Help With Student Loans - HERE!

MrsManda

To Sugarshakes, First of all take a deep breath and try to calm down a little.
Have you told your university you are withdrawing?
If it's a four year course was it a UG Masters? Could you get a qualification if you finish this year? I realise you've probably thought quite hard and spoken to your personal tutor about it, but are you 100% certain you want to quit? You will not be able to get student loans to go back again.Have you considered taking a gap year?

Ok, that out of the way. The SLC do reserve the right to recover loans which have been overpaid. However, as upto now you have been a student, they have not overpaid you so will not ask for the money back in one go, it'll be treated as if you've graduated. They may ask for the money you have just recieved back but my experience has been that they don't bother - just don't spend it yet. You need to fill in a CO1 form from https://www.studentfinancedirect.co.uk to inform the SLC of your change in circumstances.

Hope that helps.

MrsManda

WayneH - the student loan repayment customer number is: 0870 240 6298. They should be able to help you with tracing your details.

Neeny82 - the SL repayments site says that the HMRC should inform your employer when they register you on their PAYE system that deductions need to be made for student loan. Therefore I wouldn't have thought the student loan company would ask you to pay the arrears but even if they do, as it isn't wholly your fault they will work with you to sort it out - may be adding a bit more to what you need to pay monthly.
I think it'd be best to speak to your payroll department and ask them to sort out paying your student loan. The sooner you start paying it the better.

sugarshakes

MrsManda,

I'm not withdrawing, the unversity have withdrawn me due to my lack of attendance last semester. I want to finish and get the degree, but I've sort of made this whole mess myself by not going. I handed in all the work required and actually passed that with quite good marks... I've made a mess of things

MrsManda

Sorry, I missed understood your post. Is there any way they'll let you defer rather than withdraw you?

Oldernotwiser

MrsManda wrote: »

Sorry, I missed understood your post. Is there any way they'll let you defer rather than withdraw you?

I think that if you've been thrown out (sorry, I believe in calling a spade a spade!) then deferral's unlikely to be an option!

sugarshakes

Oldernotwiser wrote: »

I think that if you've been thrown out (sorry, I believe in calling a spade a spade!) then deferral's unlikely to be an option!

Thanks, I was looking for help. I don't need negativity! I only wanted to know about going about paying back the money to the loan company and how it works. I didn't need people pointing out that I'm a failure and have been thrown off my course!

sugarshakes

MrsManda wrote: »

Sorry, I missed understood your post. Is there any way they'll let you defer rather than withdraw you?

I don't think so. I might be able to repeat this whole year, possibly. The university isn't really helping me though, I'm just being passed around from department to department and the undergrad center is now closed so I have to wait until tomorrow.

I want to try and arrange a meeting with my personal academic advisor and see where I can go from there.

I just wanted to know what my options are if I can't get back onto the course and I was rather upset this morning so I'd wrote my post at a hundred words a minute and posted as I needed other perspectives. Most of the users have been really helpful, including yourself so thanks. I've got some good advice and feel alot clearer about what to do.
xxx

Aspiring

sugarshakes wrote: »

Thanks, I was looking for help. I don't need negativity! I only wanted to know about going about paying back the money to the loan company and how it works. I didn't need people pointing out that I'm a failure and have been thrown off my course!

((sugarsharkes))

I don't believe, having read many of Oldernotwiser's posts that it was meant as negativity or indeed that it should be interpreted as calling you a "failure" - although I do understand that when you are in the throes of shock that it is quite easy to believe that everyone is saying something against you. In essence, Oldernotwiser was pointing out that deferal isn't an option under certain circumstances. Nothing more; nothing less. I know you are feeling angry and confused and frustrated: there's an old saying, "don't shoot the messenger" No one on the forum is responsible for the choices your University has made regarding your circumstances ((hugs)).

I won't be starting Uni until September, so my wisdom/experience on the SLC isn't of any consequence.

Common sense tells me that, if the SLC examine your bank details, they will not take money that simply does not exist! However, there will be a point whereby you will need to speak with them. If they should demand all the money back and your financial status is such that you don't have it, then they would need to arrange with you a repayment by instalments agreement.

However, as a mother, a woman and a forum reader, I wanted to hand you a ((hug)) and let you know that, as bleak as the situation seems right now, an answer that fits your purpose and is one that you would prefer to hear and accept, will be forthcoming!

I'm so saddened that you felt you needed to avoid Uni and used the finances you were given to assist your Mum and now find yourself in this dilema. There will be a way forward: to date, I have not read or heard anything to suggest that the SLC will take their money via a pound of flesh. Whatever the solution is, it will be do-able. After all, the SLC WILL want the money it is owned: they are not daft enough to be unreasonable about it.

Do indeed speak to your personal tutor because they may well have some pertinent advice for you. Do not be surprised, or take it too much to heart, if they happen to say, during the conversation, that you should have gone to them sooner (that goes without saying this far down the line). Stay calm with them; listen to their advice and try to keep things in perspective. It's all about "one step at a time" at the moment.

Best wishes ((hugs))

artystix

Is there a website that features a student finance calculator anywhere?

My daughter wants has a place at Manchester Uni in sept 2009,

My husband & I are on disability benefits, so we cant contribute much.


How much is she actually entitled to in the way of grants loans etc?

She is talking about deferring for a year & working to save som more money, she has £750 saved up & puts money from her part-time job into her savings account.

I dont know how this works as I never did Uni!

Any advice, most appreciated

Thanks

BruceyBonus

artystix wrote: »

Is there a website that features a student finance calculator anywhere?

My daughter wants has a place at Manchester Uni in sept 2009,

My husband & I are on disability benefits, so we cant contribute much.


How much is she actually entitled to in the way of grants loans etc?

She is talking about deferring for a year & working to save som more money, she has £750 saved up & puts money from her part-time job into her savings account.

I dont know how this works as I never did Uni!

Any advice, most appreciated

Thanks

There is one on the Student Finance Direct website - however it hasn't yet been updated for the 09/10 academic year. This should be available in mid-February.