Student Loan Help -- Mature Student

kjglen24

Hi

I am looking for some help and advice...... I went to University 5/6 years ago but basically flunked out after a few months, I was extremely immature and if i'm honest couldn't be bothered.
I regret this no end and I now want to go back to University (Open University) to study and hopefully become a teacher.
I had student finance back then, and I vaguely remember recieving a latter from them saying I owed them money, being immature I left it.

I was wondering if anyone knew the procedure now, can I apply for student loan again to study? Can I pay anything back that I owe them and maybe start again? I hope I can get some financial support as I would not be able to study otherwise. I wouldn't need a loan to help pay for materials or living or anything just straight to the Open University for my Tutition Fees.

Any advice or help is greatly appreciated

Taiko

If you're behind with repayments on the previous loan, then you will be ineligible for any student loans. This could be a stumbling block for you, more so where you've ignored the previous letters.

That said, providing you do not have an equivalent level qualification to the course you are looking to study, you'd be eligible once you are up to date on the repayments of the previous loan.

jason1231972

Taiko wrote: »

If you're behind with repayments on the previous loan, then you will be ineligible for any student loans. This could be a stumbling block for you, more so where you've ignored the previous letters.

There's not really any way (unless the OP is self-employed?) they could be behind with payments if they stopped studying 5/6 years ago, as they'll be on a post-1998 income-contingent repayment plan...payments automatically deducted via PAYE if earning more than £15k, or no payment due if not earning enough. They will, though, receive 'you owe us money' letters at the end of every financial year. It's not a demand for payment, it's just a statement.

OP, your ability to get a new student loan package depends where you left off last time. If you actually graduated with an honours degree (it doesn't sound like you did?), you won't be able to re-finance. If you abandoned study earlier than that, you may be eligible.

However, slightly different rules re: finance and the OU, and there are also different funding packages associated with teaching courses, too - google the OU financial support criteria webpage, and you should find the answer.

Taiko

Unless of course the OP didn't notify their employer, in which case, they could well be behind. The SLC will have put a block on the account, that'll flag up as and prevent future funding until arrangements are up to date.

Dunroamin

jason1231972 wrote: »

There's not really any way (unless the OP is self-employed?) they could be behind with payments if they stopped studying 5/6 years ago, as they'll be on a post-1998 income-contingent repayment plan...payments automatically deducted via PAYE if earning more than £15k, or no payment due if not earning enough. They will, though, receive 'you owe us money' letters at the end of every financial year. It's not a demand for payment, it's just a statement.

OP, your ability to get a new student loan package depends where you left off last time. If you actually graduated with an honours degree (it doesn't sound like you did?), you won't be able to re-finance. If you abandoned study earlier than that, you may be eligible.

However, slightly different rules re: finance and the OU, and there are also different funding packages associated with teaching courses, too - google the OU financial support criteria webpage, and you should find the answer.

As the OP "flunked out" after a couple of months, he could well have received more student funding than he was eligible for. If this were the case, he could very well be in arrears as these sums would be repayable regardless of his income.

kjglen24

I have notified all my employers that I have a student loan.

I called SLC repayments section and asked them can I apply again or do I have to make any payments first they said No.

Then went through to student finane england to see if I was eligable and they said I was eligable for tutiton fee only (part time) Does this mean I have no repayments to make and that I'm ok?