Help With Student Loans - HERE!

Ed-1

mrCBH wrote: »

I applied for a PG student load in 2016 when the scheme first commenced. The terms I signed upto stated that the loan wouldn't need repaying until April following completion of the course (I've got a copy of the t&c's). Course finishes in summer 2019 and so shouldn't need to repay until April 2020.

Just received a letter stating that my repayment's will start in April 2019. I phoned SFE to discuss but i'm told that their system has my course as 2 years and not 3, so there is nothing that can be done and i will need to start repaying in 2019. I have been through the t&c's of the loan agreement with them, only to be told that because of a bug in the system during the first year these loans were available there is nothing they can do regarding when the loan is due for repayment.

Surely this can't be right? I have a signed loan agreement which clearly states when the loan will be become payable.

When the loans enter repayment isn't in the "loan agreement" - it's in the regulations (and these can change - although they haven't in this case):

http://www.legislation.gov.uk/uksi/2017/831/regulation/9/made

(2ZA) Subject to paragraph (2C) a postgraduate master’s degree loan borrower is not required to repay any part of the postgraduate master’s degree loan before the start of the following tax year commencing on 6 April after a postgraduate master’s degree loan borrower ceases to be eligible for a loan under Part 1 of the 2016 Postgraduate Regulations or Part 4 of the 2017 Postgraduate Wales Regulations, whether by reason of having completed that course or otherwise.

(2C) A postgraduate master’s degree loan borrower is not required to repay any part of the postgraduate master’s degree loan under paragraph (2ZA) before—
(a) 6 April 2019, in the case of a loan made under Part 1 of the 2016 Postgraduate Regulations...

So your loan enters repayment on 6th April after you leave the course (i.e. cease to be eligible for support for that course).

Your loan is written off on the 30th anniversary of this date (if there is any balance left at that date):

http://www.legislation.gov.uk/uksi/2017/831/regulation/11/made

(g) in the case of a postgraduate master’s degree loan, the 30th anniversary of the date on which the borrower became liable to repay the postgraduate master’s degree loan.

Your postgraduate loan is only repayable at 6% of any earnings over £21,000:

http://www.legislation.gov.uk/uksi/2017/831/regulation/20/made
http://www.legislation.gov.uk/uksi/2018/284/regulation/6/made

If you aren't earning that then your loan entering repayment sooner is a GOOD thing as it means it will be written off earlier!

Lauren45

Hi I need help desperately!
I'm trying to work out if it would be better off for me to pay my student loan back in full now? (I have the money to be able to). So my loan was originally for roughly £1900 in 2016 and I had it for only my first year at university, however now I have checked it and the interest has gone up to make it nearly £2400. When I finish uni i will earn £23,000 basic as a nurse and therefore would not pay it back for a couple of years into working so it would acrue more interest. Because I only have a small loan is there a high chance I will pay it back but end up spending much more?

Any advice would be appreciated!

Deborahturner

I am studying veterinary nursing with companion animal behaviour.

silvercar

Deborahturner wrote: »

I need help knowing if I am still eligible to have student maintenance loan. In April 2018 I applied for the maintenance loan of which I received the reply informing me that I am eligible and will receive £8,793.00 a year. Subsequently I did not receive this money and informed that I am not eligible.

If Student Finance England assessed me in April 2018 and decided that I am eligible can I still obtain this money even though subsequently they reassess me and then decide I am not. As I started my degree in September 2018 thinking I will be loaned this money.

I would be grateful for any help and advice.

Deborah Turner

Deborahturner wrote: »

I think they reassessed me as I already have. BSc with Honours.

Deborahturner wrote: »

I am studying veterinary nursing with companion animal behaviour.

Just linking your posts together.

silvercar

Deborahturner

If your course is part-time then there is some funding for your subject, see post below:

Ed-1 wrote:

It depends on the subject. It needs to be part-time though.

Previous study rules do not apply if the current part-time course—
(i) is a course in agriculture and related subjects, biological sciences, mathematical sciences, physical sciences or veterinary sciences (or a combination of those subjects);
(ii) leads to an honours degree; and
(iii) the student begins the current part-time course on or after 1st August 2017.

Previous study rules do not apply if the current part-time course—
(i) is a course in engineering, technology or computer science (or a combination of those subjects);
(ii) leads to an honours degree; and
(iii) the student begins the current part-time course on or after 1st August 2015.

You can get a maximum of 16 years worth of part-time funding.

If it is a Bachelor degree course and you already have that qualification then there is no funding. If you don't have the qualification but have studied before then you may have maintenance loan without the tuition fees loan, but that would depend how long you studied for.

sheramber

Richard_Grant wrote: »

Hi,
HELP!!!!!
My grandson lives with us his Grandparents and has done since he was 14trs old. He is now 20yr old and has been accepted at Uni for Sep. 2019. The problem is that Grandparents household income is not considered when applying for full Maintenance Loan as it has to be his parents though he doesn't see them (how can we prove this as no professionals were involved) and they wouldn't help anyway. I have heard he can apply as estranged but all he gets is Job Seekers Allowance so do they class this as him providing for himself even though he lives with us? This is doing our heads in as we would gladly give our income and pay the extra to top loan up

Have a read of https://www.standalone.org.uk/guides/student-guide/#independent-status

and https://www.standalone.org.uk/contact/

Deborahturner

Thank you for your advice.

I have a diploma in nursing studies which I studied for from 1992 - 1995. Then I studied modules part time from 2004 - 2006 to add to my diploma to gain a BSc. Does that mean I am entitled to the maintenance loan?

Thanks.

Ed-1

Deborahturner wrote: »

Thank you for your advice.

I have a diploma in nursing studies which I studied for from 1992 - 1995. Then I studied modules part time from 2004 - 2006 to add to my diploma to gain a BSc. Does that mean I am entitled to the maintenance loan?

Thanks.

No because you already have an honours degree.

Schwerpunkt

My daughter has found that HMRC have told her employer that she is on plan 1 when in fact she is on plan 2. As a result she is overpaying her student loan by a significant amount. Who is responsible for correcting this and how does my daughter get them to do it? SLC are not helping!

Ed-1

Schwerpunkt wrote: »

My daughter has found that HMRC have told her employer that she is on plan 1 when in fact she is on plan 2. As a result she is overpaying her student loan by a significant amount. Who is responsible for correcting this and how does my daughter get them to do it? SLC are not helping!

It is her responsibility to tell her payroll (through a starter checklist) which plan type loan(s) she has. The default if this isn't filled in is plan 1.