Help With Student Loans - HERE!

cef

Hi, this is my first post, i hope it works.
I have one son applying for a student loan for his 2nd year and one son applying for the first time. Why is the threshold for the parents earnings different?

roxalana

cef wrote: »

Hi, this is my first post, i hope it works.
I have one son applying for a student loan for his 2nd year and one son applying for the first time. Why is the threshold for the parents earnings different?

What year are each of them starting?

If one started their course in 2005/06 (or 2006/07 if they were a 'gap year student') and the other started in 2006/07 or later the funding systems are different. The government is also planning on introducing a third system (with different thresholds) for 2008/09 starters.

Make sure you list your sons as your dependants in the financial section of the form (if you are being income assessed) to ensure the assessments are correctly shared (your contribution is shared between them).

This might mean that the son who is assessed first gets one notification and then a second one showing increased entitlement once his brother is assessed.

^!£$&

Hi please can you help me??
I have come into some money recently and want to payoff some of my student loan so if I pay some off in feb 08 by cheque will it get applied to the loan ammount straight away??
Thanks very much :-)

cef

One son started his course Sept 07. The second son will start Sept 08

roxalana

Hi cef,

If one started in 07 and the other is starting in 08 then I believe the second one will be covered by a different funding system which has different thresholds. Unfortunately, whilst I was still working for the LEA we were only at the stage where the government had announced it with no firm details, so I don't know much more.

The Student Finance Direct site should have more information (it might not be available until approx April though)

misscomickat

Hi, can someone help me please?

I've recently moved house and am about to leave the country for 4 months. I won't be earning anywhere near 15k so won't be making repayments. I need to let the SLC know but can't find any contact details for them. I also don't have all my numbers/references etc, as I have just moved house and everything is upside down.

Theboys!

Hi. Hope you can help me. I had a student loan back in 1996 for approx £2000, but being a silly idiot I defaulted on it (they issued a CCJ), and over the years forgot about it. The Student Loan Company tracked me down last year and I am now paying it back at £30.00 per month. However, I have just been accepted onto a social work degree, and am hoping to apply for a new student loan. My understanding is that my credit rating won't affect my application, but do you know what the SLC stance will be on the outstanding debt with them? Will they refuse outright or will I need to pay off the existing balance before they consider a new loan? Thanks in advance.

mayb_2

Theboys - Just a thought. If you did get a loan from the company perhaps you or they could pay off the first £2000 using that new loan. It would make things very tight for the initial months but you don't want to be trying to pay off past debts at the same time and it could be difficult to stop them from taking your £30 per month from you under the circumstances. They may be willing to add your past loan to your current loan, but this will be accumulating interest from the very offset and sounds like you could owe them a pretty large sum at the end of it all.

Undercovercarrot

Have just received my 2006/2007 interim statement, which confusingly shows that i have only paid £765 in that financial year towards my loan. Now I know I paid more than this (contributions on average £170pcm). SLC say it's probably due to the fact I changed jobs halfway through the period and HMRC have only advised them of one job. They've asked if I can provide a P60.

Unfortunately, HMRC have in a previous !!!! up lost my P60 for that tax year, and all I have is a statement which doesn't show my PAYE student loan contributions. I don't think that will be enough for them. Does anyone know what I can do, as I reckon I'm about £1500 down on the deal!

bigdog69

Hi,
I just got my December statement which shows payments up to March/April 2007. By the end of this tax year I will have paid off the whole loan - how do I stop them continuing to take payments from me until the next statement date?
Thanks