Help With Student Loans - HERE!

BlueFleur

Thanks for that Lokolo. I thought it was something along those lines. I can't remember my password either :rolleyes: I am very disorganised at the moment, as you may have guessed

Re: changing your bank details, this is very easily done in my experience. The SLC has sent me bank detail confirmation sheets and a return envelope with nearly every correspondence.

the_labmanGib

Hi,

I've been living out of the UK now for 2 years after graduating. With one thing and another and being stupid over things, i never informed the SLC about my move. While i was in the UK before moving my salary was under the 15K needed for repayments and it was also the situation once i moved abroad to Gibrlatar.

I've now moved jobs and my salary has taken quite huge jump, in fact its now 13K over the 15K requirement and one thing and another i really want to get back in contact with the SLC to start paying this off asap. Thing is will they give me a really harsh penalty? I would be willing to make a small penalty fee, but not the kind of making em pay the loan back in one go. That would be near impossible for me.

The thing is, i've read that the repayments would be 9% of the amount over the 15K. That would mean that i would be paying £1170 ?? Is that correct? That would not leave me with very much from my monthly salary. Monthyl salary here is curently £1,700. To make matters worse i have also purchased a property, so a lot of my salary goes towards that mortage. How can they expect anyone to pay this amount back?

Any help or guidance is very much appreciated, and am really regretting not sorting this out before i left the UK.

Thanks
Mark

sheashea1

mayb, I totally agree the post my lokola was plain rude and unnecessary. That is not the spirit in which we are suppossed to help each other!

Lokolo

the_labmanGib wrote: »

Hi,

I've been living out of the UK now for 2 years after graduating. With one thing and another and being stupid over things, i never informed the SLC about my move. While i was in the UK before moving my salary was under the 15K needed for repayments and it was also the situation once i moved abroad to Gibrlatar.

I've now moved jobs and my salary has taken quite huge jump, in fact its now 13K over the 15K requirement and one thing and another i really want to get back in contact with the SLC to start paying this off asap. Thing is will they give me a really harsh penalty? I would be willing to make a small penalty fee, but not the kind of making em pay the loan back in one go. That would be near impossible for me.

The thing is, i've read that the repayments would be 9% of the amount over the 15K. That would mean that i would be paying £1170 ?? Is that correct? That would not leave me with very much from my monthly salary. Monthyl salary here is curently £1,700. To make matters worse i have also purchased a property, so a lot of my salary goes towards that mortage. How can they expect anyone to pay this amount back?

Any help or guidance is very much appreciated, and am really regretting not sorting this out before i left the UK.

Thanks
Mark

Ok I would ring them as soon as possible, best to get things sorted out sooner than later. I am not sure what happens if you move aboard.... I say that, but google is awesome:

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingFrom1998/DG_10034872

Hope that helps.

You will be paying 9%, if you're monthly income is £1700 you will pay £153 to SLC each month, which isn't that much luckily, but every little help.

sheashea1 wrote: »

mayb, I totally agree the post my lokola was plain rude and unnecessary. That is not the spirit in which we are suppossed to help each other!

lokola = lokolo? and I assume you are saying you agree that my post was plain rude and unecessary? Unless you are going to be productive and help here, please don't post. As you said, the spirit here is to help each other!!!!!!!!!!!

peppstudent

Hi!

I've just discovered this forum in a complete panic and would be SO grateful for any advice you could give me.

Last week I was accepted to my dream university in the USA to complete my doctorate in clinical psych. I had found a loans company called Sallie Mae, that provided loans to international students with a guarantor from the UK... all others I've come across need a US guarantor. So having accepted my place, I logged onto Sallie Mae to find out how to apply... only to find that they have just stopped offering this loan, and now require US cosigners for all loans.

I am looking to borrow £100,000 to cover my tuition fees and living expenses over the course of the 4-year degree. My parents are happy to act as guarantors... they have some loans out against our UK home, but own a house in Florida outright (about £80,000), which they would be willing to take out a mortgage on. The only problem with a mortgage is that I'd have to start paying it back straight away while still studying... most student loans let you defer payments until graduation.

