Help With Student Loans - HERE!

DotCapel

Hi,

I'm planning on attacking my student debt early, to reduce the interest and therefore the amount I will pay back from my loans, and have even taken a reduced loan this year (I'm in my fourth year of Uni). However, if my student debt is wiped before I pay it off (Labour have suggested they would, but who's to say whether they will keep to that), what will happen to the extra instalments I've paid (on top of the 9% above £25k as per normal?). Would I have effectively thrown away that money, or would I get reimbursed it? Or rather, what is the more likely scenario?

silvercar

Crystal Ball territory, but I would say it more likely that you will pay off your loan as a successful doctor than Labour wiping out student loans.

mitch2018

1998, 1999 and 2000 loans

A year of being in dispute with Erudio. I currently defer every year but did have arrears I was paying off every month. I completed my deferement form as usual last October 2017 and sent to thesis and Erudio. SLC wrote back saying not enough evidence, however I believe there was enough evidence. as I was living with partner and looking after my two young kids. (i moved out with kids and separated from partner after this which makes things more complicated and probably is the cause of the termination in fact which makes me so mad, as I moved I had to have benefits and wait for all forms etc)

I got a letter in Nov saying they had terminated my account as I had not deferred. I wrote back straight away asking what was going on and why, as I had sent in information. They eventually told me that I had not provided enough evidence. I had no responded to the initial letter requesting more information because of my situation of relocating and splitting up etc - an extremely stressful situation - plus I dont think they provided much time to do so anyway -and in any event I feel that I had already provided all evidence that showed I was not earning at that time.

I sent a complaint letter in Dec and their response in Jan ignored this. I also requested information about the arrears as this was part of the reason they dsay they terminated my account. My question is how my money was being applied to my account, as in some statements my arrears went up not down and does not apear to have gone down in several years of paying money each month. Why would this be? And they still a year later have not provided evidence of the contrary. There are two issues here, but I don't now know what to, as I feel I still have a case - perhaps I dont? - financial ombudsman letter said they could not help but did not provide any further details.


I really want to fight this but theyre demanding the full amount back, whereas soon I would have been due to pay it off. I feel Erudio has not responded to my points above and as though they are ignoring these points.

I would have been hapy to pay of all outstandign arrears in order to keep the accounts reinstated.

Any advice please???

rubberduck75

Hi, first time poster here.

I have a query about repayment of my pre-1998 mortgage-style student loan, which now has a balance of around £8000.

I graduated in 1997 and have deferred every year since, however this spring I will be earning enough to start repaying for the first time. I gather that the loans are written off after 25 years from the date of the last loan installment - for me this was September 1996. My question is: once I start repaying, will the balance get written off in September 2021 (and therefore I'll only be repaying about half of it?), or will I need to repay in full since I've started to repay? I can't find any info on this.

Can anyone offer some solid advice on this? Thanks in advance

Pham76

Hi I’m signing up for pgce in September and only need a loan for the course fees £9250.
Is it worth getting a student loan or would I be better off getting a
0% credit card and paying it off with that.
I’ve read martins page on student loans but all the examples are for bigger amounts and he basically says don’t bother paying it off in full unless you’re a really high earner, but what about smaller amounts that are likely to be paid off in full within the 30yrs?

Savvy_Sue

if you get a 0% credit card you will have to pay that off at the time repayment is due regardless of your income at that time.

Is the same true of a student loan?

silvercar

rubberduck75 wrote: »

Hi, first time poster here.

I have a query about repayment of my pre-1998 mortgage-style student loan, which now has a balance of around £8000.

I graduated in 1997 and have deferred every year since, however this spring I will be earning enough to start repaying for the first time. I gather that the loans are written off after 25 years from the date of the last loan installment - for me this was September 1996. My question is: once I start repaying, will the balance get written off in September 2021 (and therefore I'll only be repaying about half of it?), or will I need to repay in full since I've started to repay? I can't find any info on this.

Can anyone offer some solid advice on this? Thanks in advance

The balance gets written off at the appropriate time, irrespective of its level.

I know for the newer loans the clock starts ticking when the loans start being required to be repaid, generally the April after graduation, so do check the date.

Roseleda12

Hi there..
My Niece came to live with us 4 years ago from an abusive home,
She is now looking to attend university this year so i was wondering if we could get any help with student loans as she isnt our child.
i work part time with around 10.5k per year and my wife is registered disabled

silvercar

Roseleda12 wrote: »

Hi there..
My Niece came to live with us 4 years ago from an abusive home,
She is now looking to attend university this year so i was wondering if we could get any help with student loans as she isnt our child.
i work part time with around 10.5k per year and my wife is registered disabled

Have you adopted her? If so it may be based on your income. Otherwise, with estranged parents, she should get the max allowed. TBH on your income she would probably also get the max. It's just a question of what needs to be declared on the application..

Unicorn_cottage

My partner's student loan has been sold (Contingent Student Loans 2 2007-2009) - would an early settlement payment be cheaper?