Help With Student Loans - HERE!

markoneill27

Dont know this has been covered on here yet.

I have applied for self supporting status and fit all the criteria. However, I done an access course from January until August this year and because of this they are saying I was not an independent student.

Can someone shed some light on this situation?

daivid

Hi, I wonder if anyone has been in a similar situation; I completed my PGCE last year for which I took out a student loan, having not got a permenant post I registered on the council supply list.

I have been fortunate to get full time supply work for the time being and next month should recieve a month and a bit of pay (didnt process in time this month). Will I have repayments taken on the assumption this relates to my anual pay or will they wait to see how things even out?

At the moment I am earning plenty to afford to repay but have no job security and could end up earning nothing through the rest of the year...

neanderman

slcworker wrote: »

Hey, i have alot of Knowledge of how the student loans procedure works. If anyone needs any help, i can advise as much general info.
Obviously i cant divulge into specifics due to Data Protection and the fact that i'd get fired, but anything i can help with, just let me know.

Hi,
I took out a student loan in 1995, 1996 and 1997 aged over 45.
I have been deferring since graduating in 1998, but not received deferment documents this year and have just moved. I an wondering weather to get in touch with loan co.
I was 61 last November.
According to a chart on this site it states my loan will be written off at aged 60. (1990 - 1997 (If aged 40+) When you reach age 60)

Is this definitely correct please ?
and should I still contact them or just forget it ?

many thanks

Andy_H_2468

New_York_No1_fan wrote: »

Please read Martins link
moneysavingexpert.com/students/student-loans-repay

this should help answer your question.

Martins link isn't really all that helpful for several reasons.

Firstly, if the graduate earns 'big bucks', they could save close to £100,000 by paying upfront. (see Martins table 3/4 way down the page of moneysavingexpert.com/students/student-loans-tuition-fees-changes#multiThree where £9,000 for fees & £5,500 living costs x 3 years, (£43,500) could result in up to £133k being repaid whereas he suggests the saving is £39.5k.

The other main problem is estimating graduates salaries and the rate at which they rise (Martin suggests 3% above inflation). My experience is - yes 2-3% above inflation, then 10-20% every few years with promotions, moving job etc.

It seems to me that doctors, dentists, engineers, mathematicians, accountants, future bankers etc should bend over backwards to try to pay upfront and avoid 5.5% interest on what they borrow and only the moderately low salaried graduates will pay less than they borrowed.

wilf55

Hi. I studied back in 1996 up to 2001. I didn't finish the course and have never earned enough to have to pay back my student loans. However. Due to being ill and other things didn't defer my loans properly. However in 2004 I sent of dla and a note from my gp and SLC wiped out one of the loans but were actually meant to wipe out the other 4. I rand erudio after getting a letter from them and they said they would look into it and write to me.

They have. Saying interest has been calculated wrong and they will rewrite to me.

I have got a copy of my original gp letter and wanted to write to them to try and get the a count completely wiped out as they are saying it is in arrears.

How should I proceed. I want to start studying with open university but need the account cleared to finance my studies.

I am 48 on dla and have been for 7 years and unlikely to be able to work again at least for 10 years or more.

Thank you

kebladas

Hi,

Sorry for bothering anyone, but i'm really stuck and could do with some help. I would really like to go back to university to complete my studies, but I have no idea if I can get a student loan.

The reason I have no idea is due to a couple of circumstances. Firstly I did attend university in 1999-2001, but unfortunately I had to leave to become a carer for a relative who had severe learning difficulties. Much later on, I was fortunate enough to be able to study for a foundation degree (funded through work). Would either of these bar me from obtaining any future funding?

I know that there a few funding opportunities for people (ie. NHS funding etc.), but unfortunately I would be looking to study for a course (BSc Biomedical Science) that isn't covered by these areas.

Many thanks.

Pete.

estrella123

slcworker wrote: »

Hey, i have alot of Knowledge of how the student loans procedure works. If anyone needs any help, i can advise as much general info.
Obviously i cant divulge into specifics due to Data Protection and the fact that i'd get fired, but anything i can help with, just let me know.

Hi are you still able to give advice?

Savvy_Sue

estrella123 wrote: »

Hi are you still able to give advice?

slcworker tends not to post any more but other people do, from time to time, if you explain what the problem is and what you've done to resolve it.

Jo134

Hi, I am looking for a bit of advice if anyone has a spare minute?

Prior to uni a family friend who works in a bank told me not to get a student loan as it will affect my ability to get a mortgage when I graduate. I decided to work for a couple of years first and saved up a fair bit of money and so I am currently in year 3 of 5 at uni and have never had a student loan. It is now getting to the stage that even with all my strict budgeting, things such as placement expenses have crept up and although I have enough to see me to the end of my course, I will graduate with not a penny to my name. I find this slightly troubling as I believe money is required to purchase things such as food, cars, and rent, and so I have been thinking about taking out a small student loan to tide me over and to ensure I have a little money left upon graduating.

My question is how do student loans affect your credit score and your ability to take out mortgages and other bank loans? Is it also beneficial to pay off my whole loan all at once as soon as i am able (as I only plan to take out maybe 2-3000) or will I still be marred by the fact that I had a loan regardless of its magnitude?

Any help would be much appreciated!
Thanks!

Savvy_Sue

Jo134 wrote: »

Hi, I am looking for a bit of advice if anyone has a spare minute?

Prior to uni a family friend who works in a bank told me not to get a student loan as it will affect my ability to get a mortgage when I graduate. I decided to work for a couple of years first and saved up a fair bit of money and so I am currently in year 3 of 5 at uni and have never had a student loan. It is now getting to the stage that even with all my strict budgeting, things such as placement expenses have crept up and although I have enough to see me to the end of my course, I will graduate with not a penny to my name. I find this slightly troubling as I believe money is required to purchase things such as food, cars, and rent, and so I have been thinking about taking out a small student loan to tide me over and to ensure I have a little money left upon graduating.

My question is how do student loans affect your credit score and your ability to take out mortgages and other bank loans? Is it also beneficial to pay off my whole loan all at once as soon as i am able (as I only plan to take out maybe 2-3000) or will I still be marred by the fact that I had a loan regardless of its magnitude?

Any help would be much appreciated!
Thanks!

Personally I think your 'family friend who works in a bank' gave you poor if not wrong advice, but start with Martin's myth-busting article and make up your own mind.