SLC/Student Finance advice please?

mrshortt1977

Hi everyone!

I've found myself in a tricky situation. i had an old-style (pre 1998) student loan debt outstanding that ended up getting passed on to a debt recovery service a few years ago, anyway I sent them the standard 'Statute Barred' letter and refused to acknowledge the debt since it had been 7 years since I'd last made a repayment. Incidentally, the reason I was unable to pay is I'd been unaware that it was necessary to renew my deferral, even though I was still way below the repayment threshold at the time.

Anyway, I'm starting a new degree in September and am currently applying for Student Finance. On the application form, there is a question:

"Do you have any previous loans with the Student Loans Company.... (and if so) Are you behind with the repayments?"

The accompanying notes state that if I answer yes to both, I should not apply for Student Finance until the matter is resolved.

But if I say 'yes', then isn't that an acknowledgement of the debt, meaning it would not be statute barred anymore? And can they not give me student finance on the strength of this?

Anyone know what I should do?

Matt

Taiko

In any case, you're not going to get funding. Just because it's statute barred, doesn't mean that it doesn't exist.

You're ineligible for any further loans, in accordance with Paragraph 4(3)(d) of The Education (Student Support) Regulations 2011.

mynameistallulah

mrshortt1977 wrote: »

the reason I was unable to pay is I'd been unaware that it was necessary to renew my deferral, even though I was still way below the repayment threshold at the time.

You managed to get a degree, but could not understand the (very simple) rules relating to student loans? :eek:

mrshortt1977

Where did I say I had a degree? More's the point, why are you using this thread as a means to sneer at and pick on people? Get a life.

mrshortt1977

Taiko wrote: »

In any case, you're not going to get funding. Just because it's statute barred, doesn't mean that it doesn't exist.

You're ineligible for any further loans, in accordance with Paragraph 4(3)(d) of The Education (Student Support) Regulations 2011.

So you don't think they'll give me anything? My tuition fees are paid by the NHS. What I need from Student Finance is an adult dependent's grant and childcare grant as I have a family to support whilst studying.

KingElvis

I know nothing about student loans as they didn't exist when I went to uni BUT, would you lend money to someone who hasn't paid you back in the past?

I wish you luck but computers have very long memories.

mrshortt1977

KingElvis wrote: »

I know nothing about student loans as they didn't exist when I went to uni BUT, would you lend money to someone who hasn't paid you back in the past?

I wish you luck but computers have very long memories.

Thanks KingElvis, and yeah, I know what you mean. Sad thing is though, if I'd lent money to an 19 year old kid, not got it back, and then he came back to me 16 years later a grown man with a wife and child and his head screwed on a lot tighter, asking for me to lend him more money to get an education and start a career, I personally would.

KingElvis

^^

I agree, people do change over that period of time, family and other factors also play a part to settle people down........but as I said, someone somewhere will pull your old file....maybe

Taiko

I know for certain you will get none of the above grants listed, or loans from SFE.

ViolaLass

mrshortt1977 wrote: »

Thanks KingElvis, and yeah, I know what you mean. Sad thing is though, if I'd lent money to an 19 year old kid, not got it back, and then he came back to me 16 years later a grown man with a wife and child and his head screwed on a lot tighter, asking for me to lend him more money to get an education and start a career, I personally would.

I might lend to him, but I would expect him to acknowledge the original debt and make arrangements to pay it back.

MrChandlerBing

mrshortt1977 wrote: »

Thanks KingElvis, and yeah, I know what you mean. Sad thing is though, if I'd lent money to an 19 year old kid, not got it back, and then he came back to me 16 years later a grown man with a wife and child and his head screwed on a lot tighter, asking for me to lend him more money to get an education and start a career, I personally would.

No, I would tell that person with their head 'screwed' on to pay of the original money the owe me, then we can discuss lending more.

You may have to put this course on hold because there is zero chance of you getting any more money from them