Help With Student Loans - HERE!

mayb_2

roxalana and Zaza - the working through university is a great idea on one level, but the sort of work available is often evening and weekend work in bars etc. The trouble with that is that it eats into study time and clashes with classes etc. Apparently lots of students drop out because they just can't balance the two - especially in the last year.

Perhaps it would be better to aim to work during the holiday periods and save money for when she is back at uni. It is so difficult these days - my son went to the local uni and lived at home and we still had quite a lot of debt, but we were in control of it to a certain extent. He was lucky that the local uni did the course he wanted. Most of the time in reality he lived with his girlfriend and used to buy his own food etc. So not really the full experience but still good.

purplegrape

roxalana wrote: »

I can't remember and I'm currently working away from student support so I can't check at the mo! I'm 99% sure there is a limit which might be 60 for taking out a student loan (but I don't know how this fits in with age discrimation leglislation). I think non-loan funding is the same regardless of age though.

Call your Dad's LEA (put his postcode in on the SLC website in the 'find my LEA' section to find the contact details) and they should be able to tell you for sure.

Thanks very much roxalana, I'll give the LEA a call too.

talksr

Does anyone know if you are allowed to start paying back your student loan while you are still at university? I am on my second year, and would like to pay back what I borrowed in the first year. The total is £3670 in tuition fee loans and student support loans, are you allowed to pay this early or is the only way of paying through your job where they decide how much you pay based on your earnings?

cameo_2

I posted this in another thread but having found this one it looks much more appropriate :xmassmile

I have two of the older pre-'98 loans and was just wondering if once I reach a point where I want to pay it back and have the full amount saved, is it possible to pay this back in one lump sum? I dont really fancy the idea of paying it back over 5 years to be honest. I wont be in that position for some months yet so just wanted to see if anyone had experience of doing this, or even if it was possible?

fernando_vaz

Sorry if it's already been answered, but have just taken on a new job where I am earning 35K, which means I will have to start repaying my student loan from 1997-2000.

Do I have to notify them or do I wait until they send out the deferment forms (normally in May/June?), and does it make financial sense to pay back the minimum amount (I have a personal loan at 7.5% of 8k which I have given priority to pay off).

Any advice will be appreciated.

jago25_98

re: http://www.studentfinancedirect.co.uk/portal/page?_pageid=53,1261379&_dad=portal&_schema=PORTAL

International payments.
I notice that instead of the 180 day rule they mention 3 months to be considered foreign to the tax system. Interesting.

I've also heard about a price hike from 2-4ish percent. Not clear on whether that effects existing loans but if it exceeds my savings rate I guess I would pay off all £11,000 in one cheque.

Wonder how I get a login for the website, and whether it would help me check the balance.

Although not paying off the debt makes me £200/month in investments it's an irritation to be chained by the debt... like the government could change the rules at any time. They took out £140/month last month...? No feedback on that yet.

Is there not a wiki or another info page on loans that's independent?

crystal_clear

Hi there
I have a good friend who worked in a london NHS hospital for a few years but finances were getting the better of them. Stuggling on there pay approx 15k did mention they may have to leave seek alternative employment which resulted in the NHS putting them forward for nursing at Uni telling them they were on secondment at 18.5k yet 3 months on the Nhs have been in touch saying this is an error and 15.5k is there annual figure. (there error so that kicks in from JAN )
My friend is a single parent to 3 age 18yrs in further education until June ,16yrs left school in july last year and 13yrs.
They get a small tax credit award and council tax benefit but still stuggling to keep on top of the bills and London housing rents , running the car 25 miles to and from Uni,
Is there anyway they could get any further financial assistance any grants loans they should claim as they are very thifty yet cannot get to end of the week with to pennies to rub together.
If anyone has any advice that may help them stay on the course this would be great.
Thank you for reading and any replies i will pass on
regards
Crystal

Joanna83

Hi there,

I graduated just over 2 years ago and have been earning over £15,000 for over a year. I have had no payments taken or any statements/demands/letters from the student loan people and there is no record of it existing on my credit report.

Now that I've paid off my credit cards I'm happy to start paying but I'm concerned that they will penalise me for not having made any payments or trying to get in contact with them sooner. Is this likely?

Thanks
Jo

mayb_2

My son started earning over the limit about a year ago and he has had deductions from his earnings straight away - It is taken by the taxman so difficult to know how he could miss you if you are being paid in the normal way. I assume it is linked to your insurance number. He also pays more if he gets overtime etc. If you are selfemployed or similar perhaps then you have to inform them yourself of your income.

nimspimms

Hi!

I was wondering if you could help me? I don't know if anyone else has had this problem.

I qualified as a teacher in 2003 and was eniltled to RTL. In 2005 I took some time out of work to travel. I started teaching again in 2006. I posted all the change of circumstance forms to SLC, which they have confirmed they have received, but they cannot update my records, so for the last few months, I have been paying back my loan. I've phoned SLC about this at least 6 times in the last 2 months, but I keep going round in circles and they don't know when it will be fixed. Some one from the IT department was supposed to phone me, but I am still waiting for the call 2 weeks on.

What can I do about this now?

Thank you in advance,

Nimspimms