the L.E.A as before it was done throught the college themselves. Do they need the same information as before or do they also need bank account statements etc. Also what happens when a child turns 19 at college aswe wont get any benefits from the government, what can they claim themselves. We are on a low income and in the past got a bursary for most cost. She also got full EMA, now this has stopped whart are they supposed to live on, as I am not in the position to be able to support her really. Thanks in advance to anyone who can help.

Without trying to sound harsh, she's supposed to get a part time job.

If your daughter is going to start college, she'll have plenty of time to work around her studies.

nlh1309

Hi

I'm after some advice...

I have a post 98 student loan and have been paying back for about 8 years through PAYE. I am moving abroad and have looked into how to repay whilst abroad. The website advises that I have to provide evidence of my income. I am going to be working in Hong Kong and you have to pay back 9% above £9,000 (they seem to think HK is cheap to live when clearly it's not). Anyway this would mean I'd be paying back more than £400 a month. I would find this very hard as rent is so much and I will still be paying various things back in the UK.

The website also says that if you do not provide evidence you have to pay a fixed amount - about £150 a month which seems much more reasonable.

I want to continue paying and get it paid off but £400 odd seems an awful lot.

So my Q is- do you HAVE to provide evidence of how much you are earning?? Has anyone had any experience of this?

Thank you.

Oldernotwiser

By my calculations, if you have to be paying back £5,000 pa you'll need to be earning about £63,000; are you sure you've done the calculation correctly?

tman16

I started uni in Oct 2009 and have taken out a loan since then. Is it possible to pay back the full loan at the end of the 3yrs without any interest?

MrsManda

tman16 wrote: »

I started uni in Oct 2009 and have taken out a loan since then. Is it possible to pay back the full loan at the end of the 3yrs without any interest?

No. Interest starts being added to your loan from the day it hits your bank account.

geoffreyr

My son is going to to uni this Sept. I understand that as a parent i need to supply my taxable income from my P60. This figure already has some "give as you earn" payments deducted from it, so that this charitable giving is not taken into account by the SLC.
But i also give under the gift aid scheme.
How can this gift aidable giving be taken off my income when calculating the residual household income. It doesnt seem to be mentioned in any of the documents i have read or appear on the form.

Thanks in advance

luce181

Hi there,
I wonder if anyone can help me...
I'm starting a pgce in Sept and am going to apply for student finance,

I live with my partner who earns around £17,000 pa. I know that his salary will be included in the assessment.

I have two questions:
I have been working part time whilst doing my degree, but obviously I won't be working whilst I do the pgce. Will my previous earnings be counted in the assessment, or just my partners?

Also, I have some savings from an inheritance- is it just the interest which is counted or the actual savings themselves?

Many Thanks in advance

Lokolo

luce181 wrote: »

Hi there,
I wonder if anyone can help me...
I'm starting a pgce in Sept and am going to apply for student finance,

I live with my partner who earns around £17,000 pa. I know that his salary will be included in the assessment.

I have two questions:
I have been working part time whilst doing my degree, but obviously I won't be working whilst I do the pgce. Will my previous earnings be counted in the assessment, or just my partners?

Also, I have some savings from an inheritance- is it just the interest which is counted or the actual savings themselves?

Many Thanks in advance

Yes the partime work will effect as they take income from the previous tax year rather, but it won't effect you greatly and you can be reassessed on current earnings if you want (not sure how). As its a partime job I suspect you didn't earn more than around £5k so it won't make a hugh difference anyway.

As for savings - any taxable income counts, so savings interest (not ISAs) will count towards it.

luce181

Lokolo wrote: »

Yes the partime work will effect as they take income from the previous tax year rather, but it won't effect you greatly and you can be reassessed on current earnings if you want (not sure how). As its a partime job I suspect you didn't earn more than around £5k so it won't make a hugh difference anyway.

As for savings - any taxable income counts, so savings interest (not ISAs) will count towards it.

Actually, I was earning almost £15k as a Nanny three days a week, whilst doing my degree through the Open University.

So... does anyone know how I can be assessed on the earnings we'll be getting whilst I'm a full time student? We will struggle if it's assessed on the previous years earnings :eek:

And just to clarify, it is just the interest they take into account, not the actual amount of savings?

MrsManda

luce181 wrote: »

So... does anyone know how I can be assessed on the earnings we'll be getting whilst I'm a full time student? We will struggle if it's assessed on the previous years earnings :eek:

And just to clarify, it is just the interest they take into account, not the actual amount of savings?

They won't take your earnings into account, only your partners.
In terms of savings, they take into consideration taxable interest as this is classed as income. They do not take into consideration the capital.
HTH