Help With Student Loans - HERE!

Lokolo

netty179a wrote: »

Thanks The One, I didn't realise that. And Dear Lokolo, the reason I am going to University ( a decision made 6 months ago after being made redundant yet again!!) is to improve my life and to earn some money, similar to the motives of the younger students I believe. However, I am currently saving for Uni from my minimum wage job salary as I'd rather not actually get a loan. It's the likes of my tutors at college and even this site who are encouraging me to get 'good' debt, I hate it and would rather not and I nearly didn't go through with the application for Uni, but hey, why shouldn't I be afforded the same priveledges as my 18 year old niece?????????? I'm not usually wound up by digs like yours but please think of the whole picture before you are so sarky in the future. This is a HUGE and frightening step to take without other peoples negaivity.
xx

I wasn't being sarcastic.... Thats more than likely the reason

If you are 25 it means you have had 7 working years to gain funds. You're 18 year old niece hasn't. Its the only reason I can think of.

Oldernotwiser

I should think that anyone in their 40s who used their savings instead of Student Loans for funding university would be very stupid indeed. It's useful to have savings behind you for emergencies and certainly worth paying off ordinary loans before going but student finance should be taken out to the max by anyone of any age.

netty179a

Oldernotwiser wrote: »

I should think that anyone in their 40s who used their savings instead of Student Loans for funding university would be very stupid indeed. It's useful to have savings behind you for emergencies and certainly worth paying off ordinary loans before going but student finance should be taken out to the max by anyone of any age.

Well that's what I'm being told, but I'm worried I end up in bother with the loans. However it's a government run thing isn't it and it's all regulated as to when and how you pay it which is reassuring. I don't see what the problem is with older students wanting the same entitlements as the younger ones. I'm trying to better myself and will do it.

Oh all right, I'm going to stop now cos I feel as if all I do is rant ha ha. I didn't realise I'd be so bloomin touchy about it ha ha.

Thanks for your advice everyone, and sorry to Lokolo for my madness I know you weren't being sarcastic, it read that way, soz.

A xx :j

Oldernotwiser

netty179a wrote: »

Well that's what I'm being told, but I'm worried I end up in bother with the loans. However it's a government run thing isn't it and it's all regulated as to when and how you pay it which is reassuring. :j

Student Loans are so different from ordinary debt that you can ignore most of the things that normally matter about taking out loans. When you're earning over £15,000 you pay back 9% of the excess and if you're not earning that amount you pay nothing back. Any money outstanding is wiped off after 25 years.

I went back to university as a mature student and have loans outstanding (due to be wiped out soon!:T ) and I've also been a student adviser. In your situation it really is very simple.

Taiko

May as well drop a note on here. I'm an assessor with an LEA in the south, and just got a fair bit of entertainment reading back to the first posts in this thread, and some bad information being given by the thread starter several years back.

That said, I'm liable to frequent here a bit more now, and will be happy to answer any eligiblity questions and provide further guidance from an internal viewpoint.

deja_2

Hi all - I have just joined and wonder if someone could help me with regard to funding as a mature student with a mortgage and a 16 yr old (to be 17 in April - first child having moved out at 18). I am 47 and am intending to attend an access course in Scotland (Sept 09) which after the first year is completed, will then allow me to attend a course at uni as a Nurse - Mental Health being where I would like to specialise. The course is a 3 yr course - I am confused as to what I may be entitled to in my first year on the access course and what I may be entitled to thereafter at uni. I have a mortgage to pay although I can, I believe, reduce this to an interest only mortage for at least a year, saving me about £100 per month. My daughter is also at college and hoping to stay on for a further year doing a different course She gets EMA of £30 per week and a bursary and I assume will get the same if she stays on doing another course.

I should perhaps mention that I will have to give up full time work to allow this transition to take place, which as you can imagine is a huge step and a step I can't afford to mess up.

Really sorry if this sounds confusing - that's how I am feeling!

All posts will be gratefully read!

MrsManda

Hi Deja,
I'm not entirely sure about what bursaries you'll be entitled to with regards to the access course. You will be ineligible for EMA as that is only for 16-18 year olds to enable them to stay in education post-16. You may be entitled to an Adult Learning Grant which is similar but is based on the course you are taking as well as your financial situation. Are you living in Scotland at the moment?

Once you get to university, providing you've never received funding from the government previously you should be entitled to the same support as any non-mature student. How much and in what form (grants/loans) changes each year and depends on where you are living and where you are studying (England or Scotland etc...).

Hope that helps a little. Good luck with the course

Penny35_2

I went back to university as a mature student and have loans outstanding (due to be wiped out soon!:T ) and I've also been a student adviser. In your situation it really is very simple.[/quote]


Hi

Can you tell me how they will be 'wiped' out..Thanks

Oldernotwiser

Penny35 wrote: »

I went back to university as a mature student and have loans outstanding (due to be wiped out soon!:T ) and I've also been a student adviser. In your situation it really is very simple.

Hi

Can you tell me how they will be 'wiped' out..Thanks[/quote]

By virtue of my age.

netty179a

deja wrote: »

Hi all - I have just joined and wonder if someone could help me with regard to funding as a mature student with a mortgage and a 16 yr old (to be 17 in April - first child having moved out at 18). I am 47 and am intending to attend an access course in Scotland (Sept 09) which after the first year is completed, will then allow me to attend a course at uni as a Nurse - Mental Health being where I would like to specialise. The course is a 3 yr course - I am confused as to what I may be entitled to in my first year on the access course and what I may be entitled to thereafter at uni. I have a mortgage to pay although I can, I believe, reduce this to an interest only mortage for at least a year, saving me about £100 per month. My daughter is also at college and hoping to stay on for a further year doing a different course She gets EMA of £30 per week and a bursary and I assume will get the same if she stays on doing another course.

I should perhaps mention that I will have to give up full time work to allow this transition to take place, which as you can imagine is a huge step and a step I can't afford to mess up.

Really sorry if this sounds confusing - that's how I am feeling!

All posts will be gratefully read!

Hi Deja, there is an Adult Learning Grant (ALG) whcih is the 'grown ups' equivalent of an EMA. It ranges from £10, £20, £30, depending on your income. I work p/t so am entitled to £20 p/w which is great, when I get round to applying for it. You have to show your previous years earnings, bit like Tax Credits, and it's based on that. However if like me you've reduced your hours to incorporate college then you can show this years projected income and they will asses you on that. Unfortunately I had 16 jobs last year as did a lot of temping and lots of p/t jobs at same time and it's a nighhtmare to sort out the info as couple businesses gone bust or changed ownership.
It all depends on where you live and whether you going to have p/t job, but can I say at 41, I changed my working routine, found an employer who took me on at 30 hrs a week until Aug 09, perfect timing for Uni and do 20 hours at college studying 3 access courses and although it's hard (I'm currently struggling with a maths statistics project, chemistry and human biology revision for exams week after next), it's the best thing I've done. It's really hard and I am single with no kids but do have the other stuff like rent etc but stick with it, you'll be so pleased and proud of yourself at the end of it all.

A xx