Help With Student Loans - HERE!

Savvy_Sue

Just to add to what Ed said, and to pick up on these bits:

lizziegrace81 wrote: »

I don't understand how my interest could have accrued to take me over what I borrowed initially.

lizziegrace81 wrote: »

Would I have been paying interest still whilst on maternity leave? I think it is disgusting. As a student I was not made aware of the consequences of this loan. That may sound pathetic but it was billed to me as an interest free loan. Nobody at any point mentioned this would change after my course had ended.

Hate to break it to you, but you started to accrue interest on this loan on the day you took it out, so each year throughout your degree the total you owed was increasing, so that you always owed more than you'd originally borrowed. Nothing changed after your course ended.

tiredwithtwins

hi everyone,
just after some advice as im concerned im going to overpay the final balance in the next couple of months.
I checked the slc this morning to check my balance, and last years contributions still haven't come off my account .. as im down to the last £125ish, im worried my employer (the NHS) is going to carry on making deductions when the balance is actually cleared. When I spoke to payroll they said they receive communication from the slc when to stop taking the deduction, but as the loan balance doesn't seem to be updated until the end of august every year I don't want to carry on making payments and end up having the palaver of reclaiming (plus im a broke single parent, I cant afford it!!). I rang the slc a few years ago as I disputed the balance, and they say they don't update the balance until they receive communication from the employers!!
can anyone shed any light on what happens?
thank you!!! Sue

gatters

Sue,

If complete repayment is imminent, you'll need to phone SLC and perhaps manually inform them of your repayments made since their records were last updated.

SLC should then issue a stop notice to your employer, and you can pay the remaining balance either by a direct debit or a one off payment.

Good luck, it's a bit of a faff and check your payslips carefully as it took me months to stop repayment. I believe there's around £40m a year overpayments taken in error.

lcc86

Hi,


Not sure if this is the right place to ask questions about postgrad student loans? If not, just let me know and I'll repost in a new thread:


I am due to begin my MA with the OU in October and am going to apply for a postgrad student loan. The course is made up of 2 modules, I wanted to study one module in 2017/18, then take a break and begin the second module in 2019/20. Does anybody know if this is possible and how it works in terms of the student loan?


This is the second time I've attempted masters-level study. The first time I was part-way through my first module (different course) when I had to drop out due to personal reasons. I funded that myself so there were no implications, but this is part of the reason why I want to take a break in between modules if possible. However, just playing devils' advocate, what would happen if, for example, I complete the first module and then don't go on to study the second for whatever reason? This is not my intention, but I've never had a student loan before and wanted to find out what tends to happen in this sort of scenario.

Craftysue

Student finance want prove that i'm separated from my husband. I can't use council tax bill as i have my 22 year old student son living with me.

silvercar

Craftysue wrote: »

Student finance want prove that i'm separated from my husband. I can't use council tax bill as i have my 22 year old student son living with me.

Does your husband have council tax proof that he is living elsewhere?

agrinnall

Craftysue wrote: »

Student finance want prove that i'm separated from my husband. I can't use council tax bill as i have my 22 year old student son living with me.

What proof have they said they will accept?

Fruity1

Hi, not been on MSE in ages so apologies if I'm in the wrong place. My daughter applied for student finance for tuition and also maintenance. She was accepted for both based on doing a foundation year then 3 year degree- I believe. She got better grades than expected so changed the course to a straight 3 year degree. She contacted student finance who sent a new form which was duly completed and returned. Off she went to uni 3 weeks ago. Has a text advising information was received. Spoke to student finance who initially told her it would be sorted by September 27th then by tomorrow and now it's showing as finance blocked. She has received first instalment of maintenance so can afford her halls rent. Does anyone have a number where we can speak to someone who will be helpful asap. As you can imagine I have a very distressed daughter hours from home.

Savvy_Sue

Fruity1 wrote: »

Has a text advising information was received. Spoke to student finance who initially told her it would be sorted by September 27th then by tomorrow and now it's showing as finance blocked. She has received first instalment of maintenance so can afford her halls rent. Does anyone have a number where we can speak to someone who will be helpful asap. As you can imagine I have a very distressed daughter hours from home.

I'd strongly suggest she gets herself over to whatever student support services are available where she is. These are likely to include the Students Union and something within the Registry. They will be used to this sort of situation (both in terms of student finance problems and very upset students far from home), and will have the contact details your DD needs.

greenbrucelee

Sorry I believe I may have posted in the wrong section so am posting my query again. Sorry if this is the wrong thing to do.

I had student loans in 96,97,98 I have never made any repayments and it is very unlikely I will ever earn the amount stated in the deferment letters.

Will my loans be written off when I am 50? (I am now 40)