Repaying Student Loans 2009/10 guide discussion

Poolie

It is going to a complete case of wait and see what is in the legislation and regulations.

ler01kjh

Lokolo wrote: »

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingFrom1998/DG_10034867

No problem.

As I said, its worked out PAYE, just like tax is.

It's not just like tax is because loan repayments are not returned when you earn below the £15k theshold on average. As you know if you earn a lot one month and less the month, you can receive a credit back. The same does not apply to student loans.

Oldernotwiser

Poolie wrote: »

The threshold has changed before for post 1998 loans and it affected the whole loan book when it change from £10,000 to £15,000 so they have done it previously.

No where does it state in the statement that this will affect just NEW students only. The new system can mean whatever the government wants. I suspect they will do it everybody as want the cash to pay off the debt bill.

Also, government are now saying that it will not make any money from the 3% + RPI which is utter rubbish because that is exactly what they are going to be doing unless they are offsetting this against the no interest (just RPI) loans.

There's a big difference between upping the threshold (which nobody is going to object to) and doubling/tripling the fees in the middle of a course!

You seem to be the only person who thinks it's going to affect existing students.

whitfreak

ler01kjh wrote: »

It's not just like tax is because loan repayments are not returned when you earn below the £15k theshold on average. As you know if you earn a lot one month and less the month, you can receive a credit back. The same does not apply to student loans.

Can I offer a slight correction there. Loan overpayments are not automaticaly returned, but you can get them back. However you have to wait until the end of the payment year, and then prove that you overpaid, so it is not a simple or quick process.

Poolie

Oldernotwiser wrote: »

There's a big difference between upping the threshold (which nobody is going to object to) and doubling/tripling the fees in the middle of a course!

You seem to be the only person who thinks it's going to affect existing students.

We are not talking about fees on this thread, but the repayment solution the Government are going to implement.

Oldernotwiser

Poolie wrote: »

We are not talking about fees on this thread, but the repayment solution the Government are going to implement.

What you and I have been discussing is whether the changes will affect existing students.

ler01kjh

whitfreak wrote: »

Can I offer a slight correction there. Loan overpayments are not automaticaly returned, but you can get them back. However you have to wait until the end of the payment year, and then prove that you overpaid, so it is not a simple or quick process.

Agreed - you're quite right.

jackyr1

I am in dispute with the student loans co. I took out loans for the 3 years up to 1994. for many years I deferred and some I have paid when I could afford it. When I reached 50 2 years ago I asked them to wipe the loan but they refused saying as I had missed some payments I was in breach of contract. As these 'missed' payments were during a period that should have been deferred (long story) I said I should not be penelised and have refused to pay. Now they are threatening court even though they told me via email they would not do that. Has anyone out there had their loan wiped even after missing payments? Please help!

Poolie

jackyr1 wrote: »

I am in dispute with the student loans co. I took out loans for the 3 years up to 1994. for many years I deferred and some I have paid when I could afford it. When I reached 50 2 years ago I asked them to wipe the loan but they refused saying as I had missed some payments I was in breach of contract. As these 'missed' payments were during a period that should have been deferred (long story) I said I should not be penelised and have refused to pay. Now they are threatening court even though they told me via email they would not do that. Has anyone out there had their loan wiped even after missing payments? Please help!

It may be best if you wrote to the complains department and asked them to review when your account was in arrears and why the deferment was not backdated.

Oldernotwiser

jackyr1 wrote: »

I am in dispute with the student loans co. I took out loans for the 3 years up to 1994. for many years I deferred and some I have paid when I could afford it. When I reached 50 2 years ago I asked them to wipe the loan but they refused saying as I had missed some payments I was in breach of contract. As these 'missed' payments were during a period that should have been deferred (long story) I said I should not be penelised and have refused to pay. Now they are threatening court even though they told me via email they would not do that. Has anyone out there had their loan wiped even after missing payments? Please help!

I'll be interested in hearing any replies because I'll be in this situation myself next year.

Is it just the missing payments they're talking about or the whole of the outstanding loan?