Help With Student Loans - HERE!

devildog

P2TKL wrote: »

My son is in the process of filling in the application for student grant/loan. He has come to the question about parental finances and we are not sure whether this income includes interest from ISA's...can anyone help please ?

Doesn't include interest from ISA's

P2TKL

devildog wrote: »

Doesn't include interest from ISA's

Thankyou for this. I have trawled lots of different websites on this subject and I cannot find the subject of ISA interest anywhere....do you know if this info is included on any official website please ? Thanks again

devildog

I am sure it is included on an official website somewhere lol. I have just looked back on the 'support' notes I have and it states
SUPPORT NOTES
Section 2 financial information
Savings and investments

Give the interest you receive before tax. You should not include interest you receive from ISAs.

Will have a search and see if I can find the relevant info online and link it for you

devildog

http://www.sfengland.slc.co.uk/media/559149/sfe_pff2_1314_d.pdf

Look under Q5 of support notes

a Income from UK banks, building societies and unit trusts
[FONT=Frutiger LT Std 55 Roman,Frutiger LT Std 55 Roman][FONT=Frutiger LT Std 55 Roman,Frutiger LT Std 55 Roman]
Tell us about the amount of interest/income you received from the following savings and investment income type(s):

Gross UK interest (before tax has been deducted) You must include interest you receive on bank, building society and other savings accounts "unless specifically non-taxable, for example, a non-taxable Individual Savings Account (ISA)" etc.
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P2TKL

devildog wrote: »

http://www.sfengland.slc.co.uk/media/559149/sfe_pff2_1314_d.pdf

Look under Q5 of support notes

a Income from UK banks, building societies and unit trusts
[FONT=Frutiger LT Std 55 Roman,Frutiger LT Std 55 Roman][/FONT]
[FONT=Frutiger LT Std 55 Roman,Frutiger LT Std 55 Roman][FONT=Frutiger LT Std 55 Roman,Frutiger LT Std 55 Roman]Tell us about the amount of interest/income you received from the following savings and investment income type(s):[/FONT]

[FONT=Frutiger LT Std 55 Roman,Frutiger LT Std 55 Roman]Gross UK interest (before tax has been deducted) You must include interest you receive on bank, building society and other savings accounts "unless specifically non-taxable, for example, a non-taxable Individual Savings Account (ISA)" etc.[/FONT]


[/FONT]

Thanks again for finding this :j

Beverley

Hello font of all knowledge :-)

I took out student loans in 97, 98, 99 and 2000. As a single parent working part time and looking after a sick child I've always deferred repayments.

I'll be 50 in September this year and, from what I can see, the loan will then be cleared for me.

However, I've just come across a job opportunity which, if I get it, will take me over the threshold and means I'll have to start repaying the debt.

If I begin to repay the debt, am I then liable for the whole amount (currently around £9.6k) or do the repayments stop in September when I turn 50?

Thanks

Cole_porter

Hello there.

Last year I posted here asking for help and I remember Poolie and Amanda were very kind and informed me very well, clearing my doubts. So first of all, thanks a lot for that, again.

Just to remind you about my case, I took a loan in 2007, just tuition fees, and graduated June 2010. Then I moved to Italy and haven't had a real steady job since then until very recently.

I was/am supported by my parents and girlfriend, and that's what I told the SLC when I sent my Overseas Income Assessment Form. I also attached them a letter signed by my parents confirming that they were supporting me financially. (Poolie recommended me to do this). Then I got a letter from the SLC telling me that it was allright and they weren't expecting any payments from me for the next year. Good.

I just got this year's new form to fill and I have some questions.
Since around october, I've been working part-time (just 3 hours a week) teaching english lessons in a small learning centre for seniors.

The thing is that I don't know what to include with my Overseas Income form, because my payslips are, obviously, in Italian. Do I need to officially translate those? Also, I didn't notify the Student Loan company when I started my new job because the pay is so low that I didn't even think about it...It's like 130 euros per month after taxes. Could that be a problem? I know I'm under the threshold so I guess wouldn't have to worry, but I am a bit confused.

My idea would be to update my situation with them just by telling the truth, that I'm currently in employment, part-time, and still getting support from family. But I don't know if the proof I have, meaning the payslips, is gonna be good for them.

any ideas?

Thanks a lot in advance. It's great to read you Poolie year after year. Your massive help is greatly appreciated.

Mrs_Money

I have 3 years of very old (1997,98 99) student loans that I have always deferred since graduating as I've never earned enough to repay them - under my contract my threshold is £2318 gross per month!
The loans are due to be written off when I'm 60 (which is in a couple of months) and I've just received the deferrment forms for this year. These are the usual forms and make no mention of the loan being written off - they are just the usual forms I've been getting every year.
Do I have to do anything now (apart from returning the deferrment forms as usual) - or does it all happen automatically AFTER my 60th birthday?

bmouthboyo

I hope you don't mind me posting a quick question regarding SLC repayments from abroad.

The country I will be moving to is stated as having a default repayment amount of £147.50 a month. When does the SLC alocate this default figure to someone? Can you just ask to be put on it or is it only for people who make no contact and are backlogged with the default amount?

Is it possible to have a mutual agreement with the SLC to pay the default andmeveryone is happy?

Thanks

jennytablina

I'm slightly confused on this one, I'm looking into doing another course - I graduated in 2011 but found the degree I did was a little too general to really help me get the career ball rolling. Aware it's a terrible market in general but just don't feel set...

Thinking about going to another college and doing another BA (Hons) - the Student Finance booklet seems to suggest getting another loan is entirely possible, but the calculator on the Gov site suggests you only get one loan ever and that's that. Can I get Student Finance or am I boned?