Help With Student Loans - HERE!

Parttimestudent

Hello

I study with open uni and I am eligible for the max amount of part time maintenance loan due to disability and this has been awarded based on 50% intensity.

I am contemplating signing up for another unit with start date of FEB 2020 so that i am doing 120 units rather than just the 60 which means I’d be at 100% intensity.

What would this mean for my maintenance loan amount ?

At 100% intensity the full amount is £8944

At 50% I am currently receiving £4472.

The Feb unit would end September 2020.

This was on student finance website
If your course starts between
1 August – 31 December
It will run till
1 September – 31 August

Starts
1 January – 31 March
Run till
1 January – 31 December

As I have already started a unit I see my academic year is normal ending in September but the unit I’m adding in may mean my academic year will run until December 2020 rather than September.

Any idea what this will mean financially please

Colly83

Are there any updates to the live student loan portal thing that was supposed to be coming? I was due to finish paying mine off late this year (sorry, 36 and with an old style small loan...) so was holding off on the Direct Debit thing in the hope that would be easier, but I've just got a new job which would mean paying it off sooner so I'm wary of overpaying. Any tips, or should I just ring them and start the DD?

silvercar

Colly83 wrote: »

Are there any updates to the live student loan portal thing that was supposed to be coming? I was due to finish paying mine off late this year (sorry, 36 and with an old style small loan...) so was holding off on the Direct Debit thing in the hope that would be easier, but I've just got a new job which would mean paying it off sooner so I'm wary of overpaying. Any tips, or should I just ring them and start the DD?

Personally, I would phone them up and find out how much it would be to clear the loan then stick that on a 0% interest credit card and pay it off before the 0% interest ends. That way you can start the new job with no deductions and don't have to get involved with the mess that is sfe going forward.

ceewash

My son's loan repayment (£131) is calculated on his earnings from China and this is about £11 a month more than the fixed monthly repayment(£120.60). Should he just not bother filling in the forms and accept the fixed repayment amount?

silvercar

ceewash wrote: »

My son's loan repayment (£131) is calculated on his earnings from China and this is about £11 a month more than the fixed monthly repayment(£120.60). Should he just not bother filling in the forms and accept the fixed repayment amount?

Yes.......................

ceewash

silvercar wrote: »

Yes.......................

Thank you. Short and sweet.......

AllyRG17

Please can you advise what to put in the annual income box if you are not PAYE, ie self employed or run a ltd company?

Savvy_Sue

Surely you use whatever figure you are returning to HMRC for your annual tax return? Read the guidance for whether it's your NET income (after tax), or your gross. The Ltd Co is all but irrelevant, it is YOU as an individual who is liable for the payments, not the Ltd Co, so what income are you drawing?

If you use an accountant, this would be a valid question to ask them, IMO.

manda1205

Hi, wonder if anyone can advise please? My OH has a student loan, split with 2 companies, of around £10,000, he graduated in 2000, earns around £27,000 a year and has always deferred his loans. Recently he has had offers for one half to clear this for £1000.
We have recently moved in together and renting our old houses out. He still has a mortgage but will make around £1800 a year profit from the rent.
He is worried that this will mean it takes him over threshold as they might not take his mortgage payments into account.
Should he take offer of £1000 to clear the half now?
Will they take the mortgage payments into account? Or just his profit?
He also has 3 years to go until he is 50, will they be written off at 50 anyway?

Thanks for any advice.

crazygirl

I'm considering a part-time degree with Open University but I need some help with working out if I'd be able to get any funding.

I think I've used up 3 years of full-time funding back in the early 2000s but dropped out and don't have a degree. I had funding in England if that makes a difference.

I now live in Wales and can't work out if I'd be able to get any sort of loan for a part-time degree. Can anyone shed some light on this for me, please?

Thanks.