Student loans

Kami2

Hey guys just need some advice, i'm a student in my second degree. I was given a student bursary of £2000 last year, along with a student loan of £5000. This year I didn’t receive a bursary and phoned to ask why. I was informed that I am not entitled to a bursary and should not have received one last year either. They are now telling me that I need to pay last year’s bursary back as a loan.

I budgeted for last year and spent this bursary accordingly. If i had know this was a loan, i would have spent less and not taken this extra £2000 loan. I have a letter clearly stating this is a bursary and considering it was there fault am I legally obliged to pay this back. Secondly if I am, can I pay it back as I wish (i.e 1p/month).

Thank You

DCFC79

Id write to them saying you will pay back x amount each month

bigadaj

Raise a complaint and try Nd back up your claim with letters, emails, phone records etc.

You should be able to arrange a payment plan if unsuccessful on the appeal, but do a statement of affairs to justify what you can afford.

Bad_website

One thing they certainly will not do is accept 1p a month

fart

If you're on a second degree you shouldn't be entitled to any funding unless you dropped out of the first one.

somethingcorporate

You need to be reasonable, whether or not they made the mistake.

1p per month is not reasonable and more than likely to make them dig their heels in and be unhelpful.

You should have done your research before applying for a second degree, it is largely common knowledge that you don't get funding if you completed your first (otherwise people would perpetually stay in university on the tax payers dime).

TheMoney

As mentioned above, write and give them a figure your willing to pay. It was their mistake initially, and in rectifying the mistake they cannot force you into financial hardship, although don't take this too far and offer the said 1p/pm. Dependant on your income, a payment of maybe £10 - 50 per month should be acceptable, and atleast shows them your willing to pay them back

fart

TheMoney wrote: »

As mentioned above, write and give them a figure your willing to pay. It was their mistake initially, and in rectifying the mistake they cannot force you into financial hardship, although don't take this too far and offer the said 1p/pm. Dependant on your income, a payment of maybe £10 - 50 per month should be acceptable, and atleast shows them your willing to pay them back

No jobless student can afford that.

Offer them whatever you can afford, they're not legally allowed to refuse an offer of payment unless it's blatant that you can afford more - whether that be 1p or £1. Some lenders accept this kind of payment without proof, others will expect you to list your outgoings before they accept.

joolsybools

Kami2 wrote: »

Hey guys just need some advice, i'm a student in my second degree. I was given a student bursary of £2000 last year, along with a student loan of £5000. This year I didn’t receive a bursary and phoned to ask why. I was informed that I am not entitled to a bursary and should not have received one last year either. They are now telling me that I need to pay last year’s bursary back as a loan.

I budgeted for last year and spent this bursary accordingly. If i had know this was a loan, i would have spent less and not taken this extra £2000 loan. I have a letter clearly stating this is a bursary and considering it was there fault am I legally obliged to pay this back. Secondly if I am, can I pay it back as I wish (i.e 1p/month).

Thank You

If they are saying this then surely it would come under the T&Cs of a student loan, i.e. you only start paying back when you are earning over a certain amount. What exactly did the letter say? (assuming it was a letter, if not have they confirmed this in writing?)