ERUDIO student loans help

in Credit File & Ratings
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  • Of course I can now start to fight for repayment.
    Oops, missed this bit :o

    Glad to see you're going to fight for your money back!
  • Ed-1 wrote: »
    By 'terms and conditions' if we are talking about mortgage-style and income contingent, then post-98 loans will only be income contingent if a new course was started in September 1998 or later. Loans taken for courses starting before September 1998 that continued after 1998 will still be mortgage-style.

    If by 'terms and conditions' we are talking about consumer credit regulation and ability to report to credit reference agencies etc. then yes, the terms switch for new mortgage-style loans taken out after September 1998.

    Erudio/Honours/Thesis only own mortgage-style loans and any one company may own loans taken pre/post-98.

    This is why I was getting confused I think. My loans span 98 and are all mortgage style, rather than a mixture of the two types, so I thought they would all have the t&c's of the first loan.
  • anna2007anna2007 Forumite
    1.2K Posts
    Lungboy wrote: »
    This is why I was getting confused I think. My loans span 98 and are all mortgage style, rather than a mixture of the two types, so I thought they would all have the t&c's of the first loan.
    Your loans from 98 onwards should be on the revised MS t&c's, so slightly different to your earlier loans, copies of both versions here:


    http://forums.moneysavingexpert.com/showthread.php?t=4945901
  • Chadsman wrote: »
    ...anyone?

    If it helps I suspect its the 15th of the month. I have a letter saying my payments are due on the 15th of Jan 2015 and I'm sure others have posted something along similar lines.
    Paying for uni to get a job... just to get a job to pay for uni
  • Ed-1 wrote: »
    So if you've got both mortgage-style and income contingent repayment loans then you must have started a new course after 1998?

    I completed a course 1996-99 and then started a new one year postgraduate course 1999-2000. As such I assume that my T&Cs changed for at least one if not two of my loans. This is why I am not at all keen to use the DAF sent to me by ESL as essentially in my mind, by submitting the form I am consenting to changes in those original T&Cs thus bringing all four loans conveniently 'in to line' for ESL.
    Paying for uni to get a job... just to get a job to pay for uni
  • If it helps I suspect its the 15th of the month. I have a letter saying my payments are due on the 15th of Jan 2015 and I'm sure others have posted something along similar lines.
    From the covering letter with the deferment application pack:

    "We are writing to let you know that the repayment of your Erudio loan(s) is due to start at the end of your current deferment period on 09/06/14.

    Under the terms and conditions of your agreement, your loan(s) needs to be paid by Direct Debit. If you have a DD set up please ensure that you have sufficient funds available in your bank on the 10th of each month".

    And from the annual statement covering letter:

    "From 1st September 2014 to 31st August 2015, unless you are in deferment, you need to pay £x on the 10th of each month, or on the next business day if the payment date falls on the weekend or Bank Holiday".

    So repayment should be due the day after your deferment ends (assuming Erudio are treating people consistently!), but either of these covering letters should confirm the date.
  • Thanks Anna... clears that one up. Mine is the 15th and I'm sure I had read elsewhere that others had put the 15th but hey ho, makes complete sense that they would want a payment as soon as your time was up!

    This is my complaint letter to ESL if it interests anyone. I know that the DD issue has been resolved some time ago but included it in my complaint because they are still trying to get people to use the old DAF.

    a) In your cover letter you state that 'Under the terms and conditions of your agreement, your loan(s) needs to be repaid by Direct Debit.' Elsewhere in the application pack itself, it states 'You are required to maintain a direct debit mandate for your repayments regardless as to whether your repayments are deferred. Failure to do this constitutes a breach of your agreement.' Does ESL ltd stand by these statements? If not, please explain why they are made in my application pack sent on 19th November 2014.

    b) Can you confirm the legal position as ESL ltd defines the legislation relating to applications for deferment? I can find no reference or legal basis for an application for deferment to be refused on the grounds that the borrower must submit a standard form. Requirement and authorisation for contact with third parties does not exist in the Education (Student Loan) Regulations 1998 or in the original loan agreements. As far as I am aware, no agreement for contact with third parties to 'check' or 'verify' anything in relation to a request for deferment exists outside the 'Deferment Application Form' which in itself has no legal basis.

    c) There are several questions asked in the application form which are not relevant to the deferment conditions as set out by the legislation. Are ESL ltd aware of this and working to correct and clarify the situation?

    d) In the application pack it states under the Fair Processing Notice (FPN) 'Accordingly therefore by submitting this application you confirm that you consent for Erudio to perform relevant checks at credit reference and fraud prevention agencies. If your application for deferral is accepted, information that you have a deferred loan will be registered with credit reference agencies' Does the act of just submitting a form for deferral imply that the borrower gives informed consent to changes in the original terms and conditions?


    I am still waiting to hear from them having now sent two copies. It seems that they just want to hold up applications
    that won't use the forms in order to stick us in arrears!
    Paying for uni to get a job... just to get a job to pay for uni
  • fermifermi Forumite
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    Mine was always the 24th.
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  • Well my gob is well and truly smacked.
    I sent them the DAF minus the back page and bottom of p5 missing two weeks ago and had it confirmed today the deferment is accepted.
    Still not sure I quite believe it.


    The age of miracles is not yet passed!
    God save the Queen!
    I'll save Elizabeth Fry, Charles Darwin, Adam Smith, Matthew Boulton and James Watt.
  • I expect Erudio can print out again the parts you missed and staple them in.
    Still rolling rolling rolling...... :) <
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