Help With Student Loans - HERE!

Helix

TwoKicker wrote: »

I have been accepted onto a Masters programme for next year.

I previously did my MChem but quit after 4 months in the 4th year to take my BSc instead.

I recieved a two instalments of a maintenance loan in the 4th year but did not need to take the tuition fee loan as there was no charge.

Anybody know if it will be possible for me to take a tuition fee loan for a Masters programme. ANd/Or a Maintenance loan?

Thanks a lot in advance for any advice!

I am assuming it is a postgraduate masters, in which case you are entitled to no funding from the student loans company neither maintenance or tuition fees as they don't fund postgraduate courses.

Oldernotwiser

TwoKicker wrote: »

I have been accepted onto a Masters programme for next year.

I previously did my MChem but quit after 4 months in the 4th year to take my BSc instead.

I recieved a two instalments of a maintenance loan in the 4th year but did not need to take the tuition fee loan as there was no charge.

Anybody know if it will be possible for me to take a tuition fee loan for a Masters programme. ANd/Or a Maintenance loan?

Thanks a lot in advance for any advice!

Student loans aren't available for postgraduate degrees.

melancholly

just to echo the above - there is no funding for a postgraduate masters from the student loans company. you may be able to get departmental funding, although often that is very competitive and linked to phd places. getting onto a masters is much easier than funding it right now. start looking at whether a career development loan is viable for you, or whether you can work and save the money. i guess you'll have until Sept 2012 to start, so that is a lot of time to think of other options.

Stridge

Hello,

I'd love some advice regarding overseas repayments for income contingent student loans.

I moved from the UK to Canada earlier this year and need to continue repaying my student loan. I transferred my job from the UK office to the Canadian office of my company and my new salary was specifically calculated so that i would be earning the same relative amount with respect to cost of living in Canada (in particular Vancouver, which is a fairly expensive city). However, since 2008 the exchange rate between GBP/CAD has declined significantly, meaning that my new salary in Canada, coverted back to British Pounds using the current exchange rate, is also significantly higher than my old UK salary...but not in terms of the cost of living in Vancovuer.

My question is regarding the overseas repayment thresholds and their calculation and application in combination with exchange rates. I have been told by SLC that the overseas repayment threshold for Canada has not changed since the thresholds were introduced. However, as i mentioned earlier, the exchange rate between GBP/CAD has changed alot over the previous 5-10 years (2.2 in 2007 to 1.6 in 2011). This means that if the exchange rate was at 2007 levels my monthly repayments would be approximately the same as a i paid back in the UK through PAYE, however, with the exchange rate as it is now at 1.6 the monthly repayments are almost 70GBP higher! Even when taking in to account the favourable difference in the exchange rate to calculate the repayment amounts in CAD (i.e. how many CAD i have to send home every month) the difference is still large.

It seems to me that the exchange rates between GBP and other currencies are not taken in to account fully. Unfortunately SLC seem to take the stance that there's nothing they can do about it as the repayment thresholds and exchange rates (taken once a year) are provided to them by an external body. I can imagine that Canada is not the only country affected by this - the Pound weakened against many currencies after 2008 - but it seems that the overseas repayment thresholds do not chage to relfact this.

I suppose my question is - has anyone else had any discussions with SLC about this and what was the outcome? So far my discussions regarding negotiation of repayment amounts have been completely fruitless. In fact, i haven't even been able to speak to someone who can negotiate repayment amounts.

I'm anxious to get a repayment schedule sorted, but at the moment the amounts demanded are going to elave me seriously out of pocket! Any help on this would be greatly appreciated.

JLS1901

Right just spoken to someone at SFE as I ve not heard anything apart from the fact I was told to appeal then told that was wrong. I have been told I can't appy as an independant in any way as I earnt under 7,500 for the year 08/09. This is really upsetting for me, I managed to survive on what I earned end of and it seems I am being penalised for it. Any advice?
A very unhappy
Welly

JLS1901

No couldn't claim any benefits. Bills were split 50/50 between sis and I.

Taiko

Ask them to document where within The Education (Student Support) Regulations 2011 it states you have to earn the set £7500. I'll give you a hint: It doesn't.

Schedule 4 Paragraph 2(1)(k) of The Education (Student Support) Regulations states a student is independent if:

the student (“A”) has supported A out of A’s earnings for any period or periods ending before the first academic year of the course which periods together aggregate not less than three years, and for the purposes of this sub-paragraph A is to be treated as supporting A out of A’s earnings during any period in which—
(i)A was participating in arrangements for training for the unemployed under any scheme operated by, sponsored or funded by any state authority or agency, whether national, regional or local (“a relevant authority”);
(ii)A was in receipt of benefit payable by any relevant authority in respect of a person who is available for employment but who is unemployed;
(iii)A was available for employment and had complied with any requirement of registration imposed by a relevant authority as a condition of entitlement for participation in arrangements for training or receipt of benefit;
(iv)A held a state studentship or comparable award; or
(v)A received any pension, allowance or other benefit paid by any person by reason of a disability to which A is subject, or by reason of confinement, injury or sickness.

The Regulations override any internal guidance on this matter. If they are refusing on the grounds of you not earning enough, without looking at the individual circumstances, then they are not following the regulations, and you should be able to enforce this in court should you so wish. If they'd looked at your circumstances and then decided that you were not wholly self supporting, they'd be in the right.

JLS1901

Taiko wrote: »

Ask them to document where within The Education (Student Support) Regulations 2011 it states you have to earn the set £7500. I'll give you a hint: It doesn't.

Schedule 4 Paragraph 2(1)(k) of The Education (Student Support) Regulations states a student is independent if:



The Regulations override any internal guidance on this matter. If they are refusing on the grounds of you not earning enough, without looking at the individual circumstances, then they are not following the regulations, and you should be able to enforce this in court should you so wish. If they'd looked at your circumstances and then decided that you were not wholly self supporting, they'd be in the right.

Thanks Taiko. They are point blank refusing me on the fact I earned under 7,500. I have said I can send bank statements etc to prove this and my dads death cert but she said there was no point.
It's just frustrating, if dad was still alive he was on a low income I'd have got the full amount.

Off I go to call them again. Thanks Taiko.

Oldernotwiser

wellylass89 wrote: »

No couldn't claim any benefits. Bills were split 50/50 between sis and I.

Sorry, hadn't realised that this was part of an ongoing story.:o

Whose income are the assessing you on at the moment?

JLS1901

Oldernotwiser wrote: »

Sorry, hadn't realised that this was part of an ongoing story.:o

Whose income are the assessing you on at the moment?

They are assesing mine for the last 3 years.