Help With Student Loans - HERE!

Oldernotwiser

purplepardalis wrote: »

Ok - Thanks for the reply. I'll wait for them to make an effort to find me. I'm guessing they could from the electoral roll? If so, they've not bothered so far - bizarrely enough

I've no idea how they might track you down but I really think that they will.

I took out loans in 1996 - 1999 and mine were among those sold on to Honours Student Loans who they make the the SLC look positively wishy washy. I was 5 months late with my deferment form one year and ended up having to pay about £450 as arrears and charges, despite never having earned over the threshold.

I'm sorry to be the bearer of bad tidings on this but I would seriously start putting a bit away for when they catch up with you.

Edit: If you look further down the board at the thread started by Futurabold you will see what happens when the SLC catch up with you and you haven't deferred.

purplepardalis

Thanks - I'll have a look.

They have contacted my dad and he's told them he doesn't know where I am.

I have my reasons for not paying them back that I won't go into as everyone will shoot me down. My conscience is clear though

lazymoezy

Another rant sorry!!

For the last couple of months I have been sending forms and other documents relating to my parents income to my local authority. Just recently I got a letter saying I needed to provide information regarding my parents benifits for year ending 2008, which I have already done!! This is the second time they have done this, first time round was entirely my fault, I sent documents for year ending 2009. I have got a receipt showing that I have handed in forms for year ending 2008, so, why do they ask again?

By the way, I am a 2nd year student and couldn't do the parent/spouse section online as there is some sort of 'error' with my alias ID or D.O.B, hence, the reason why I am giving them all these forms!

I thought second year students didn't have to provide proof if their circumstances didnt change? I've provided proof regardless and still all this delay?

Im sorry but I get really confused with all this finance stuff! My local authority is Lambeth Education by the way. I have received my student loans, now trying to get the maintenance grant....I know a bursary is available but have I missed anything out? I could have sworn there was another loan? Both my parents are retired, so, I should be elgible for everything. Im sorry for the essay it is just that I have lost my part-time job in December and everything is catching upto me. Could do with the money!!

Oldernotwiser

lazymoezy wrote: »

Another rant sorry!!

For the last couple of months I have been sending forms and other documents relating to my parents income to my local authority. Just recently I got a letter saying I needed to provide information regarding my parents benifits for year ending 2008, which I have already done!! This is the second time they have done this, first time round was entirely my fault, I sent documents for year ending 2009. I have got a receipt showing that I have handed in forms for year ending 2008, so, why do they ask again?

By the way, I am a 2nd year student and couldn't do the parent/spouse section online as there is some sort of 'error' with my alias ID or D.O.B, hence, the reason why I am giving them all these forms!

I thought second year students didn't have to provide proof if their circumstances didnt change? I've provided proof regardless and still all this delay?

Im sorry but I get really confused with all this finance stuff! My local authority is Lambeth Education by the way. I have received my student loans, now trying to get the maintenance grant....I know a bursary is available but have I missed anything out? I could have sworn there was another loan? Both my parents are retired, so, I should be elgible for everything. Im sorry for the essay it is just that I have lost my part-time job in December and everything is catching upto me. Could do with the money!!

If you have a look round the board you'll find a whole thread concerning the question of being asked for more information; it might well answer your questions.

You should be getting Fee Loan, Maintenance Loan , Maintenance Grant and universary bursary. Nothing else unless you have dependants or learning disabilities.

jet121

hiya!!! I need a bit of help! I have managed to save a fair amount of my student loan and am planning to use it towards a deposit on a house. Should I use some of the money to repay the debt or use all of it towards the deposit??

Thanks
xx

Oldernotwiser

jet121 wrote: »

hiya!!! I need a bit of help! I have managed to save a fair amount of my student loan and am planning to use it towards a deposit on a house. Should I use some of the money to repay the debt or use all of it towards the deposit??

Thanks
xx

Most people would think it better not to pay any more off your Student Loan than you have to. Also, the larger deposit you have, the more choice of properties and the better mortgage deal you'll be able to get.

k993802

Hello all!

I have a Student Loans question that I hope someone would be kind enough to answer.

I took my student loan out 1999-2001 and have been repaying it since 2001.

My question is about the interest - As I understand it, the rate for the year september to september is the lower of the RPI or the base bank rate of x banks plus 1% at a date set in March.

Here's my question:

If in March09 the RPI is a negative percentage, say -0.5%, does that mean that from Sept09 to Sept10 the SLC will pay off -0.5% of my balance? (rather than add an interest charge if the March09 RPI was a positive percentage).

I hope that was clear enough - Anyone know the answer? - It would be amusing to have the SLC actually reducing the balance of my loan month on month for me!

Thanks in advance!

Miss-spent_2

sugarshakes wrote: »

really need help!
I've been withdrawn from university and I need to know what happens now, in terms of paying back the money. I was in my third year of a four year degree. Will the students loan company demand all their money back in one go?! They've just paid a payment into my account on the 5th of Jan, will they claim that back now as I'm not a student?!

My head is all over the place, it's only just happened a few hours ago and I have yet to tell my mum as I know she is going to be so disapointed in me!

Basically I hated my course, and I mean really hated it, and so I stopped going, I was handing in all the work, but I couldn't bring myself to face my lectuerers and everytime I did I felt ashamed that I had no idea what was going on and I was so out of my depth.

My mum has money problems so I've lent her most of my student loan to help her pay back some of her debt, only now I'm not a student I'm scared they are going to demand it back all in one go and go into my bank accound and try and take money that's not there!!!!
Please don't mis-understand me I have no intention of running away from my student loans, I sincerely intend to pay them off make no mistake. I'm just petrified they are going to demand £17 000 back off me all in one go or the £2000 they just paid into my account.

Please can someone give me some advice!!!!! I think I'm going to cry!

Hi, I can offer a bit of perspective on this. My son failed his second year at university and didn't tell us until we thought he was going back in September. It was a horrible experience but it all seems a long while ago now.
I became very worried about his student loan (£13000) and phoned the SLC. They told me that the same rules apply as before. Firstly they wouldn't expect to start claiming from him until the April after he had been due to graduate and secondly they would only start taking money when he earned over £15000 PA.
So initially we had nothing to worry about, however interest will be acruing all the time.
I did initially think he should start paying off a little bit each month and |I even thought about us extending our mortgage to pay off the debt but advice on this site made me think otherwise.

I hope you, and your Mum, feel better now time has passed

PenguinMB

i am currently in my 1st year of university and live by myself so im entotled to full grants and just recieved a letter confirming £1000 bursary in march. but the biggest help would be helping if the government paid my course fees. i rang up but they said something about if you join after (X) year you are not entitled to get your course fees paid anymore. is this true or is there hope??

rachaelfleur

Hi SLC Worker,

I'm an ex student of Architecture and studied for 7 years. Every year I took out a full student loan as I had no parental help. In total I borrowed just over £21,000 (not sure of the exact figure). I've been working now for 3 years and I'm over the £15,000 threshold so payments come off my wage automatically, as it's a percentage of your wage you pay, everytime I get a payrise my student loan payments go up. However, when I received my last statement, due to the interest on my loan, it's now over £22,000. This is really disheartening as it would seem I'll never get it paid off. I can't afford to pay in any extra cause I have other student debts needing cleared as well (credit cards and overdraft). I took my first loan in 1998 and every year since till I graduated and it's through the scottish system. Is there any help out there for people who have such a high loan amount? I currently pay just over £100 a month.

Thanks