College Loan

natalieandmonkey

Hi, any advice would be really appreciated guys!
Basically, went to a private college after A Levels and student loan didnt cover fees so had to take out a loan from the college throught their benevolent fund.
They verbally agreed while I was at the college that I could repay the loan at £25 per month with a lump sum pay off at the end. I set up the standing order for repayments using the account info they gave me last month with £75 going out in total through setting up and have just got an email from them which sounds as though they haven't got the money through- I don't know if they gave me the wrong account number or what- and they want repayments of £100 per month quardupling what I was told!
I'm not very happy about it, but am I just being unreasonable or what?
Any advice would be great!
Thanks

zppp

natalieandmonkey wrote: »

Hi, any advice would be really appreciated guys!
Basically, went to a private college after A Levels and student loan didnt cover fees so had to take out a loan from the college throught their benevolent fund.
They verbally agreed while I was at the college that I could repay the loan at £25 per month with a lump sum pay off at the end. I set up the standing order for repayments using the account info they gave me last month with £75 going out in total through setting up and have just got an email from them which sounds as though they haven't got the money through- I don't know if they gave me the wrong account number or what- and they want repayments of £100 per month quardupling what I was told!
I'm not very happy about it, but am I just being unreasonable or what?
Any advice would be great!
Thanks

The loan is an informal arrangement by the sounds of it. Have you contacted them to discuss your financial position?

natalieandmonkey

Well, I had to sign a contract for the money and they know how much I'm earning but the emails I'm getting are not rude but quite........like you will pay this back. I suppose because it's not like an organization they can basically say what they like and there's not a lot I can do!