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

MrsManda

jim11115 wrote: »

Hi,
Can anyone tell me what happens with student loan payments if I work in Northern Ireland - but live in the republic of Ireland? I have read somewhere that the repayments are based on the average wage in that country, but I will be earning from the UK and at the minute I only earn £15400 p/a so could not afford more than I pay now. By the time I move my pay will be increased to £18400, this is still well below the Irish average wage. Thanks.

It is not based on the average wage, it is based on the cost of living. The thresholds for the UK and Ireland are the same, therefore you will pay 9% of everything you earn over £15,000. For information on all thresholds see HERE

Oldernotwiser

waster196 wrote: »

Does anybody know if at this stage there are any options still open to her to apply for student loans elsewhere? Or does anyone have any other advice?

She is still in time to apply for her Student Loan; I believe (corrections welcome) that she has 4 months from her course's start date.

student_advisor

Oldernotwiser wrote: »

she has 4 months from her course's start date.

9 months (normally until end of May in the academic year), though in complex cases with mitigating circumstances, awards can be made after this deadline at the discretion of the assessor.

talktodaveuk

Hi all

(Sorry if this has been asked but have not been able to find it)

Can part time students (doing the PGCE one evening a week over 2 years) only get a loan on from the SLC ? (I earn under £22k) and they have offered me a loan however i have been told the ITT courses should have grants too.

Any help would be great and the SLC give me a different responce every time i call and to be honest they have said they dont know what they are doing on the phone to me and we have all seen the problems on the news.

Thanks

David

MrsManda

talktodaveuk wrote: »

Can part time students (doing the PGCE one evening a week over 2 years) only get a loan on from the SLC ? (I earn under £22k) and they have offered me a loan however i have been told the ITT courses should have grants too.
Thanks
David

It is dependent on your personal circumstances + the course and number of hours you do + when you started. For information see HERE

Aliraechel

I just wondered if anyone is having a similar problem to me...

I started paying off my student loan 2 years ago but have been shocked to find that the amount that I pay off each year is less than the interest I pay (I owe about £18000). This means that the amount that I owe is growing by about £200 every year! I'm not really sure what the best thing to do is. Should I try to pay off more every month so that I'm at least even with the interest or should I just resign myself to the fact that my loan is getting bigger and wait for it to be canceled when I'm 65?!

Any advice/ similar experiences would be greatly appreciated!

Oldernotwiser

Aliraechel wrote: »

I just wondered if anyone is having a similar problem to me...

I started paying off my student loan 2 years ago but have been shocked to find that the amount that I pay off each year is less than the interest I pay (I owe about £18000). This means that the amount that I owe is growing by about £200 every year! I'm not really sure what the best thing to do is. Should I try to pay off more every month so that I'm at least even with the interest or should I just resign myself to the fact that my loan is getting bigger and wait for it to be canceled when I'm 65?!

Any advice/ similar experiences would be greatly appreciated!

There's no reason to pay more than you have to as once you've paid this the money can never be recouped, even if your salary falls below the threshold.

Look on it as a graduate tax rather than debt repayment.

cotsvale

Hi
Not sure if this is the right place to ask....
I have a daughter who will be in her 3rd year 2010/11 and a son who will be a first year 2010/11 how will this affect my parental contribution??

Hel_wil

Hi
I am the step-mum of a guy - due to start uni in October. Our combined household income is above the threshold for receiving any grants or bursaries, but my step sons mother has suggested we use her address to apply for grants etc as her household income is less than 25K. She considers there is nothing wrong with this suggestion, but we are deeply uncomfortable with it. Can you tell me where we stand on this issue....we feel it is as bad as MP's switching homes to suit, but my step son would come out with less debt. This feels so wrong - but is it?

bobmccluckie

It is certainly immoral.