Help With Student Loans - HERE!

silvercar

JudiSN wrote: »

Hi - I have been offered a place on an MSc course at Reading - this will be by first degree at the age of - well just post 60, therefore I am not eligible for the new Post Grad Loan which states that one must be under 60 when the course starts (surely against the Equality Act/Ageism?). Seeking any advice on funding my tuition.

There are a few companies that offer private loans. Future Finance comes to mind, but I'm sure there are others.

surfsister

anyone know if the govt post grad loan wesbite applications ever works??? It keeps saying technicalk error but it has only just opened up. Surely it can't have ICT probs already.

But funnily enough it lets you print out a hard copy to post to them/

Any experience of this??

Mrs_Arcanum

missbiggles1 wrote: »

With an income of £41k your child will be eligible for full funding so you shouldn't normally need to top this up. however, if you would like to do so, don't forget the money you'll be saving when she leaves home to go to university which you could give to her to supplement her income.

(IME, £500pcm is an unusually high amount and would mean that the student was very well off with the student loan and their parents would be exceptionally high earners.)

The Maintenance loan (no such thing as grants for students from 2016) tapers down to £5,727 by the time the Family income reaches £45,000 so no, someone from a family on £41,000 will not get get the maximum maintenance loan of £8,200.

However, the most parents are expected to add, is the gap between the maximum maintenance loan and the loan actually given.

silvercar

However, the most parents are expected to add, is the gap between the maximum maintenance loan and the loan actually given.

There is no expectation of what parents could or should contribute.

Adding an amount to bring the loan upto the amount that non earning parents could expect their offspring to receive is one way of looking at it.

Students in receipt of the maximum loan are often eligible for bursaries from the university and so will end up with more money to live off. Should parents take this into account to maintain parity?

If you talk to students, they will tell you that they are more concerned with having enough money to live off day to day than the loan repayments that attract media attention. In some expensive cities, the student loan amount won't even cover transport + rent!

Mrs_Arcanum

silvercar wrote: »

There is no expectation of what parents could or should contribute.

Adding an amount to bring the loan upto the amount that non earning parents could expect their offspring to receive is one way of looking at it.

Students in receipt of the maximum loan are often eligible for bursaries from the university and so will end up with more money to live off. Should parents take this into account to maintain parity?

If you talk to students, they will tell you that they are more concerned with having enough money to live off day to day than the loan repayments that attract media attention. In some expensive cities, the student loan amount won't even cover transport + rent!

Most will get what parents can afford, which is entirely up to the parents. There are no right or wrong amounts.

However, looking at Student accommodation for first years, this could use up the whole loan for some, leaving nothing to live on.

Gezzad

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 am paid 4 weekly and erudio are calculating my payments monthly. Am I being conned or are they correct in what they are doing? Thanks

silvercar

Mrs_Arcanum wrote: »

Most will get what parents can afford, which is entirely up to the parents. There are no right or wrong amounts.

However, looking at Student accommodation for first years, this could use up the whole loan for some, leaving nothing to live on.

Students need to examine their finances and decide if staying in official university halls is affordable. Most universities have a range of accommodations, from old style Halls that include a shared study room and food to luxury self catering en-suite accommodation with 24 hr security and gyms and computer hubs on site.

Outside of official accommodation there are private halls in large university towns, private student rentals in most places etc

Mrs_Arcanum

silvercar wrote: »

Students need to examine their finances and decide if staying in official university halls is affordable. Most universities have a range of accommodations, from old style Halls that include a shared study room and food to luxury self catering en-suite accommodation with 24 hr security and gyms and computer hubs on site.

Outside of official accommodation there are private halls in large university towns, private student rentals in most places etc

My son was looking at En-suite in standard halls in Southampton, which would swallow up the whole of his maintenance loan. I do find the cost of accommodation is quite frightening for students who have to rely on other income. Yet those from low income families will get extra money thrown at them should they need it.

2017/18 we will have a 1st year student and a masters student to help with, no allowance is made for this when calculating the loans offered.

Kate909090

I'm starting a full time higher education access course for counselling in September. I'm 49, so I've applied for my 24+ learning loan to pay for the course. My problem is that I can't find out anywhere if I'm entitled to a maintenance loan. I'm a single Mother (my son is 24 and self sufficient). I've tried to apply for finance but it seems that my course is not covered until next year when I start the foundation degree. I work at the moment and earn around £14k per year but once I start my course, I will only be able to work part time and won't be able to cover my rent etc.

Please help, I'm at a loss!

Many thanks,

Kate

Starrystarrynight1

An access course is further education, rather than higher, and so you won't be able to apply for a maintenance loan.