Help With Student Loans - HERE!

Savvy_Sue

I'd apply and sort out the funding afterwards. Worst case: you have to withdraw if no funding available. If you haven't phoned Southampton I'd do that, also it may be better to speak to the relevant dept. The sooner they know there's a problem with finance, the more likely they'll be able to sort it.

Emmamumof6

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 had a student loan in 2004 I started paying it back after a couple of years even though I wasn't earning enough money as I was panicking about the rising interest, I'm sure Martin said I could look into claiming this back as I shouldn't of been paying it in the first place, advise gratefully recieved

Ed-1

Emmamumof6 wrote: »

Hi I had a student loan in 2004 I started paying it back after a couple of years even though I wasn't earning enough money as I was panicking about the rising interest, I'm sure Martin said I could look into claiming this back as I shouldn't of been paying it in the first place, advise gratefully recieved

Did they come out of your wages? If so, how much were you earning? Or were they voluntary repayments?

chriswright83

Last year a friend and I were both resitting a module on our part time foundation degree in web technologies.

That was the only module we needed to study that year to complete the course.
we both applied for student finance for this.

He received finance. I got contacted later in the year to be told that i didn't qualify for finance as i wasn't taking enough modules that year.
I can't afford to pay the £800 for the module and i find it crazy that if I can't, then I can not graduate?
Surly this must be a scenario that happens somewhat regularly and people should be covered in this scenario.
I'm now in the situation where I have spent close to £20k on a course and cant graduate unless i can magically produce money I don't have.

Has any one been through a similar situation or have any advice. I would be incredibly grateful to get some feedback

bettyswoobs

I have four separate loan accounts from years 97, 98, 99 and 01. My 98 one seems to be referred to as Plan 1 and its paperwork seems to be administered by SLC. The others seem to be referred to as mortgage style and 97 is managed by HSL and 99 and 01 by Erudio. Does this mean that 97, 99 and 01 will get written off after 25 years but not 98. Interestingly I have had an unsolicited settlement offer from Erudio (50%) so think they may be panicking I will never start repayments? Next question is why is my 98 different to the others? Thank you for any help in advance.

Ed-1

bettyswoobs wrote: »

I have four separate loan accounts from years 97, 98, 99 and 01. My 98 one seems to be referred to as Plan 1 and its paperwork seems to be administered by SLC. The others seem to be referred to as mortgage style and 97 is managed by HSL and 99 and 01 by Erudio. Does this mean that 97, 99 and 01 will get written off after 25 years but not 98. Interestingly I have had an unsolicited settlement offer from Erudio (50%) so think they may be panicking I will never start repayments? Next question is why is my 98 different to the others? Thank you for any help in advance.

If they were all for the same course they should all be mortgage style.

Col2018

Hello, due to illness I have to repay my student loan using both Plan 1 and Plan 2 because my tuition fees were both £3,500 and £9,000. Because of this, I repay plan 1 when my earnings are above £15,000 and plan 2 when earnings above £25,000, I think. At the moment I am currently earning above £15,000 and if I stay with my current employer, won't earn above £25,000 for atleast 5 years time unless spontanous promotions.

My question is- I can afford to repay my plan 1 loans off in full which is around £5,750 but i am unsure if i should do this or not. Would you recomend paying my plan 1 loan of around £5,750 off in full so it does not increase due to interest and repay my plan 2 loan off in installments once my earnings are above £25,000 (because lets face it, i am unlikly to repay the £18,000-£20,000 loans back due to the high £9,000 tution fees?

Hope you understand.

Thank you

silvercar

chriswright83 wrote: »

Last year a friend and I were both resitting a module on our part time foundation degree in web technologies.

That was the only module we needed to study that year to complete the course.
we both applied for student finance for this.

He received finance. I got contacted later in the year to be told that i didn't qualify for finance as i wasn't taking enough modules that year.
I can't afford to pay the £800 for the module and i find it crazy that if I can't, then I can not graduate?
Surly this must be a scenario that happens somewhat regularly and people should be covered in this scenario.
I'm now in the situation where I have spent close to £20k on a course and cant graduate unless i can magically produce money I don't have.

Has any one been through a similar situation or have any advice. I would be incredibly grateful to get some feedback

Logically, if completing the degree is going to mean that you will earn more than £800 in total over the rest of your working life, it makes sense to borrow the money (family, credit card, overdraft, bank loan).

Paul15

Hi, I'm potentially looking at applying for a postgraduate loan for a course starting April 2019, however I will be remortgaging my house at the end of the 2 year fixed term period in December 2019. How could applying for this loan negatively affect my remortgaging? Any clarification would be appreciated.

swindiff

Wonder if you can help with this one?

My step-son wants to go to university next year so will be taking out a student loan. My understanding is that he can get a Student Loan for the full amount of the course, £9250/year.

However, he will need to live so will be getting a student maintenance loan as well as a part time job so that he can pay for accommodation and living expenses. This is known as a "maintenance loan for living costs" and how much he can get will depend on our household income.

I earn just over £40k/year and my wife just under £20k/year. If I put £60k into the online calculator it says he would be entitled to a maintenance loan of £4331/year. However I notice that the criteria is taxable household income.

I salary sacrifice for my pension down to £27k/year so is it legitimate for me to put this figure into the calculator making out household taxable income £47k? This would increase the maintenance loan he was entitled to upto £5954/year. This should just about pay for his accommodation.