I'm so stressed out... after thinking I had funding in place, it's now disappeared. I am not going to let this stop me attending this university this year, and would be so grateful for any advice you can offer.

Many thanks.

caffpilch7

Hi....I wonder if you can help with this.....
My student loan reps are currently up to aroun £65 a month. Which is high enought for me! I recently got one of my friends a job where I work and my company pay a bonus of £750 for finding the person. Work have payed my money on to my pay roll silp and as such it has been paid to me as my wages. I understand that this money is taxable as it is a bonus, BUT, surely the SL company can't increase my payment (which they have done to £145!) just for this month, cos it is a bonus and nothing to do with my salary.

So of the £750 I was supposed to get, I actually took home £400 of it! Which is obv very nice, but I don't understand why so much of it was taxed and given to student loans.

Is there some way to claim some of it back from SL's?

Ta very much
Catherine

caffpilch7

Hi....I wonder if you can help with this.....
My student loan reps are currently up to aroun £65 a month. Which is high enought for me! I recently got one of my friends a job where I work and my company pay a bonus of £750 for finding the person. Work have payed my money on to my pay roll silp and as such it has been paid to me as my wages. I understand that this money is taxable as it is a bonus, BUT, surely the SL company can't increase my payment (which they have done to £145!) just for this month, cos it is a bonus and nothing to do with my salary.

So of the £750 I was supposed to get, I actually took home £400 of it! Which is obv very nice, but I don't understand why so much of it was taxed and given to student loans.

Is there some way to claim some of it back from SL's?

Ta very much
Catherine

robnye

caffpilch7 wrote: »

Hi....I wonder if you can help with this.....
My student loan reps are currently up to aroun £65 a month. Which is high enought for me! I recently got one of my friends a job where I work and my company pay a bonus of £750 for finding the person. Work have payed my money on to my pay roll silp and as such it has been paid to me as my wages. I understand that this money is taxable as it is a bonus, BUT, surely the SL company can't increase my payment (which they have done to £145!) just for this month, cos it is a bonus and nothing to do with my salary.

So of the £750 I was supposed to get, I actually took home £400 of it! Which is obv very nice, but I don't understand why so much of it was taxed and given to student loans.

Is there some way to claim some of it back from SL's?

Ta very much
Catherine

unfortunately, the answer is yes....... you pay back 9% of what ever your wage is for that month, so if one month you have bonus/overtime, you will pay back more thanif it was a standard month (at least that is what my neice has found)

Beeblbrox

I quit uni in 1998, having 3 student loans from 1995 onward. Since then I have never reached the minimum repayment income requirement and have been deferring ever since (probably end up getting the 25 year cancellation unfortunately). However I did a few years ago inherit a property which last year I liquidated. Does having a relatively large lump sum mean that I am required to repay my loan? I can only find reference to annual income on the online government documentation (which is rather evasive I found - you have to believe you are entitled to deferment before it tells you what exactly what the repayment income requirements actually are).

Also are people here aware that for loans relating to courses which began before 1998 the income requirement is actually significantly higher - currently approx. £25,000 fyi which I hope is useful to somebody.

Furthermore I can't stress to ppl deferring how important it is to keep address information with the company up to date is. I failed to do so last year moving to my new address and the first contact with the company I have had is from their debt collection dept. to whom I explained the simple fact I had forgotten to notify my new address and that I felt I was still entitled to deferment due to extremely low income. I was initially informed that 'we don't care what you think your rights are'! After some arguing have been told that a replacement deferment form will be sent to me at my new address. I'm not optimistic as you can imagine...

wcmcallister

Hi all,

I am due to graduate in June this year from a Scottish university. By then I will have acrued around £18k worth of student debt. I have secured a job with a salary of £30k; and although this is a good salary, I am concerned about having to repay student loans. In first year I split up with my long term partner, and consequently had to pay a large mortgae etc myself. I've had to work full-time throughout my time at uni, and gradually have sunk deeper and deeper into debt, almost £30k excluding SL. So, although my income will be pretty good, I need to prioratise my debts, and was wondering if I will be able to defer repaying my student loans. I've even heard of people having their loans written off.

Could anyone shed any light on the above query/

Thanks,

Walter