Help With Student Loans - HERE!

Lokolo

You aren't expected to make up the difference between the amount she has been allocated and the maximum award.

Some people get the minimum loan, and then don't get any contribution from their parents and they are fine.

It's a stupid reason that your daughter should get money because you completely screwed up somewhere along the lines. Some people come on here saying "Oh I have high living expenses so my daughter should get more money." no.

I'm not sure how it isn't financially viable for your daughter to go to university without your help, even though she is getting loan and grant. She has many choices available to her, getting a job being a key one.

liamgaul

Some people also get the minimum loan and are absolutely not fine. If you are studying in London then the maximum loan probably won't even cover your rent. How are you supposed to pay for transport, bills, buy food, buy stationary, books etc for uni when you don't even have enough to pay rent? It is absolutely implied that parents should make up the difference hence means testing! Why would they punish students whose parents earn more, by giving them less of a loan, if they weren't expected to contribute.

Getting a job is completely unfeasible for some students who have study requirements that themselves are full time jobs, such as medics, dentists and scientists.

It's a stupid reason that her daughter should be punished for somebody else's hardships. You know nothing of the situation so quit your ignorant and judgmental bashing.

missbiggles1

liamgaul wrote: »

Some people also get the minimum loan and are absolutely not fine. If you are studying in London then the maximum loan probably won't even cover your rent. How are you supposed to pay for transport, bills, buy food, buy stationary, books etc for uni when you don't even have enough to pay rent? It is absolutely implied that parents should make up the difference hence means testing! Why would they punish students whose parents earn more, by giving them less of a loan, if they weren't expected to contribute.

Getting a job is completely unfeasible for some students who have study requirements that themselves are full time jobs, such as medics, dentists and scientists.

It's a stupid reason that her daughter should be punished for somebody else's hardships. You know nothing of the situation so quit your ignorant and judgmental bashing.

Debts are never taken into account when assessing benefits and student loans work on the same principle.

liamgaul

I'm starting a PhD in September and I'm on plan 2 of the student loan as I started in 2012. I understand that for most people student loan repayments start the April after graduating--April 2017 for my cohort. It says on the student loan website that the debt is wiped after 20 years from "when you become eligible to pay", but I can't find any information anywhere about what the eligibility criteria are and when that would be.

I won't be making repayments when I'm doing my PhD as I get a stipend that is not tax deductible. Does the 30 year 'clock' still start in April 2017 for me? Does that mean in 2020, when (read: if) I graduate, I will have 24.5 years left or will the 30 years start after I graduate from my PhD?

I can't find any clarification anywhere. Thanks in advance.

liamgaul

missbiggles1 wrote: »

Debts are never taken into account when assessing benefits and student lons work on the same principal.

I didn't say they were

Ed-1

liamgaul wrote: »

I'm starting a PhD in September and I'm on plan 2 of the student loan as I started in 2012. I understand that for most people student loan repayments start the April after graduating--April 2017 for my cohort. It says on the student loan website that the debt is wiped after 20 years from "when you become eligible to pay", but I can't find any information anywhere about what the eligibility criteria are and when that would be.

I won't be making repayments when I'm doing my PhD as I get a stipend that is not tax deductible. Does the 30 year 'clock' still start in April 2017 for me? Does that mean in 2020, when (read: if) I graduate, I will have 24.5 years left or will the 30 years start after I graduate from my PhD?

I can't find any clarification anywhere. Thanks in advance.

Loans for different courses have different write off dates and become eligible for repayment on 6th April after the course ends.

So e.g. If you start a 3 year honours degree in 2012 and finish it in June 2015, the loan for this course enters repayment on 6th April 2016 and therefore any outstanding balance from this loan will be written off on 6th April 2046. If you go on to take out loans for subsequent courses, these enter repayment later and any outstanding balance on the later loans would be written off later than for your first loan.

liamgaul

Ed-1 wrote: »

If you start a 3 year honours degree in 2012 and finish it in June 2015, the loan for this course enters repayment on 6th April 2016 and therefore any outstanding balance from this loan will be written off on 6th April 2046.

I did a 4 year BSc sandwich course, with year long internship before my last year, so I started in 2012 and graduate in 2016 (last exam on Thursday, woo!) So I guess my loan enters repayment in April 2017, regardless of me undertaking a PhD?

Ed-1 wrote: »

If you go on to take out loans for subsequent courses, these enter repayment later and any outstanding balance on the later loans would be written off later than for your first loan.

I am receiving full funding for my PhD and won't be taking out any loans as my fees will be paid for. Thanks for your help!

Mrs_Arcanum

phil42 wrote: »

My daughter has applied for a student loan and I have supported her application.
I have provided my financial details and they have made an assessment based on that. However, I am on a debt management plan.
The amount awarded to my daughter is based on my gross income, less tax and I am presumably expected to make up the difference between the amount she has been allocated and the maximum award.
However, my ability to be able to make up that difference is also dependent upon the fact that I have to make a large monthly payment (£710) to the debt management plan.
I contacted student finance before starting to fill in the online form and was told that there was a box on the application where I would be able to provide details of the debt management plan and that this would be taken into account when making the assessment.
When I came to fill in the form, there was no box where I could provide the information. I contacted student finance again and was told that I'd have to get evidence from the debt management company of how much I was paying and forward that to them and then they would take account of the debt payment.
I phoned student finance again when I received the evidence from the debt management company to check that the document was suitable and was told that there was no need to send the document in as they wouldn't take it into account.
The next day, my daughter received her assessment, which didn't take the debt management plan into account.
Does anyone know if the debt management plan should be taken into account or not? I was informed by a manager at student finance that due to my circumstances, unfortunately it just wasn't financially viable for my daughter to attend university.
This doesn't seem to be a very fair way of applying the law - why should my daughter's ability to attend university be dependent upon some poor financial decisions I have taken in the past?
My debt management payment effectively puts me on a lower income than my gross salary and tax payments would suggest - if I were on that lower income without the debts, my daughter would receive a larger award.
I have been told by student finance that I can appeal, if i like, but that it won't make any difference.
Can someone enlighten me as to the assessment criteria?

My daughter has to manage on £6,000 per year for rent and living expenses.

Unfortunately the assessment criteria care nothing for how money may be needed by parents because of circumstances such as yours.

However, your debt management plan can be adjusted to allow for some support from you for your daughter.

Ohh_Matron

Hi, this may not be your area of expertise, but what happens if parents can't afford to top up their child's living costs whilst studying. Our household income is around £41000 pa, our only real debt is a mortgage but we have 4 children, 1 starting uni in 2016 and one probably in 2018.

My question is, what if the parents don't have enough disposable income to contribute much? What do we as the parents do?

I have told my child tht she will need to work but still several of our friends are contributing £500+ PER MONTH.

Are we/is this unusual?

silvercar

liamgaul wrote: »

I did a 4 year BSc sandwich course, with year long internship before my last year, so I started in 2012 and graduate in 2016 (last exam on Thursday, woo!) So I guess my loan enters repayment in April 2017, regardless of me undertaking a PhD?

Yes. If you have income below the threshold there will be no payments to make.