Help With Student Loans - HERE!

Taiko

There's no finance available from the SLC for this. Did you not research this before she left?

mrsd

Thanks again Taiko, especially for the offer of further help if needed.

lizziebabe

Hi - I wonder if you could help me.

I was a mature student so I have loans etc for my Uni course.
My work is irregular and so are my weekly earnings (Agency Nurse). I have had money deducted over this year for my student loans, but by the end of this financial year I won't have earned the £15,000 threshold. So I will have paid some of the loan and not earned the minimum.

What happens about this - can I approach the loans company and get my money back, I cannot really afford to pay back and I know it is difficult to assess my earnings but what can I do?

Thanks in anticipation.

melancholly

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678477&_dad=portal&_schema=PORTAL

you have to ask, but you can claim it back at the end of the year (they don't automatically give it back to you)

alibaba40

Thanks. Yes we did find out before she left and we knew she would have enough savings for living costs for at least the 1st year plus and hopefully she will top up with further work. However, I read on the UKCISKA site that this government had signed up as follows:
'Although the UK has signed up to a commitment to portability of educational loans and grants , this has not yet been implemented, so you are unlikely to be able to access the same entitlements you would have if studying in the UK'.
I was just wondering if anyone knew any more about this? Has anybody else got experience of studying abroad? Have contacted my MP who has contacted David Willett's office but not heard anything back yet.

Sorry not used to this yet and I realise this is not a quick reply!

Taiko

Nothing announced, it's only exploratory, and wouldn't be implemented all the time we are in a cutback phase.

savvysuzy_2

I know the loans post 2012 will be like a kind of tax and the student will pay back 9% extra tax when they earn over £21,000 will this payment be until they have paid back their total loan (i.e. the amount they borrowed) or willl they simply pay extra 9% for 30 years (i.e. not linked in anyway to the amount they borrowed.Going to be doing a presentation about student loans post 2012 to current sixth formers so any input greatly appreciated and any signposting to resources also greatly appreciated.

Derivative

savvysuzy wrote: »

I know the loans post 2012 will be like a kind of tax and the student will pay back 9% extra tax when they arean over £21,000 will this payment be until they have paid back their total loan (i.e. the amount they borrowed) or willl they simply pay extra 9% for 30 years (i.e. not linked in anyway to the amount they borrowed.Going to be doing a presentation about student loans post 2012 to current sixth formers so any input greatly appreciated and any signposting to resources also greatly appreciated.

Until the loan plus interest is paid off, or until they reach the age at which the loan is written off.

So if, for example, they managed to land a top job and earn six figures, they'd likely pay the loan off in a couple of years and not have to worry about it any more.

But if they made just over the repayment threshold, it would be 9% for 30 years as the loan amount would never be repaid.

virenque

Hi Taiko

I would be grateful for your help with a query.

I have a student loan for 2 years of my degree taken out in 1994 and 1995, for a long time it has been deferred because i earnt less than the average wage.
I now work as a contractor earning £107.33 per day/£536.65 per week gross for a 5 day week. I am not directly employed by the company I work for but am employed by the agency. I only accrue holiday at a rate of about half a day a week and I don't get paid when i am off sick. This means i don't always get a full wage.

Do you think i will be able to defer again this year? Are there seperate rules for contractors?

Many thanks.

Taiko

No different rules, if you earn over the thresholds, you pay back.