Student Loan 2015 Discussion

dedom

Does anyone know if there is any finance/funding available for low income students to study a private course? I'm wanting to study complementary therapy but the course fees are almost as much as University.

I've looked through everything on this site and Student Finance Wales but can't find the answer. Phone lines for Student Finance Wales just goes round and round and can't speak to anyone. College that I'm approaching don't have the answers.

Any advice would be greatly appreciated.

GeneHunt_2

dedom wrote: »

I'm wanting to study complementary therapy but the course fees are almost as much as University.

Is it a degree course?

little_miss_spender

MSE_Wendy wrote: »

This is the discussion area for the new

Students Loan 2012 guide

Please let us know what you think below.

There is loads of info for students going to university but virtually nothing for student going to colleges. What about students that can not afford the equipment they need and uniforms for example hairdressing and beauty courses to start they need about £200 worth of equipment and if they are from a low income family what are they supposed to do? Especially now they also do not get EMA. so any help would be great thankyou little miss spender

little_miss_spender

I am aware of the discretionaryt bursary fund that alledgedly all colleges have available to them. But you have to meet certain criteria which is very limited and does not help students from low income families.

Dunroamin

little_miss_spender wrote: »

There is loads of info for students going to university but virtually nothing for student going to colleges. What about students that can not afford the equipment they need and uniforms for example hairdressing and beauty courses to start they need about £200 worth of equipment and if they are from a low income family what are they supposed to do? Especially now they also do not get EMA. so any help would be great thankyou little miss spender

Whilst in FE, students' parents can carry on receiving both child benefit and child tax credit for them which is intended to cover the ongoing costs of them remaining in education.

Some colleges may have additional funds available to contribute towards equipment costs.

maidencrew

I urgently need some advice. My son has failed first year of his degree by 1 module(10 credits). He has been told he needs to attend for the next academic year for 1 hour per week for the first term only as a resit.

I have read information on various sites and it seems he will still be classed as a full time student on a repeat year.

How will this effect his student loan? He only has to pay £200 tuition fees but has obviously already signed a years contract for student accommodation. Will he still be entitled to the full maintenance loan? His accommodation amounts to about £4500 for the year which he cant afford without the loan.

He was supposed to be moving in tomorrow! Help

kazd

Can someone please advise me on the figures Martin quotes for the maintenance loan.

Martins figures
£40k income = £5230 (loan) + £540 (grant)

£45k income = £5288 (loan) zero grant

Directgov figures

£44500 taxable pay after pension deduction

£4215

Why the difference?

setmefree2

The Office for National Statistics (ONS) has started a consultation on changes to the calculation of the retail prices index (RPI).
These would make the RPI move more slowly, in step with the consumer prices index (CPI).

The consultation lasts until the end of October, with any changes starting in March next year.

http://www.bbc.co.uk/news/business-19826770

Lower RPI = lower interest costs for students in the future.

hi123

hi i am a high rate tax payer and daughter has got an offer to study medicine
i am in position to pay about 10k per annum to fund her
can i have some guidance as to what will be best for me to do for her
get student loan or maintennance loan or both and repay early
thanks in advance
mods if this needs to be in other forum please move

atypical

hi123 wrote: »

i am in position to pay about 10k per annum to fund her
can i have some guidance as to what will be best for me to do for her
get student loan or maintennance loan or both and repay early

This is a difficult question to answer with no clear right answer. You have the benefit of knowing what she is likely to be earning and when once she graduates.

You should therefore be able to calculate a relatively accurate figure of how much she will repay using this tool. If she will repay less than she would have paid upfront it obviously makes sense to take the loans.

There's a good guide by Martin here:
http://www.moneysavingexpert.com/students/should-i-get-student-loan

NB: She will be charged RPI+3% on her loans for all the time she is studying.