Student Loan 2015 Discussion

gingersims

Hi!

I've been reading through the 2012 guide, as although I'm not starting until next year, I'm looking into university and money now! It has been really helpful!

I am hoping to do a Midwifery course, and I believe these are NHS funded, would there be any way of making the calculator and information to include information about NHS funded courses?

Thanks! :j

karleastham

Hi there,

I have a student loan (around £18000) from my course 2005-2009, which is should be paid back when I'm earning above £15000.

However, I'm also starting a PGCE and will be taking out another loan totalling around £15000. This will be under the new system and paid back when I'm earning over £21000.

I now don't really understand how much I will pay back on a salary of, say, £25000. Will it be 9% of everything over £15000 or 9% of everything over £21000?

Also, will there be 2 separate interest rates on the different loans, or is it treated as one?

Thanks for any help, or any direction as to whom I could ask.

Karl

avv_2

I would Study outside the UK - Universities in South Africa - charge between 2500.00 to 3500 Pounds for Degree Courses per year - accommodation costs are +- 250 pounds per month - other cost - food, books, travel say another 250, this is a 1/3 of the cost to the UK University Fees and Maintenance. Look further afield - Holland, Belgium, Germany Japan, South Africa are all far cheaper - the higher you earn in the UK the more you end up paying for your study loans, makes no sense, the ones that will benefit from the loans are the ones with low income earnings and not exceeding the 21 000. A 4 year course in the UK sets you back in loan repayments to 133.000 pounds over 30 years.
Imagine paying 50% tax on an income of 42.000 pounds this includes study loan tax, you left with 20 000, you cant even buy a property...... I would highly consider studies overseas, do your homework.

ziportocalie

Hi all,

I am just about to start Uni doing enviromental studies and was wondering if there/if anybody knows of grants/bursaries/any help for this particular field?

Many thanks

ps:i'm over 25,if that makes any difference

timz

Hi Martin,

My daughter has completed year 1 of a BA Philosophy course but wants to switch to a joint Philosophy/Psychology degree at the same uni. She hasn't got the credits in Psychology to transfer to year 2 so must start again. The uni has advised her to transfer to Psychology as a single subject for year 1 and then in year 2 move to the joint degree.

So I asked Student Finance England whether she would receive her loan under the old system (as she did for last year) or the new one (up to £9k tuition fees). I spoke to three people there. One said it will be the old system, one said it will be the new system and the other said it depends what the Uni charges - if that is more than the £3,375 then it will be the new system.

What is the answer, please? She is very worried about going to the new system and would need to stick with Philosophy if that applies.

tyllwyd

timz wrote: »

... So I asked Student Finance England whether she would receive her loan under the old system (as she did for last year) or the new one (up to £9k tuition fees). I spoke to three people there. One said it will be the old system, one said it will be the new system and the other said it depends what the Uni charges - if that is more than the £3,375 then it will be the new system. ...

Have you asked the University what they would charge? What was the answer? Are they regarding it as a continuation of the course she has already started, or a fresh start in 2012?

leyyaps

I run a nightclub business that depends on student trade. Will the higher student fees effect the amount of money in students' pockets available to spend on items that aren't essential for their education (e.g. booze or club entry)?

If there is no change, is their any evidence from other countries implementing higher fees that the psychology surrounding discretionary spending changes? Perhaps, a realisation that 9K a year is a lot and spending a large amount of it on drinking is perhaps not such a wise move.

Lokolo

leyyaps wrote: »

I run a nightclub business that depends on student trade. Will the higher student fees effect the amount of money in students' pockets available to spend on items that aren't essential for their education (e.g. booze or club entry)?

No.

leyyaps wrote: »

If there is no change, is their any evidence from other countries implementing higher fees that the psychology surrounding discretionary spending changes? Perhaps, a realisation that 9K a year is a lot and spending a large amount of it on drinking is perhaps not such a wise move.

No idea about the pyschological effect though. Some may be a bit tighter and then use the money to pay back some of what they have borrowed instead of having the debt there. But I very much doubt it for the majority.

melancholly

http://blog.moneysavingexpert.com/2012/08/14/once-ive-got-a-student-loan-can-the-government-change-the-terms/

In case anyone didn't see this blog post, it tries to address the issue that has come up a lot on here about how fixed the terms are. Not sure it's resolved it, but it lays it all out.

gadgetmind

Daughter has applied for the loan but we're still unsure as to whether to go for it was the interest rate is just so high. However, they allow early repayments, and it does derisk things if she doesn't last the course.