Help With Student Loans - HERE!

lalamb

My daughter started university last year, but when she applied for student finance she did it on a non income assessed. We thought she would be better off, but it turns out she would have got more if she had applied for finance based on household income.

I have 2 questions though, related to assessment for different periods.

1. Can she have it reassesed now for 2013/14? Based on 2012/13 financial year?

2. She is about to reapply for 2014/15 year but our combined salary will drop this coming tax year by a considerable amount, I think we will have to provide 2013/14 salaries though, do they take into consideration the year coming or will they only consider it based on the tax year to date?

Any advice would be very much appreciated.

sirinelameute

Does someone know if its possible for foreigner student who come to London to study plus find an internship to have any student loans, i am French and i couldnt find any student loans for my study and internship at London! Thanks guys

Savvy_Sue

sirinelameute wrote: »

Does someone know if its possible for foreigner student who come to London to study plus find an internship to have any student loans, i am French and i couldnt find any student loans for my study and internship at London! Thanks guys

The eligibility rules are here, so if you've only just arrived I think that would be a 'no'.

E.I.S.W

hi, can you advise? I am a mature single mum hoping to start my degree in sept 2014 full time, i work p/t, i dont know whether to give up my job so i can concentrate on the course, or how i would be financially. Would my working 16 hours a week decrease the amount of grants and loans i can get? any advice apreciated :-)

lea3po

Hi all, I'm a newbie here and just looking for a bit of advice. I never completed any further education after my GCSEs, long story short I have been accepted onto an Access to HE course beginning in September this year, I am currently 23 and will be on the course start date however I also have a child. I have been looking into the possibility of getting a student loan and it seems that I am not eligible to apply for one because I am not 24 on the course start date, I am a parent and trying to think how I am otherwise going to fund my living costs etc while on the course is making it currently seem like I won't actually be able to do so without crippling myself financially. I am 24 just over a week after the course begins, does this mean I could apply for the 24+ loan as I am 24 in the year of the course? Thanks in advance and sorry for the lengthy post!

Sponge

hall987 wrote: »

Thank you Eric, I have cobbled together the info. I have from various sources and created this letter, do you think I have missed anything out?

Erudio Student Loans Ltd
PO Box 580
Rotherham
S63 3FR

RE LOANS : xxxxxx

Formal request for deferment under the Education (Student Loans) Act and Education (Student Loans) Regulations.

Dear Sir/Madam,

I formally request that my student loan accounts listed above are deferred for a further 12 months pursuant to the Education (Student Loans) Act and Education (Student Loans) Regulations.

In accordance with the regulations I provide evidence that:

- my gross income for the relevant month is not more than the deferment level. For my evidence I include as requested a signed copy of my profit and loss accounts for 2012-2013. I am self-employed and work for myself from home
- my gross average monthly income during the 3 months immediately following the relevant month will not or is unlikely to be more than the deferment level.

- As a family my partner and I receive e.g. Child Tax credits, etc I have enclosed copies of these awards. This amount of approx x a month would obviously have to be halved to x as this deferment pertains only to myself.

where “relevant month” means the month before the month in which the borrower asks for deferment.

I shall not be completing the form provided by yourselves as it requests private personal or other data that is not relevant to the above deferment conditions.

I note that there is no requirement in the legislation or agreement to apply for deferment in a given format or on a specified form.

Please note that I do not consent to any additions, amendments, or otherwise, to the Terms & Conditions of the original loan agreement by Erudio Student Loans Ltd. This includes the recording of any student loan deferment information with any Credit Reference Agency, with the exception of where a formal Notice of Default has been served in accordance with The Consumer Credit Act (1974) and The Education (Student Loans) Regulations (1997).

The recording of any information with any Credit Reference Agency in relation to the right of deferment under Section 11 (1) of The Education (Student Loans) Regulations (1997) will be constituted as a breach of the original loan agreement, and may result in civil proceedings being brought against Enrudio Student Loans Ltd.

I declare that all information given is correct to the best of my knowledge, and no relevant source of income has been omitted. As such I fulfil the conditions for deferment.


I look forward to confirmation of deferment.




Yours Faithfully

Thanks for posting this, it's very helpful. :money:

I was wondering what other people did with regard to Child/Working Tax Credits when deferring pre-98 loans.

The SLC states a partners income is not to be counted/included, but gives no guidance (that I can see) on how to divvy-up a household income such as Child Tax Credits.

Splitting it 50/50 seem logical; however, I feel it should be something written in black & white, part of the T&Cs and not open to interpretation.

Is there any official guidance on the issue?

Thanks in advance.

Savvy_Sue

What I know is that the UK student finance arrangements are for students from the UK: generally you and your parents have to have been living here (I think the phrase is 'ordinarily resident' for 3 years before the course starts, with a few exceptions which don't cover your situation.

I do not know which office you have been to, but if the French system doesn't cover study outside France, you are probably out of luck.

It's possible the student union at your place of study will be able to give you advice, but I wouldn't expect there to be much help available in your situation.

Thriftylady1

I am filling in my house hold earnings student finance details to support my daughter and am a bit confused. On my p60 is gives pay earned figure and tax deducted figure, do i add these up together to give gross figure that they ask for?

Savvy_Sue

Thriftylady1 wrote: »

I am filling in my house hold earnings student finance details to support my daughter and am a bit confused. On my p60 is gives pay earned figure and tax deducted figure, do i add these up together to give gross figure that they ask for?

I think your pay earned figure is your gross ... Can you take a look at your month 12 payslip and see if that is clearer?

Thriftylady1

Thank you for your assistance savvy-sue......
Just checked my payslip for the end of year and it says, 'taxable pay to date' and gives the same figure as the 'pay earned' on my p60.
So this is the figure I need then?