We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
2 styles of loans, double the repayment?
Options

tcapewell
Posts: 27 Forumite

I was a student who gained a deferred place at University in 97 to begin in the academic year 98/99.
Because I gained the placement under the 'old' scheme, i was entitled to a grant and also received the 'old' style loan for my 1st year at Uni.
For the subsequent 3 years I applied for loans which are now listed together on a sepearate account, so I'm assuming these were received under the 'new' style of loan.
Last October, without any correspondants, loan repayments at 9% were automatically being taken from my pay via Inland Revenue, which have gone towards my first 'old' style loan.
Now, I have been requested to begin payment of the 3 'new' style loans. This would mean an additional 9% of my salary being paid towards this, so in effect I will be paying 18% toward student loan repayments, which will be a struggle!
I have read the SLC website which states any person who has both style of loans may have to repay these simultaneously. But the situation it gives, is where a student has done one course under the 'old' style, then returned to Uni to do another course falling under the 'new' style.
This to me this seems extremely unfair, as I had no choice which scheme I fell under. I recall my Student Services Administrator, advising me I would be on different schemes to my peers, little did I know the consequences of this.
Do I have anything leg to stand on here?
Any advice would be much appreciated
Because I gained the placement under the 'old' scheme, i was entitled to a grant and also received the 'old' style loan for my 1st year at Uni.
For the subsequent 3 years I applied for loans which are now listed together on a sepearate account, so I'm assuming these were received under the 'new' style of loan.
Last October, without any correspondants, loan repayments at 9% were automatically being taken from my pay via Inland Revenue, which have gone towards my first 'old' style loan.
Now, I have been requested to begin payment of the 3 'new' style loans. This would mean an additional 9% of my salary being paid towards this, so in effect I will be paying 18% toward student loan repayments, which will be a struggle!
I have read the SLC website which states any person who has both style of loans may have to repay these simultaneously. But the situation it gives, is where a student has done one course under the 'old' style, then returned to Uni to do another course falling under the 'new' style.
This to me this seems extremely unfair, as I had no choice which scheme I fell under. I recall my Student Services Administrator, advising me I would be on different schemes to my peers, little did I know the consequences of this.
Do I have anything leg to stand on here?
Any advice would be much appreciated
0
Comments
-
Old style loans arent deducted from salary. They are paid by direct debit direct to the SLC.
Did you take a four year course?
If you did and have one account number with one loan and one account number with three years there has been a mistake and contact the SLC with both numbers.
It is weird to startpaying in October as well. Repayments for 'new' style loans begin in April. Check the account numbers and root out any correspondence.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards