Student Loans

Caroline11_2

I’m new to this whole forum game so please be patient with me!!! I may have posted this in the wrong place.

My problem is The Student Loan Co. I have been a student twice over and I have a loan under the old system (circa 1996) and an even bigger loan under the new system. The Student Loans Co are insisting that I pay both loans at the same time rather than consecutively. This totals almost £200 per month which is not easy on my average salary. I’m also a lone parent. They have advised me that the only way they will accept a reduced payment is if I offer all my debtors a reduced sum which I do not require to do.

Would anyone know of a way round this. The websites specialising on student debt only appear to discuss loans under one system or the other, rather than both.

I am paying this sum but it is hard as I said. I have also avoided trying to deal with this as I find the Student Loans Co quite aggressive having had a brief period of not paying when I was trying to establish this issue.

So other than buying lotto tickets, can anyone give me some advice please!!
:beer: Here's to the watered down lager and tattoo's of 1996.
C

Tixy

Hi and welcome

Might also be worth asking this same question here Student Money Saving to see if anyone has come across this situation (doubles your chance of a useful reply).

I guess that its fairly unusual to have both types of loans, I know they are legally completely different in the way they are treated so I would almost not be suprised if you do have to pay them back at the same time.
This factsheet has some info on student loans but scanning it I don't think it answers your question - but maybe national debtline would be able to answer it for you (you can email or call) if you have no luck with posters here http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=30_student_debt#chapter3

Poolie

Was your post 1998 loan for a PGCE course or something else?

If it was for a PGCE course then you are permitted a choice of which loan to pay first. Make sure SLC are aware that your accounts are linked as some times there is a problem due to student using middle name in one application but not in others or failing to provide previous student loan account numbers when requested on the application forms.

If you didn't do a PGCE course then SLC are correct payment would be expected on both accounts. I take it you are earning over the deferment threshold for the pre 1998 loan? As this would have been one way to stop paying both loans at the same time.