ERUDIO student loans help

Voyager2002

GirlGeek wrote: »

Not a bad article, covers some of the problems briefly. Though the best part has to be, 'if you're worried call Erudio'!!!! Really?! :rotfl:

Anyone who writes about "former graduates" is at best sloppy, at worst lacks the most basic knowledge. People affected by Erudio are surely former students; most of them are graduates; but in order to be a "former graduate" they would have had to have been stripped of their degrees! That can happen when it turns out that someone gained a degree fraudulently, but it is very unusual.

JeLaw

GirlGeek wrote: »

Not a bad article, covers some of the problems briefly. Though the best part has to be, 'if you're worried call Erudio'!!!! Really?! :rotfl:

It's good to have the media covering this but I can't help thinking some readers might not realise that those of us being "chased" by Erudio are genuinely eligible for deferment. The way the article refers to Erudio "chasing former students for debts" could be taken to mean we are defaulters.

erudioed

Erudio has amended its FAQ to include a recent questions segment.
Here is one sample:
How is the new deferment threshold for 1st September onward calculated?
The Education (Student Loans) Regulations 1998 defines the threshold as 85% of the lender’s estimate of the average earnings of all full-time employees in Great Britain for the January when the level will apply. BIS (Department for Business, Innovation and Skills) make this calculation, which is based on figures published by the Office for National Statistics. Based on this calculation BIS has informed Erudio that from 1 September 2014 to 31 August 2015 the deferment threshold will be a gross annual income £26,727 (equivalent to £2,227 a month).
As is the case for all deferments reviewed by the Student Loans Company (SLC), deferment applications will be assessed by Erudio on the threshold applicable on the date the deferment application form is received.





I wonder when exactly Erudio were informed by BIS? Way before or as it went to press for the rest of us.

erudioed

Just curious because I know little about the machinations of government/private industry communications but does anyone else know the implications of Capita staff or Arrow Global staff, or the Wilmington Trust staff knowing information about the deferment threshold drop before it was officially announced?
Is it normal for this kind of info to be passed from the Government beforehand to interested private parties, or is that tantamount to the equivalent of insider trading, or actually the same as insider trading...i know the Arrow Global Group has floated, so to speak.

GirlGeek

JeLaw wrote: »

It's good to have the media covering this but I can't help thinking some readers might not realise that those of us being "chased" by Erudio are genuinely eligible for deferment. The way the article refers to Erudio "chasing former students for debts" could be taken to mean we are defaulters.

It does read in parts like we're all defaulting on our loans and legally being 'chased'. Very few journos are going to cover our issues properly and fully, or without any political 'side'.

anna2007

Voyager2002 wrote: »

Anyone who writes about "former graduates" is at best sloppy, at worst lacks the most basic knowledge. People affected by Erudio are surely former students; most of them are graduates; but in order to be a "former graduate" they would have had to have been stripped of their degrees! That can happen when it turns out that someone gained a degree fraudulently, but it is very unusual.

Simon Read seems to have had a good understanding of the issues in his previous articles - maybe he was having a bad day when he wrote this latest one? The link on his Twitter page even suggests another scandal in the making (and he tweeted that it seemed wrong when first announced), then the article doesn't read that way at all, more like tough !!!!!! folks, and the advice to call Erudio if we're worried is so bad it's almost funny.

I think the most disappointing thing is that he seems to have just accepted BIS's claim that it's a "regular adjustment to the deferral threshold" when it's anything but regular - I thought it was the media's job to establish the facts - silly me!

cluelessfish

GirlGeek wrote: »

It does read in parts like we're all defaulting on our loans and legally being 'chased'. Very few journos are going to cover our issues properly and fully, or without any political 'side'.

but they should ask questions about the information that is given to them.

question: why has the level changed

answer: its regular adjustment

investigation complete write article job done.

anna2007

erudioed wrote: »

Just curious because I know little about the machinations of government/private industry communications but does anyone else know the implications of Capita staff or Arrow Global staff, or the Wilmington Trust staff knowing information about the deferment threshold drop before it was officially announced?
Is it normal for this kind of info to be passed from the Government beforehand to interested private parties, or is that tantamount to the equivalent of insider trading, or actually the same as insider trading...i know the Arrow Global Group has floated, so to speak.

BIS said the calculation's based on the average earnings and earnings growth figures at April 2014, from what I've seen, those figures were released by the ONS in June, so BIS/Erudio most likely would be aware of the deferment level in July? Of course, if something's changed in the method of calculation, then they've no doubt known since before the sale concluded! I'd have thought it would be ok for BIS to inform Erudio, as the new owners, of the threshold before being officially announced? But with such a significant drop, it does all add to the feeling that they've been conspiring on the deferment level...


SLC announced last year's threshold on 8 August, so they haven't changed the timing of it.

GirlGeek

That's what we understand journalism to be, but we've seen what it's really like over the last ten years! Most of them can't even put a sentence together correctly, let alone report the facts.

cluelessfish

does any one know why the threshold for ic loans didn't see a similar drop? are they not linked to average earnings in a similar way? also are there any other figures (taxes, benefits or public sector pay/spending) that are based on average earnings?