Student Loan 2015 Discussion

atypical

Dustykitten wrote: »

Does anybody know how you would pay back your loans if you became self employed and paid yourself via dividends?

I'm quite sure it's classed as any other income so you would repay 9% of anything above £15,000.

Dustykitten wrote: »

Second question. If like lots of people you know you start one degree, do a year or less and then realise you should have chosen a different degree and start again would you be entitled to another set of loans and just have a bigger loan?

You get funding for the duration of the course you start on + 1 year.

So if you start a 3 year course and change your mind 1 year in, you can get funding for the duration of a new 3 year course.

helen1k

Hi, can someone please help me. I'm literally at the end of my tether! My 19 year old daughter started uni last year. I'm a single parent with an 11 year old at home. I'm a nurse, work full-time and have never claimed a penny off the government. I am solely financially responsible for my student daughter, earn under £30000 per year so she should qualify for the grant. I bought a house with my 69 year old mother who still works part-time as she likes to pay some of her way. I pay the mortgage and bills, etc. Because my mom still works and gets approximately £65 per week, we both have to pay council tax. Student finance use council tax benefit as their standard for proving a parent is single and solely financially responsible.
I have spent so long trying to get round this and I'm desperate to get this grant for my daughter as I'm now applying for yet another loan just to pay her rent. Please, can someone help me? I spend nights awake worrying about this.

melancholly

helen1k wrote: »

Hi, can someone please help me. I'm literally at the end of my tether! My 19 year old daughter started uni last year. I'm a single parent with an 11 year old at home. I'm a nurse, work full-time and have never claimed a penny off the government. I am solely financially responsible for my student daughter, earn under £30000 per year so she should qualify for the grant. I bought a house with my 69 year old mother who still works part-time as she likes to pay some of her way. I pay the mortgage and bills, etc. Because my mom still works and gets approximately £65 per week, we both have to pay council tax. Student finance use council tax benefit as their standard for proving a parent is single and solely financially responsible.
I have spent so long trying to get round this and I'm desperate to get this grant for my daughter as I'm now applying for yet another loan just to pay her rent. Please, can someone help me? I spend nights awake worrying about this.

i'm not quite sure what grant you mean? maybe a few more details would help? what income does she have and where is it being spent? have their been problems with the student loans company loans? has she done everything she needs to do for student finance?

so this bit will sound harsh - your daughter needs to act like more of an adult. she needs to look at part time work, student overdraft, access to learning funds and all the other options out there for students to make money. if she chooses carefully, it's almost always possible to live for a year off the maintenance grant/loan in terms of paying rent. she needs to do something as well as you. (don't mean to be too harsh, but you sound very stressed and i think it's highly unfair for her to have left you in this situation). helping her out a bit is one thing; covering all her rent when you can't afford isn't realistic.

you may find starting a new thread gets you the most responses though - people here should be able to help, but might need some more information to do that.

emidee

Hi everyone,

I very much doubt there is any information around about this yet, but I thought I'd ask, just in case.

Does anyone know what the repayment situation would be for a pre-2012 student who graduates (having taken out student loans on the old system), & then, post-2012, goes on to study a PGCE or a subject like Medicine or Dentistry for which they take out further, new-system student loans?

Thresholds & % rates are different for both systems, so how would their repayments be calculated? :undecided

Thanks to anybody with an opinion about this!

Emily.

Pictodemon

My daughter (but mostly me) is fretting over whether to go to Uni this September (current rules), or take a gap year (new rules), so I am scouring the info on the site. I am a little confused about one figure in the "repayments table" (para 17 of article). If I select £6000 tuiton cost and "In today's money", the table states that a student on a starting salary of £20,000, rising to £35,000 in 30 years will pay back £79,000. Surely that cannot be correct. Please tell me that it should read £7,900.

Dustykitten

Pictodemon - if it was my child I'd advise go this year, do not delay and take the gap year after uni. Assuming that your daughter knows which course she wants to do, is happy with this decision and of course has a confirmed place. The figure of £79,000 includes all the interest which is accrued over the repayment period of the loan - scary isn't it.

JimmyTheWig

Pictodemon wrote: »

If I select £6000 tuiton cost and "In today's money", the table states that a student on a starting salary of £20,000, rising to £35,000 in 30 years will pay back £79,000. Surely that cannot be correct. Please tell me that it should read £7,900.

The tuition cost is per year, so it's got to be more than £7,900 in total.

Oldernotwiser

Pictodemon wrote: »

My daughter (but mostly me) is fretting over whether to go to Uni this September (current rules), or take a gap year (new rules), so I am scouring the info on the site. I am a little confused about one figure in the "repayments table" (para 17 of article). If I select £6000 tuiton cost and "In today's money", the table states that a student on a starting salary of £20,000, rising to £35,000 in 30 years will pay back £79,000. Surely that cannot be correct. Please tell me that it should read £7,900.

It would be a very brave (or foolhardy) student who would voluntarily take a gap year in 2011; this gap year will cost an additional £18,000 plus interest!

ally39

My daughter is hoping to go to uni in 2012. Enjoyed reading the guide but I am still confused about exactly what students on nursing courses are entitled to. Why do they only get 50% maintenance grant, this doesn't seem fair?

Oldernotwiser

ally39 wrote: »

My daughter is hoping to go to uni in 2012. Enjoyed reading the guide but I am still confused about exactly what students on nursing courses are entitled to. Why do they only get 50% maintenance grant, this doesn't seem fair?

Because they can get an additional grant and a means tested bursary. As, in addition, their fees are paid for them, it doesn't seem unfair to me.

http://www.nhscareers.nhs.uk/details/Default.aspx?Id=89