Help With Student Loans - HERE!

[Deleted User]

DanEnr71 said:

Hi, I'm looking for some advice because my previous study is affecting my tuition loan eligibility.

I started Uni in September 2020 (BEng Mechanical Engineering) and was told by Student Finance England that I wasn't eligible for the full amount of tuition loan. They explained that due to my previous study (2 year part-time HNC, self funded) I was eligible for one year less than the length of my course. This has left me in a situation where I'm having to try and raise the funds to pay for year 1 myself.

I understand now that whether previous higher level study was self funded or funded through a loan doesn't change anything, but I'm wondering if there's any other way I can get funding for this year. I keep finding incomplete, conflicting or outdated info unfortunately.

1. Does the fact that I completed my HNC (normally a 1 year course) part time over two years really mean I should have two full years of loan entitlement taken away from me?
2. I've also found some suggestions that if you're studying a STEM course, you could be entitled to some forms of extra tuition funding, but can't find any info on this. I think it's often relevant for people who want to study a second masters year, for example. Is this true? Does anyone have any information on this?
3. I'm considering appealing SFE's decision based on the fact I studied my HNC part time. Is this worth doing?
   

Unfortunately my Uni haven't really offered me much help or advice other than the option to pay all of this year's fees monthly by June 2021, which still leaves me with a massive monthly payment I can't afford.

Any help at all would be much appreciated!

It's long been the case that previous study will impact eligibility to funding from the Government to complete a course in Higher Education, I'm afraid.

1. Your eligibility is provided for in legislation. Student Loans Company use a formula, 'OD+1-PrC=SE'.

OD is the length of your proposed course, +1 for an additional year IF required (resit, false start etc), -PrC is the years spent on a previous course, and SE is the amount of standard entitlement you are elgible to recieve.

Assuming your going to study a standard 3 year degree, your calculation would be 3 + 1 - 2 = 2 years entitlement which is awarded in your 2nd and 3rd years (in this case).

You should note this applies to your Tuition Fee Loan and Grants entitlement only, and you will still be awarded and paid any Maintenance Loan that you're entitled to recieve.

2. You can do a simple Google search for STEM Course Funding, the top result each time is STEM.ORG.UK which might offer some additional info for you there.

3. I'd bring you back to 1, above. Youccan certainly appeal the decision, but I can confidently say that it won't be overturned as the Appeals Process is based on whether you believe the 'rules' which SLC need to base their decision on have not been correctly applied, which I'm afraid to say isn't the case here.

It sounds like your Uni have given you a lenient option of paying in monthly instalment, perhaps consider using some/all of any Maintenance Loan toward the costs? Otherwise, it's an old fashioned case of grafting through Year 1.

Hope you get sorted.

xrayxray

Can anyone help with an EQL query? I started a Degree a few years ago and completed the first year, I transferred to a bursary funded degree and completed the entire thing. I now wish to return to year 2 and complete the original degree (a B140 so EQL exempt) 

I have found a list of EQL exempt courses and it states both full and part time exemptions. 

However SLC are saying it is only part time courses? I am confused 

[Deleted User]

xrayxray said:

Can anyone help with an EQL query? I started a Degree a few years ago and completed the first year, I transferred to a bursary funded degree and completed the entire thing. I now wish to return to year 2 and complete the original degree (a B140 so EQL exempt) 

I have found a list of EQL exempt courses and it states both full and part time exemptions. 

However SLC are saying it is only part time courses? I am confused 

I think you've some misconceptions here.

Firstly, it doesn't matter how your degree was funded, if you have a qualification, it means that you are likely not eligible for any funding for another course.

There are exceptions as alluded to above, however B140 is allocated to Neuroscience which is NOT an exception course as set out in the criteria for second degrees which are nursing, medicine, dentistry, architecture and a few others as graduate entry courses.

I'm afraid you'll need to look at other sources for funding if you wish to return to study the course you intend to.

InDebted2U_2

I have an ordinary degree (no honours). I'd like to return to study. I'm assuming I won't get funding for full-time study, even though I don't have an honours degree? Is there a list of part-time qualifications for which I would be eligible for funding, how much funding could I receive, and when can I apply for the 2021/22 year?

[Deleted User]

If you have an ordinary degree and are now going on to study an Honours, you may qualify for *some* support as an Ordinary degree such as BA or BSc is considered lower-level to Honours.

Of course, your previous study will play a part in determining what funding and how much entitlement you may expect to receive, but as always, I recommend applying for your funding in plenty of time in order to know where you stand.

You do NOT need a confirmed place in order to apply for support, and doing so does not commit you to anything or affect your credit rating.

If the support you are awarded is not enough for you to afford the proposed studies, you can change your course/Uni, look at other funding channels or simply cancel the application altogether.

InDebted2U_2

Thank you. When do applications for part-time funding open?

[Deleted User]

You'll need to continue to observe the relevant authorities website. Unfortunately not a question I can answer, but traditionally, they are usually available from as early as April/May.

Mrcnghtn

Hi, I would like some advice re my son’s student loan please. He graduated in 2015 from a three year course @ £9000 per annum student loan. He didn’t have a maintenance grant as he studied from home. His starting salary from his first job was about £30000 and he will shortly be starting a new job with a salary of about £80000.
It seems to me that it would be clearly in his interest to pay off his current £30000 balance of student loan, but I would like your advice on this please, if possible.
Thanks.

Savvy_Sue

Your son should take a look at Martin's article on this. 

What you have to remember is that if your son repays early, that money's gone, and he's got no chance of getting it back. Whereas if he keeps paying, and loses his job (or hates it, or has an accident, or whatever ...) then his student loan repayments will be based on his income. 

Mrcnghtn

Thanks Savvy_Sue. Grateful for SFSLExpert’s comments please?