Help With Student Loans - HERE!

Sonya_Rose

Hi could I have some help please! My daughter went to university in September 2015. She managed a month, then came home, her father had just died.
I rang Student Finance to ask if there was an outstanding balance to pay. They said they couldn’t talk to me, fair enough, so I asked for a letter to my daughter. I letter arrived January 2016 talking about an overpayment of a grant, no mention of the loan. Last week my daughter received a letter with the first term loan and interest applied every month since. At the student rate that Martin has talked about. Not the earning under £25000 rate. Student finance say they is no appeal process, we have to pay and the debt keeps growing every month. I understand we have to pay back the amount she borrowed, but the interest is over £1000. They have sent nothing until now. I admit if my husband haven’t just died I might have chased it. It seems so wrong that they didn’t send out a statement when she left in October, and they must have known because they stopped paying her fees. Or at least at the end of her first year. There must be other people in this situation. Any ideas thanks

sciencey33

I just called SLC and got 3 years of loan payments refunded as I earned less than the threshold. My loan was taken out in 2010. Some years I want over the threshold by £20 but was I can't get any refund for those years even if more than 9% of the amount over the threshold was collected which has happened most probably as my weekly amount can be high due to being a supply teacher but low annually as not paid in the holidays. Is the info I have been given correct I can't claim anything in years I have just gone over threshold?

PICKEN

Apologies first post non MSE , My daughter went to a university but dropped out after term 1, she has since gone to a new uni and is in year 1 of 3... Student finance sent her a statement for the First uni she went to 1000 maintenance and 2500 fees... charged at 6.1% ... Now she is also paying maintenance and fees for the new uni, they said she will have 10% off salary for each of the the loans so 20% as they treating them as separate entities .. She is wondering whether to pay off the £3500 loan as she will no doubt have paid this off before the 30 years is up ... is this correct and why are her fees and maintenance not bundled ... time line 1st uni sep-dec 2017 - 2nd uni sep 2018 to date . ANY help appreciated .

Ed-1

PICKEN wrote: »

Apologies first post non MSE , My daughter went to a university but dropped out after term 1, she has since gone to a new uni and is in year 1 of 3... Student finance sent her a statement for the First uni she went to 1000 maintenance and 2500 fees... charged at 6.1% ... Now she is also paying maintenance and fees for the new uni, they said she will have 10% off salary for each of the the loans so 20% as they treating them as separate entities .. She is wondering whether to pay off the £3500 loan as she will no doubt have paid this off before the 30 years is up ... is this correct and why are her fees and maintenance not bundled ... time line 1st uni sep-dec 2017 - 2nd uni sep 2018 to date . ANY help appreciated .

They are treated as one plan 2 account. So a single repayment of 9% above £25,000 (£25,725 in 2019/20).

Ed-1

sciencey33 wrote: »

Is the info I have been given correct I can't claim anything in years I have just gone over threshold?

Yes...........

Che21

Can you give me some help, my daughter is doing her masters at Edinburgh University, she is British, and she had a loan from the co-op, but wants to change her course to part time, she would have had to start repaying her loan a month after she finished Uni, she needs 2 years experience before she can get a job in her sector so she would not be able to use her knowledge because she would not be able to get a job a month after finishing in her field of study, she is changing her course to part time, over 2 years and wants to get a volunteer job in her field so she can gain the experience, the co-op have asked for the full loan back and will not be offering this any more. How can she get finance to live and study, work part time will not cover her bills. Student finance are paying for her tuition costs only. I have incurrable cancer and financial can't help much.

[Deleted User]

Che21 wrote: »

Can you give me some help, my daughter is doing her masters at Edinburgh University, she is British, and she had a loan from the co-op, but wants to change her course to part time, she would have had to start repaying her loan a month after she finished Uni, she needs 2 years experience before she can get a job in her sector so she would not be able to use her knowledge because she would not be able to get a job a month after finishing in her field of study, she is changing her course to part time, over 2 years and wants to get a volunteer job in her field so she can gain the experience, the co-op have asked for the full loan back and will not be offering this any more. How can she get finance to live and study, work part time will not cover her bills. Student finance are paying for her tuition costs only. I have incurrable cancer and financial can't help much.

Why did she take out a loan that needed repaying immediately if she knew she wouldn't be able to and needed experience?

As a commercial loan she has no option but to repay or face the consequences. She'll need to volunteer part time and work part time and scrimp by on wages and whatever benefits she can get in addition, which would probably be universal credit. However she will be hassled non stop about finding full time work even sanctioned if they believe she isn't trying to.

Kinps

Hi, I repaid my student loan in full but have never earned over the threshold, and been in financial difficulty most of my life. Am able to claim it back?
Thanks

[Deleted User]

Kinps wrote: »

Hi, I repaid my student loan in full but have never earned over the threshold, and been in financial difficulty most of my life. Am able to claim it back?
Thanks

If you paid voluntary payments no.

Kinps

I don't think they were voluntary, they were set up as a direct debit to come straight from my account, as soon as i'd finished University. When I applied I had to give my bank details.