ERUDIO student loans help

Moneyer

My wife has 1996,97,98 loans deferred continuously since first due. The 96 and 97 loans were sold to Thesis a few years back but still administered by SLC, the 98 loan last year to Erudio.

Coming up to the first deferment since the Erudio sale, she was expecting the much-maligned Erudio deferment form, but instead has received a form from SLC which claims to be for deferral of both Thesis and Erudio loans.

Is this normal? In other words, do some Erudio loans still have deferment handled through SLC?

anna2007

Moneyer wrote: »

My wife has 1996,97,98 loans deferred continuously since first due. The 96 and 97 loans were sold to Thesis a few years back but still administered by SLC, the 98 loan last year to Erudio.

Coming up to the first deferment since the Erudio sale, she was expecting the much-maligned Erudio deferment form, but instead has received a form from SLC which claims to be for deferral of both Thesis and Erudio loans.

Is this normal? In other words, do some Erudio loans still have deferment handled through SLC?

Yes, the SLC are continuing to handle deferment for any "shared borrowers", i.e. where a borrower's loans are split between different owners.

Your wife can count herself as one of the few who've had a lucky escape!

anna2007

eroneo wrote: »

I was hoping to see all the issues put before a judge but as you say, being no longer forced to sign the new DAF+FPN to defer means the unfair relationship may not apply to that issue any more.

Unless the draft DAF has changed, which seems unlikely, then Erudio are still forcing the CRA issue - they're just taking a different approach. They've gone from being sneaky last year to completely blatant on the revised form. The 'certificate and warranty' on page 5 now states "I have read the terms and conditions as set out overleaf", which details their "right" to credit searching and reporting, and disclosure to other third parties... basically everything we objected to in the FPN. It even refers back to last year's FPN, which I take to be another attempt to obtain our agreement to it.

Copy of the draft DAF here:

http://images.moneysavingexpert.com/images/documents/20141029_erudio_strudent_loans_deferment_form.pdf?_ga=1.144605235.702218692.1420321945

And the thread where we gave feedback on the draft DAF:

https://forums.moneysavingexpert.com/discussion/comment/66876180#Comment_66876180

Will be interesting to see how many of the comments were actually taken on board by Erudio and resulted in further changes to the draft...

Erudio have had best part of a year to sort their sorry mess of a DAF out. If the final version is essentially the same as that draft, then they're still trying to force new t&c's on us, and the unfair relationship surely still exists.

Moneyer

anna2007 wrote: »

Yes, the SLC are continuing to handle deferment for any "shared borrowers", i.e. where a borrower's loans are split between different owners.

Thanks! Do you know if Erudio have any chance to throw a spanner in the works, e.g. do they get to review the application and request more info if they want it? Or do they just have to abide by SLC's decision?

anna2007

Moneyer wrote: »

Thanks! Do you know if Erudio have any chance to throw a spanner in the works, e.g. do they get to review the application and request more info if they want it? Or do they just have to abide by SLC's decision?

Erudio would have no say in the deferment process if it's handled by SLC. They might try it on and say they haven't been told by SLC that the loans have been deferred, but SLC should notify them. You could play it safe and email Erudio a scanned copy of SLC's deferment letter? Remember to add a at the end!

There's some info on Erudio's website under FAQ's ('Any other questions' at the end of the page) about shared borrowers - the part about choosing which owner to defer with is rubbish though (and as if anyone would willingly choose Erudio's deferment nightmare!), there's been an FOI response from BIS confirming that SLC will continue to defer shared borrowers' loans, details here:

https://www.whatdotheyknow.com/request/responsibilities_agreed_for_proc

Pluthero

anna2007 wrote: »

Unless the draft DAF has changed, which seems unlikely, then Erudio are still forcing the CRA issue - they're just taking a different approach. They've gone from being sneaky last year to completely blatant on the revised form. The 'certificate and warranty' on page 5 now states "I have read the terms and conditions as set out overleaf", which details their "right" to credit searching and reporting, and disclosure to other third parties... basically everything we objected to in the FPN. It even refers back to last year's FPN, which I take to be another attempt to obtain our agreement to it.

Copy of the draft DAF here:

http://images.moneysavingexpert.com/images/documents/20141029_erudio_strudent_loans_deferment_form.pdf?_ga=1.144605235.702218692.1420321945

And the thread where we gave feedback on the draft DAF:

https://forums.moneysavingexpert.com/discussion/comment/66876180#Comment_66876180

Will be interesting to see how many of the comments were actually taken on board by Erudio and resulted in further changes to the draft...

Erudio have had best part of a year to sort their sorry mess of a DAF out. If the final version is essentially the same as that draft, then they're still trying to force new t&c's on us, and the unfair relationship surely still exists.

Simple solution is not to use the Erudio DAF whatever version. They will not Bring court proceedings in order to force you to use it because they would lose. So you simply send your own INCOME proofs fulfilling the ORIGINAL loan conditions and ignore all their Threat o gram letters.

Moneyer

anna2007 wrote: »

There's some info on Erudio's website under FAQ's

Aha yes, I managed to find some info myself once you'd given me the key the jargon "shared borrower" to search for!

The only worry is that there seems to be no way to talk to SLC about deferment or mortgage-style loans any more: they don't provide a phone number and instead direct all queries to Erudio or Thesis. But if they don't process the application in a timely manner (which has happened once or twice in the past), the only way to chase it up is to call Erudio or Thesis, who I suspect will just say they don't know anything about it . Fingers crossed that won't happen….

Thanks again, anyway!

anna2007

@ Moneyer I'm sure someone's posted on the forum to say there is some sort of 'customer liaison' at SLC for shared borrowers?

Will have a look, or someone else might be able to confirm that.

Edit: Post 2419 here:
https://forums.moneysavingexpert.com/discussion/comment/67019306#Comment_67019306

Apparently so ..... "Liasion Department" was the exact term used by SLC customer services, they may have been refering to the people who deal with split loans though.

Even so I have only one pre 98 loan that has been sold to erudio and the SLC customer services still accessed my records instantly when given the reference number.

Pluthero

Moneyer wrote: »

Aha yes, I managed to find some info myself once you'd given me the key the jargon "shared borrower" to search for!

The only worry is that there seems to be no way to talk to SLC about deferment or mortgage-style loans any more: they don't provide a phone number and instead direct all queries to Erudio or Thesis. But if they don't process the application in a timely manner (which has happened once or twice in the past), the only way to chase it up is to call Erudio or Thesis, who I suspect will just say they don't know anything about it . Fingers crossed that won't happen….

Thanks again, anyway!

I am pretty sure someone posted a while back that the SLC do still have staff/dept dealing with split loans. It would be required because they are STILL in charge of them.

Anyone else remember this?

anna2007

Pluthero wrote: »

Simple solution is not to use the Erudio DAF whatever version. They will not Bring court proceedings in order to force you to use it because they would lose. So you simply send your own INCOME proofs fulfilling the ORIGINAL loan conditions and ignore all their Threat o gram letters.

Yes, I was playing nice last year, as Erudio were new to this student loans business and I wanted to give them a fair chance to put things right and treat me fairly

I don't have a problem with completing Erudio's new DAF, as long as it's a simple, 2-sides-of-A4 statement/certification of my income and nothing more...