ERUDIO student loans help

Pluthero

anna2007 wrote: »

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...

But they are not new to the Student loans business. Same backers as Honours/thesis, same outcome = make as much money as possible while just staying inside what could be considered lawful. They are just a DCA and I will not be playing their letter tennis games this year. Its all EMAIL except for initial deferment/income proofs.

fermi

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!

You need to go round and round the houses with SLC, and persist even if they deny there is anyone you can speak to, but you can in the end get through to someone.

anna2007

Pluthero wrote: »

But they are not new to the Student loans business. Same backers as Honours/thesis.

Sorry, that was all said tongue-in-cheek (apart from the bit about 2 sides of A4!).

kathrynha

Couple of questions:

Firstly, how soon before the end of the current deferment period would you expect to receive the new deferment form?

My deferment period works to about the start of the financial year which is less than 6 weeks away, and knowing how long Erudio take to confirm deferment, should I have received the form yet?

Secondly, I am trying to work out when my loan will be cancelled. My loans are from 95, 96, 97 and 98, and I was 18-22 at the time.
Some things I have read suggest as the first loan was in 95 that they will be cancelled at 50 or after 25 years. Some that I have read suggest that as the last one was 98 that they will be cancelled at 65. And something I read suggested that the 95-97 loans will be cancelled before the 98 loan.
I am confused. Please help. I am in England if that makes any difference.

Thanks

fermi

12. The lender will cancel the borrower’s liability to repay the loan if the borrower—

(a) dies,

(b) is not behind on any repayments under any agreement for a student loan and—

(i) was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner, or

(ii) was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60, or

(c) if the borrower can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work.

fermi

So in your case

when the last agreement for a student loan has been outstanding for not less than 25 years,

last being the 98 loan.

kathrynha

fermi wrote: »

So in your case

when the last agreement for a student loan has been outstanding for not less than 25 years,

last being the 98 loan.

So 25 years after my last loan, which will be 2023?
That's 8 more years of dealing with Erudio

Thank you Fermi.

So when should I start chasing this years deferment forms?

fermi

Should have been sent at least 8 weeks before deferment is due if I remember rightly, so I would start chasing NOW.

fermi

Even Erudio say on their site

Deferment forms are sent out 8 weeks before the end of the deferment period, however we recommend that you return your form as soon as possible to allow Erudio to process it in case we need to request additional information from you to complete your application.

kathrynha

Thanks Fermi