Help With Student Loans - HERE!

ktrobinson

I understand that but my question is, does it still get wiped even though you have started repaying and a balance remains?

silvercar

ktrobinson wrote: »

I understand that but my question is, does it still get wiped even though you have started repaying and a balance remains?

Yes, the outstanding balance is all wiped. This applies as long as you have kept to the terms ie paid repayments when required to.

JohnMl88

sheramber wrote: »

Are you in England?

Yes, London.

anonymoose123

Hi,

I'm in a fairly unique position with student loans and was wondering if anyone could advise:

I completed an Undergraduate course at Newcastle University from 2011-2014. This was a Plan 1 course and I took out loans for tuition and maintenance, totaling about £22k for the three years.

I then worked for two years in the UK and abroad. I came back and completed a 2-year Master's Degree in Architecture at the University of Westminster, graduating in July 2018. Architecture courses allow you to continue the Postgraduate degree on the same funding as your Undergraduate degree (if it's within 3 years of finishing undergrad) so I was lucky and continued to pay Plan 1 fees, I also took out a maintenance loan. As of last September my balance on the site is just over £40k.

As part of becoming a professional architect we have one more course, the Postgraduate Diploma in Professional Practice, most commonly called RIBA Part 3. I will be starting in September 2019 and the fees are about £3200 (it's a one-year part time course so I will be working full time throughout).

My question is, can I apply for a loan for the tuition fees? Is it a undergraduate loan or a postgraduate loan and how much would I be able to apply for? Based on my current loan balance being around £40k and current salary of £34k, and my repayment term is 25 years as it's a plan 1 loan, My maths seems like I will probably have some portion of the loan written off, so any extra borrowing at this point would not be paid back? Unless i got a massive salary increase or something.

Thanks in advance for the advice and sorry if this has been addressed already but I couldn't find any answers specific to RIBA Part 3.

silvercar

My question is, can I apply for a loan for the tuition fees? Is it a undergraduate loan or a postgraduate loan and how much would I be able to apply for? Based on my current loan balance being around £40k and current salary of £34k, and my repayment term is 25 years as it's a plan 1 loan, My maths seems like I will probably have some portion of the loan written off, so any extra borrowing at this point would not be paid back? Unless i got a massive salary increase or something.

There is funding for RIBA 3 as a post graduate degree. See here:

https://www.westminster.ac.uk/study/fees-and-funding/funding/postgraduate-student-funding

The downside is that repayments for post graduate funding are separate, so you would be paying 6% of earnings over the threshold. You may well find that you would pay that loan off in full, so would be paying a hefty interest rate. It may work out cheaper to borrow elsewhere.

SandyShores

I completed my degree in 2017 and have been paying back via my employer since 1 April 2018.

I know that repayment updates were only being sent by HMRC to the SLC annually, but I had hoped to see some change to my balance by now - its still stating the total amount owed.

Does anyone know when the HMRC updates usually get updated on my student loan account please? I don't know if they usually appear a bit later in the year? I had hoped that with the new weekly updating it might have been a bit quicker.

Thanks.

ps part of the reason I'm asking is that I want to make sure they haven't missed updating my account in error.

redherring1

Hello,

Please help if you can! I was wondering if anyone had any idea about funding in Scotland for Social Work Postgraduates? There are bursary's but these are not always guaranteed. Therefore does anyone else have any tips for support?

Thanks

sheramber

SandyShores wrote: »

I completed my degree in 2017 and have been paying back via my employer since 1 April 2018.

I know that repayment updates were only being sent by HMRC to the SLC annually, but I had hoped to see some change to my balance by now - its still stating the total amount owed.

Does anyone know when the HMRC updates usually get updated on my student loan account please? I don't know if they usually appear a bit later in the year? I had hoped that with the new weekly updating it might have been a bit quicker.

Thanks.

ps part of the reason I'm asking is that I want to make sure they haven't missed updating my account in error.

Since this is a really busy time of year for HMRC with all the end of year records coming in can be November until all records are up to date.

[Deleted User]

redherring1 wrote: »

Hello,

Please help if you can! I was wondering if anyone had any idea about funding in Scotland for Social Work Postgraduates? There are bursary's but these are not always guaranteed. Therefore does anyone else have any tips for support?

Thanks

Wouldn't you get a postgraduate loan? Not many get the bursary.

Kez200

I've been approached by a young lady who wants to go to University and has excellent A level results already. She says she thinks she cannot afford it and this is why. Can you confirm if my advice is right?

She was removed from one parent by social services aged 16. She is estranged from this parent but hoping to make re-connection as she gets older as she feels she is now no longer at risk. She went to live with her other parent and did A levels - her results were excellent (all academic course A grades). Soon after her results, she moved in with her boyfriend who has a good job and, along with her work in a supermarket, they are fully self sufficient in a rental property. However, if she were to go to University her wage would stop and it would be harder financially (although not impossible because they have some savings which had been earmarked for a house deposit).

If she goes to Uni in September 2019 (she is thinking of applying now to her local University and crossing her fingers she gets a late place as then she won't have to pay extra rental costs as they are settled where they are) they will have been self sufficient for 2.5 years. In addition, her step parent where she lived 16-18 refuses to sign any Student Loan paperwork.

So, I think the options are....

1. Wait and go to Uni in September 2020. Apply in normal round by January 2020. Get SL for tuition fees plus maintenance based on her boyfriend and her income because they will have been self sufficient for 3+ years If she gives up work for Uni which she will have to (or go part time) then this total is likely to be about £30k, or

2. Try to go September 2019. Get tuition fee loan plus the basic maintenance help only as her non-estranged parental unit won't fill out the paperwork as she hasn't been independent for 3+ years.

Am I right in my conclusion?