Repaying Student Loans 2009/10 guide discussion

Oldernotwiser

Weezarelli wrote: »

Hi
I have 3 loans mixed between the SLC and the HSLC. These have always been defered because I did not earn enough to need to make replayment. Since my maternity leave, I have decided not to return to work and my husband supports me.
I have had a letter asking for my husband to write a letter confirming that he supports me and that the support is less than £2254/month. What I don't understand is, what is support? He doesn't give me money, but he does pay all the bills. If you add all these together is that the level of my support? He'd be paying the bills anyway for himself, so that's not really for me. Does he just support me by paying for my food?
Sorry if this sounds daft, but I have totally confused myself! I hope someone can help. Thank very much.

I've had to do this for a couple of years. I didn't think that you had to put down the level of support received,just that it was below the threshold.

Poolie

Support means does he pay the bills and provides a roof over yours head. Does he pay for the food. Just ask him to write a letter saying that he provides all support required and this comes to less than £2254 per month.

Ddraigdrwg

I just want verify that i'v got something right before i ring the SLC,I started in higher education in September 1994 aged 38 and graduated in june 1997 aged 41.I took out student loans every year,Am i right in saying that my loan should have been wiped out four years ago when i turned fifty.If so what is the correct procedure for gettind this sorted,and shouldn't the SLC notified me of this (my loans weren't sold off to outside companies).

Oldernotwiser

Ddraigdrwg wrote: »

I just want verify that i'v got something right before i ring the SLC,I started in higher education in September 1994 aged 38 and graduated in june 1997 aged 41.I took out student loans every year,Am i right in saying that my loan should have been wiped out four years ago when i turned fifty.If so what is the correct procedure for gettind this sorted,and shouldn't the SLC notified me of this (my loans weren't sold off to outside companies).

Yes, your loans should have been wiped out when you reached 50. I don't know the correct procedure but would be interested to hear what happens when you contact them as I'll be in the same situation later this year.

Ddraigdrwg

Thanks Oldernotwiser,I'm going to ring them Monday or Tuesday and i'll post the result asap.It makes you wonder whats going on up there if i hadn't thought back to a chance conversation i had with a fellow student all those years ago (none of it was explained when i took the loan out) i could have been paying back needlesly.I'v just got home and recieved this years deferment,so they can have it both barrells-not literally.
:beer:

Poolie

Ddraigdrwg - Can you confirm what age you were when your last loan agreement for your course was taken out.

Reason I ask if, if you were under 40 then your loans would be written off at 50.
If you were 40 or over then your loan is written off when you are 60. Or 25 years after the last agreement.

Check here under loan cancellation:
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingBefore1998/DG_10034744

chrismain

I currently have 4 pre 98 loans deferred.

I think i'll have to start repaying next year due to a pay rise.

I live in Austalia and we are currently recording 30 year highs against the British pound (60p/dollar) - should I take advantage of this as my loan has essentially decreased in value by 30% in the last 3 years due to a strong Aussie dollar.

What is the threshold at which it becomes cost effective to take out a loan here to pay of my student loan?

Thanks,

Chris

Oldernotwiser

Poolie wrote: »

Ddraigdrwg - Can you confirm what age you were when your last loan agreement for your course was taken out.

Reason I ask if, if you were under 40 then your loans would be written off at 50.
If you were 40 or over then your loan is written off when you are 60. Or 25 years after the last agreement.

Check here under loan cancellation:
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingBefore1998/DG_10034744

You know, I've always thought that the ruling was under 40 at the start of the course, so thank you for pointing that out.

scott_gbsn

Hey everybody. First thing is that I have read every thread about student loans and you have helped me a lot, there's loads of good info about this topic.

Let's see if you can help me clearing my confusion:

I finished my degree in 2009 and then I moved to Portugal with my partner. Now that April is near I guess I should be starting paying the loan back, but the thing is that I'm not working at the moment and it's being difficult for me to find a job because two main factors, my Portuguese is still terrible and the job situation is not the best, the recession is real over here.
My parents and partner are kindly paying my rent and food till I find a job and I feel really bad for them, I feel very guilty. I came with good savings but they are gone by now, I thought it would be easier. The thing is that my partner is doing great here and I love living in Lisbon, so I don't want to go back to England.

Basically I'm a little bit confused. What I do understand is that you start paying back just when you reach the threshold, right? Here in Portugal is 12,000. But what if you don't work at all?
I’m filling the overseas income assessment form and I'm confused about what to put on the unearned income field, would that be my annual rent and food expenses?

Also, the form says ‘Please provide evidence that shows us how you support yourself financially. Depending on your circumstances, this will include payslips, letters of engagement and other official documentation’. And I wonder, what kind of evidence can I provide? I don’t have any payslip or official documentation. I know it’s sad and trust me I feel like !!!!, I have trouble sleeping at night and I hate to be a burden for the ones that care about me.
So If I could hold off paying the loan back for a couple of years I think it would be enough and helpful, but I don’t know how the student loan company acts in these cases.

Any ideas? Thanks a million in advance.

Poolie

Complete the overseas assessment form saying you are receiving 3rd party support and send a letter from your partner or parents stating that they are supporting you at present and will continue to do so.