Help With Student Loans - HERE!

Lokolo

Loans get written off after 25 years ( i think )

mayb_2

Like a lot of taxes these take no account of your current situation as far as I can see. You may find it a good idea to talk to a debt advisor (CAB?) and see if you can get a handle on some of the issues dragging you into debt right now. £30,000 still has a long way to go if you are paying a mortgage on your own etc. Have you considered a lodger? Under the rent a room scheme you used to be able to charge a fair rent without being subject to tax - you can ask the tax office for information on that one. I did it for a time to help my son through university - on our income my son had to pay full fees - the fact that all of our income was accounted for made no difference.

Lauzy

Hi

Need some help. ~I have got the usual student loan debt, and I am considering continuing my study to do a masters degree.

If I move to Scotland will it be free?! Im desperate to not pay any more out for education...If I did my masters I want to do a part time professional course at uni also if I had to get a graduate loan could it be deferred for 3 years?!


thanks in advance

The_One_Who

Lauzy wrote: »

Hi

Need some help. ~I have got the usual student loan debt, and I am considering continuing my study to do a masters degree.

If I move to Scotland will it be free?! Im desperate to not pay any more out for education...If I did my masters I want to do a part time professional course at uni also if I had to get a graduate loan could it be deferred for 3 years?!


thanks in advance

No, it won't be free if you move to Scotland. SAAS pay only for first degrees, and then there are residency requirements too. I don't really know anything about funding for Masters courses though.

PAD_2

does anyone know what the intrest rate for the 08/09 student loan will be?

Helix

PAD wrote: »

does anyone know what the intrest rate for the 08/09 student loan will be?

It hasn't been announced yet as far as I know. I think it gets announced sometime this month.

RoyalSwank

Hi, Hope someone can help here.

My friend has the old style Student Loans and she says you can defer by sending in a company headed letter declaring that you earn below the threshold. She says that if she adjusts her earnings on the letter so as to be under the deferment threshold her boss will still sign it for her even though she earns above the threshold.

This seems fraudulent to me. She does have some concerns that the Student Loans Co might contact her HR department to investigate, but feels this is very unlikely (and I have to agree).

Does anyone know what the chances of having a deferment investigated are?

I'm certainly not condoning this and could warn her if anyone knew anything about this or had any details regarding the SLC's policy on this. I've managed to convince her to delay doing this until I've got some advice from this board.

Also, if she does decide to repay, could she negotiate a lower monthly payment if she claims she can't afford the current repayments?

Let me know if this query is best directed elsewhere on the forum (I'm usually over on the gambling board making £££ )

obscure_eclipse

Yet another plea for help please!

I've previously studied before (3 years BA), course started in September 2001 and I completed the first year (April 2002). In September 2002 I became very ill and suffered severe depression which put me on councilling and in receipt of anti-depressants and so I decided to take the year out and return in September 2003... come September 2003 I was still no better and decided to leave the course completely.

Now, here's the tricky part...

I have since decided to try and go back to Uni studying a different course (2 year Foundation Degree) and I was accepted - to start September 2008. I have contacted my LEA for information about funding but they have said I may not be entitled to any help towards tuition fees because I have studied before. It looks as though I may have to stump up the cash, ~£3100 for each year of study... Thats way beyond my means at the moment and I'm still £3000 in debt with the bank. Any ideas what I can do (apart from robbing a bank)?

I'm going to try and plea my case regarding my illness, hopefully they will be sympathetic and try and help me out.. Although I studied a BA(hons) I didnt get any qualifications from it so I'm not going backwards if you get my drift..

I'm tinkering with the idea of taking out a bank loan, this could prove remarkably difficult because as a student I'd be unable to work to meet the monthly repayments. I have been told I will be allowed the Maintenance Loan of ~£4500 and could in theory deduct the tuition fees from that... but how do you survive on a full time course with only £1500 for the year?

My heart feels very heavy today... Infact.. I'm gutted.. I've found the perfect course for me and cannot think of a way to fund it.

roxalana

I think there is a possibility you might get tuition fees for some if not all the years of your current course. Speak to your LEA about making a 'compelling personal reasons' case with regards your previous study. Unfortunately though it doesn't go on how sympathetic the person dealing with your case - you have to provide specific evidence (your LEA can advise you) and then the LEA will be limited by the government regulations as to what they can do. I can't advise you here because the rules may have changed since I worked for the LEA.

However, given your current situation would it not be best to be in a better position financially before you go to Uni? Financial difficulties will not be the best thing to keep you in good mental health during your course and if you drop out again I don't believe you will have any chance of getting tuition fee help in the future. Perhaps it would be best to wait?

Lokolo

I think when they say 'you have studied before' they m ean completing the course, did you make it clear that you didn't complete it?

All I know is that if you are going backwards (in terms of level) then you will not be entitled. So I am not really sure if it applies to you as you didn't complete the course.