Help With Student Loans - HERE!

sheramber

redvalley wrote: »

Hi. Not sure if this is the correct thread but can you help?
We signed our 18 year old daughter up for a 12 month Pitman course using a payment plan. However due to suffering panic attacks she was unable to complete the course after 3 months. The college has said that we have to continue with the monthly payments and they will hold the course open until she “recovers”.

Is this correct?

Thank you

If you are paying a payment plan then you have been given a loan to cover the costs. That amount of the loan is credited to cover the college fees.

So the fees have been paid for and you are now repaying the loan. The loan will not cancelled because your daughter is no longer attending the course.

BGLP2018

Hi, I started univeristy in September 2016, but withdrew halfway through the year leaving me with a loan of £4500. As of today this has risen with interest to £5060.80.

I want to know, as it is such a low amount, am I better off paying it off in full immediately to avoid interest, or paying it off as per the usual method over a number of years (I'm guessing as it's so small I will end up paying it all off anyway!).

What would you recommend?

katrafferty

Hi, I'm 21 and about to finish uni so I will have almost £50,000 of student debt to pay off. I am starting a teacher training course from September, this again will cost another £9000 for tuition fees however I will get a bursary of around £15,000. My question is should I still apply for the maintenance loan to help me out? I would get between £5000-£6000 and the likely hood of every paying the entirety of my student debt off isn't great so should i just take as much money as I can now?

Thanks in advance

Ed-1

katrafferty wrote: »

Hi, I'm 21 and about to finish uni so I will have almost £50,000 of student debt to pay off. I am starting a teacher training course from September, this again will cost another £9000 for tuition fees however I will get a bursary of around £15,000. My question is should I still apply for the maintenance loan to help me out? I would get between £5000-£6000 and the likely hood of every paying the entirety of my student debt off isn't great so should i just take as much money as I can now?

Thanks in advance

Yes. Think of student loans as grants and repayments as a tax.

dannyfitz1995

Some help would be hugely appreciated.

I finished university in June 2018 and so my repayments are due to start in April 2019.

I’m currently travelling around South East Asia, and have been since October 2018 and did not inform SLC (my bad, but I didn’t know I had to) and now I’m reading horror stories about non compliance and other penalties.

I have not been working whilst travelling anywhere, and have funded this trip with my own savings from previous employment along with some money from my parents.

I am only just realising I have messed up as my Mum text me to say she has received a letter from Student Finance saying they do not have my current details.

I am currently in Vietnam, but in April next month I will be heading to Australia on a working holiday visa (I’m not ready to come home yet).

Please can somebody advise me on how to proceed with this?

Thank you!

JoJane

As you offered!
Could you please help and would be very grateful.
My daughter has been offered a place at Laine Dance and Theatre college and we are applying for a DaDA, as it’s a diploma course and she is 18 yrs old.
Although I live with my partner, we are not married and he is not Dad.
He has never paid for my children and we have a rental property (which used to be my home) and I get to keep the rent after paying mortgage, about £500, which on top of my part time job pays for my kids.
On the form it states household income and reluctant to add him, as his salary is high and seems unfair.
What do I have to do and happy to provide bank statements to support info.
Thanks

[Deleted User]

JoJane wrote: »

As you offered!
Could you please help and would be very grateful.
My daughter has been offered a place at Laine Dance and Theatre college and we are applying for a DaDA, as it’s a diploma course and she is 18 yrs old.
Although I live with my partner, we are not married and he is not Dad.
He has never paid for my children and we have a rental property (which used to be my home) and I get to keep the rent after paying mortgage, about £500, which on top of my part time job pays for my kids.
On the form it states household income and reluctant to add him, as his salary is high and seems unfair.
What do I have to do and happy to provide bank statements to support info.
Thanks

Household income means yours and his income, no matter that you state he doesn't pay for her. You are a household.

silvercar

BGLP2018 wrote: »

Hi, I started univeristy in September 2016, but withdrew halfway through the year leaving me with a loan of £4500. As of today this has risen with interest to £5060.80.

I want to know, as it is such a low amount, am I better off paying it off in full immediately to avoid interest, or paying it off as per the usual method over a number of years (I'm guessing as it's so small I will end up paying it all off anyway!).

What would you recommend?

If you think you will pay it all back then it makes sense to clear it early if you can. However, if you think you will go back to university at any time in the future then you shouldnt pay it off as your second stab at uni will mean you will eventually be paying 9% of salary whether you clear the current loan or not.

silvercar

dannyfitz1995 wrote: »

Some help would be hugely appreciated.

I finished university in June 2018 and so my repayments are due to start in April 2019.

I’m currently travelling around South East Asia, and have been since October 2018 and did not inform SLC (my bad, but I didn’t know I had to) and now I’m reading horror stories about non compliance and other penalties.

I have not been working whilst travelling anywhere, and have funded this trip with my own savings from previous employment along with some money from my parents.

I am only just realising I have messed up as my Mum text me to say she has received a letter from Student Finance saying they do not have my current details.

I am currently in Vietnam, but in April next month I will be heading to Australia on a working holiday visa (I’m not ready to come home yet).

Please can somebody advise me on how to proceed with this?

Thank you!

Get in touch with slc and explain.

silvercar

JoJane wrote: »

As you offered!
Could you please help and would be very grateful.
My daughter has been offered a place at Laine Dance and Theatre college and we are applying for a DaDA, as it’s a diploma course and she is 18 yrs old.
Although I live with my partner, we are not married and he is not Dad.
He has never paid for my children and we have a rental property (which used to be my home) and I get to keep the rent after paying mortgage, about £500, which on top of my part time job pays for my kids.
On the form it states household income and reluctant to add him, as his salary is high and seems unfair.
What do I have to do and happy to provide bank statements to support info.
Thanks

You have to include him, not to do so would be fraud. He is part of your household and the rules mean his income is taken into account.

The only other option would be for your daughter to go and live with her dad and apply for student finance from his house.