Student MoneySaving: Funding, Borrowing & Living as a student Article Discussion Area

atypical

aimeeheath wrote: »

I can understand why i had to pay the grant, however, as this is a loan, surely it should just be paid back when i earn over the threshold with the rest of the loan.

The loan money still has a continuing cost for it to be provided under the terms that it is (e.g. at the rate of inflation), that's why you're expected to pay it back. Also as the loan is wiped after 25 years you may never have chance to pay it back.

Even ignoring that, it's a simple case of having to give back what you're not entitled to.

LadyLuc

I took out a loan for my top-up year but the course was a trial run and it wasnt right for me so I dropped out and cancelled the loan straight away. I only owe the first installment of £2100 but am confused about paying that back. I earn significantly less that £15,000 a year and am getting cryptic letters from the SLC-help!

Oldernotwiser

LadyLuc wrote: »

I took out a loan for my top-up year but the course was a trial run and it wasnt right for me so I dropped out and cancelled the loan straight away. I only owe the first installment of £2100 but am confused about paying that back. I earn significantly less that £15,000 a year and am getting cryptic letters from the SLC-help!

What do the cryptic letters say?

bobmccluckie

aimeeheath wrote: »

Any help would be appreciated..

I started uni last september, however i quit in february. Because of this, i had to pay the student loans company, some of the maintenance grant that i was 'overpaid' because of when i quit. This i can understand. However i have had a letter off them today saying...

We have received notification that you withdrew from your course on 27/02/2009. As a result, your local authority has reassessed your entitleent to a maintenance loan.
The amount of maintenance loan you are entitled to for the period you attended your course is £1228.00. As you have already been paid £1580.04, you must therefore now return £352.04. This amount is now due.

I can understand why i had to pay the grant, however, as this is a loan, surely it should just be paid back when i earn over the threshold with the rest of the loan.

Please help

Aimee

If you quit you have to pay back all grants you received, not just part of them. It is loans that are fractional depending on when you quit.

Yer_Wee_Man

Both my daughters are due to go to Uni next year. Our household income (approx £43k) means they would get very little Maintenence Grant. However one of them spends a lot of time at her nan's (a retired pensioner).

Could she offically move there, go on the voters etc, and then be able to claim full Maintenence Grant, and is there a miminum period she must reside there before it would be accepted as her home address.

One other question- I did a Deed of Covenant for my brother at Uni many years ago, which enabled him to claim the tax back. Does such a thing still exist ?

MrsManda

Yer_Wee_Man wrote: »

Both my daughters are due to go to Uni next year. Our household income (approx £43k) means they would get very little Maintenence Grant. However one of them spends a lot of time at her nan's (a retired pensioner).
Could she offically move there, go on the voters etc, and then be able to claim full Maintenence Grant, and is there a miminum period she must reside there before it would be accepted as her home address.

No. It goes on parental income unless the student can be classed as an independent student. In your daughter's case, the only way she'd be classed as independent is if her parents died, or she can prove you have been permamently estranged (for at least a year). The other option is that her nan became her legal guardian but I don't think that's worth thinking about. For more information

Yer_Wee_Man wrote: »

One other question- I did a Deed of Covenant for my brother at Uni many years ago, which enabled him to claim the tax back. Does such a thing still exist ?

I don't understand what you mean by this so can't help. Which tax are you talking about?

Oldernotwiser

Yer_Wee_Man wrote: »

One other question- I did a Deed of Covenant for my brother at Uni many years ago, which enabled him to claim the tax back. Does such a thing still exist ?

No, this scheme finished some time ago.

sakula

dae2210 wrote: »

Can anyone tell me if students who choose to study abroad are able to have student loans.

you may submit this quetion to study abroad BBS,in there you can get some professional answers

Oldernotwiser

sakula wrote: »

you may submit this quetion to study abroad BBS,in there you can get some professional answers

Yer_Wee_Man

I don't understand what you mean by this so can't help. Which tax are you talking about?[/QUOTE]

Sorry MrsManda, me and OldernotWiser must indeed be somewhat older !! Many years ago anyone paying income tax could sign a Deed of Covenant giving, as a gift, a lump sum (I think the max was about £500 per term) to anyone in full time education. The income tax on this was then reimbursed by the goverment so you in effect got a tax refund of about £400 a year, each and every year they were in full time education. The good old days eh ! :rolleyes: