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

Daveab57

if I have savings in a cash ISA and receive interest on these savings, is this counted as income and hence do I have to pay 9% of the interest to the student loan company (I am earning over £15 000 per year from my job).

Jess79_2

After many years battling with SLC ltd (scotland) that I did not earn the maximum allowed wage before repayment was applicable on my 1997 - 2002, I have discovered that they passed my student loan onto a debt collection agency - well two seperate ones actually because they did not link all 5 loans together from my 5 years studying. They actually passed the debt to the agencies when I was still in education in 2002 ( I dont know why). I have contacted the agencies and have repayment agreements with both of them but one is showing up on my credit report as a default. I dont understand why? Is it best to try find the money to clear the money or get the agency to clear the debt notes on my file? It has all just been to hard to try tackle and I dont know what the best action to take is?

Mandy1961

Ok
I am wondering if anyone can help me -- I owe student loans in the USA and now have moved to live in another country in Europe...I work and earn the basic minimum wages...I moved as I could not afford to pay these loans off in the USA and could get no help from them -- so what happens next - I know they will eventually find me - and I want to pay them back but owe so much I will never get out from under it - also even though I have a degree and almost a MA - I am now stuck in a dead end job as I have no "work," experience to get a better paying one....
My second question is that now that I owe so much will I ever be allowed to visit the usa again,,,,

Thanks
Mandy

callum9999

Mandy1961 wrote: »

Ok
I am wondering if anyone can help me -- I owe student loans in the USA and now have moved to live in another country in Europe...I work and earn the basic minimum wages...I moved as I could not afford to pay these loans off in the USA and could get no help from them -- so what happens next - I know they will eventually find me - and I want to pay them back but owe so much I will never get out from under it - also even though I have a degree and almost a MA - I am now stuck in a dead end job as I have no "work," experience to get a better paying one....
My second question is that now that I owe so much will I ever be allowed to visit the usa again,,,,

Thanks
Mandy

I don't know how American student loans work, but I wouldn't be surprised if they denied you entry in the future considering you appear to have defaulted on your debts and fled the country to hide from them.

gizmocoe

Hiya all
Am coming late to this subject, my daughter is hoping to start Uni this sept and I have just read the accomodation guide she's given me which says that students have to pay in advance for the 1st years University accomodation..... This will be before any student loan comes through and so we will have to pay this ourselves in the short term! Am I reading this right? No-one warned me about any of this..... how naive of me!!
Gizmo:eek::(

Oldernotwiser

gizmocoe wrote: »

Hiya all
Am coming late to this subject, my daughter is hoping to start Uni this sept and I have just read the accomodation guide she's given me which says that students have to pay in advance for the 1st years University accomodation..... This will be before any student loan comes through and so we will have to pay this ourselves in the short term! Am I reading this right? No-one warned me about any of this..... how naive of me!!
Gizmo:eek::(

Are you sure that you have to pay for the whole year's rent in advance - it's usually the first term.

thornhill_2

My daughter is starting uni in Oct. We can afford to pay her tuition fees and don't expect her to meet this cost. Should we pay upfront or take out the tuition fee loan and invest the equivalent amount of money in an account in her name for her to access after finishing uni?

Indie_Kid

thornhill wrote: »

My daughter is starting uni in Oct. We can afford to pay her tuition fees and don't expect her to meet this cost. Should we pay upfront or take out the tuition fee loan and invest the equivalent amount of money in an account in her name for her to access after finishing uni?

I think it would better to take out the tuition fees loan. It does mean more debt; but that at least she'll have some money after uni.

Lokolo

sh1305 wrote: »

I think it would better to take out the tuition fees loan. It does mean more debt; but that at least she'll have some money after uni.

Agreed.

She can also make money out of it. Maybe not for the following year due to sad times in the economy. But up until this year my student loan has been rising less than my savings have been.

Indie_Kid

gizmocoe wrote: »

Hiya all
Am coming late to this subject, my daughter is hoping to start Uni this sept and I have just read the accomodation guide she's given me which says that students have to pay in advance for the 1st years University accomodation..... This will be before any student loan comes through and so we will have to pay this ourselves in the short term! Am I reading this right? No-one warned me about any of this..... how naive of me!!
Gizmo:eek::(

Some give lee-way. With mine, the first payment date was September 14th and we had 4 weeks to pay for it. Due to SFE backlogs, we were given until November to pay it.