Help With Student Loans - HERE!

sheramber

is the welsh course for the same subject as her first degree?

https://www.saas.gov.uk/_forms/previous_study.pdf

Honours year concession
Most students who are on a degree programme will graduate with a 4 year (or 3 year if
they studied in England, Wales or Northern Ireland) honours degree. However, there will
be some instances where you choose to graduate after 3 years with an ordinary degree.
You are still eligible to apply for full support for an honours year providing:
3
 the honours year is in the same subject as the ordinary degree (you can do this at
a different university from where you did your ordinary degree);
 you have not already received funding for an honours year.

There suggestions for alternative sources of funding here

https://www.thescholarshiphub.org.uk/blog/how-get-funding-second-degree-uk

timfnash

MSE's chart suggests that with a starting salary of £30k rising to £120k in 30 years only £50k will ever be repaid. It looks to me like an initial loan of £60k would be paid back double, which could easily be the final "debt" after interest accrues.

Roughly speaking £30k is £5k above threshold, so £1800 will need to be paid each year. £120k is 95K above the threshold, so £8550 will need to be paid each year. That results in repayments of over £120k over 30 years.

Am I missing something? We are trying to decide whether to take a Student Loan for our son or look to try to raise funds another way to cover the cost of 6 years of medical training.

silvercar

timfnash wrote: »

MSE's chart suggests that with a starting salary of £30k rising to £120k in 30 years only £50k will ever be repaid. It looks to me like an initial loan of £60k would be paid back double, which could easily be the final "debt" after interest accrues.

Roughly speaking £30k is £5k above threshold, so £1800 will need to be paid each year. £120k is 95K above the threshold, so £8550 will need to be paid each year. That results in repayments of over £120k over 30 years.

Am I missing something? We are trying to decide whether to take a Student Loan for our son or look to try to raise funds another way to cover the cost of 6 years of medical training.

Apart from the crystal ball on who knows what the government will demand in repayments in 30 years time:

Your son could be earning a lot more than £120k in 30 years time. There only needs to be a period of high inflation and salaries will increase massively. If your son ends up becoming a private doctor his income could be large.

spanner74

I have a pre-1998 loan and have been deferring as I've been working part time and under the threshold. I am going full time which will tip me over (just) the threshold for repayment (irritatingly, I was due to have them written off in 2020) but I cannot find a calculator to work out how much this will be per month! Is it a fixed fee, a percentage, a fixed term??? Do I pay until the write off date? Do I have till then to pay off in full? So many questions...Please help!

Sharkey71

@NHSBSA With the focus on mental health and suicides amongst struggling students. Why is NHS bursary department selling their own errors of overpayments they themselves made in student bursaries as debts to debt recovery agents? Is there financial incentives or is it more about removing such errors from their annual inspection reports? Students will begin life as social workers or nurses will now be in even more severe debt because of their shocking policies and incompetence.

I have been corresponding for a former student who was within their staged complaints procedures and was suddenly informed they have sold her account as a debt to a recovery agency. This student received a bursary and all correspondence addressed it as her bursary yet some months later she was informed it was not a bursary it was an error and classed as an overpayment of travel allowances. They conveniently stated that correspondence was lost in their Junk mail and they had continued to post mail to a previous student home. Has anyone else had such dealings as the lady I have been representing was wanting to pay NHS business 25 a month but has been informed it has now been sold to a debt recovery agency who will set the payment or risk damage to credit history.

I just find this lack of transparency and bullying of young student nurses or social workers extremely concerning. Has anyone else challenged such structural bullying and how did they get on? I am hearing from some students who walked away from the field and some struggled with mental health through the stress of some of these agencies

sheramber

Is ti connected to this scenario?

https://www.ombudsman.org.uk/about-us/how-our-casework-makes-difference/case-summaries/715

studentnc1

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’m going to be living at home for university in September when I go back into third year, my parents struggle financially and I am required to make contributions for the house even when at uni. This means that next year they are going to be charging me the same rent as I paid to landlords when I lived out in first and second year. I pay for everything myself like I would if I was living out and living at home will probably cost more than living out. with all the contributions. I know that you get more student finance for living out, would I be able to apply for the higher rate as if I was living out?

[Deleted User]

studentnc1 wrote: »

Hi,
I’m going to be living at home for university in September when I go back into third year, my parents struggle financially and I am required to make contributions for the house even when at uni. This means that next year they are going to be charging me the same rent as I paid to landlords when I lived out in first and second year. I pay for everything myself like I would if I was living out and living at home will probably cost more than living out. with all the contributions. I know that you get more student finance for living out, would I be able to apply for the higher rate as if I was living out?

No, you'd be classed as a home student.

Sbacrylicart

Hi there,
This is a little unrelated, but I wondered if anyone can help?
My daughter attends a privately run 16+ academy, doing a three year musical theatre course.
They are not Trinity registered yet, and won't be for a good few years, as a they are quite new.
My daughter was going to be getting a PCDL loan via the co-op, but this has now gone. Is there any other private funding that students themselves can apply for, rather than myself having to get a bank loan?
Thank you

BournePower

Hi,
At uni I completed a NHS degree and was in the fortunate position to have my tuition fees covered by NHS, only leaving me with a loan repayment of £6500 for maintenance loan. With all the talk about not paying off loans ASAP, I’m guessing for myself I would need to pay off it all as quick as I can, as I’m likely to be paying way over the odds if I wait for the interest to build over next 30 yrs. I work in the NHS.
Ta!