ERUDIO student loans help

ericctheking

Off topic a bit but I am wondering what will happen when the interest rates change due to change in the RPI. It is set once a year I think.
That might also need watching closely!

anna2007

Princess_Jane wrote: »

Right, I've filled the form in, giving basically only my current address and income details.

I've seen blogs advising you not to sign the form, but I bet if you don't, they're going to send it back.

Can anyone confirm?

That's right Princess Jane, Erudio insist on the deferment form being signed - it's your 'certificate and warranty' that the income declared is correct, so no different to the old SLC form in that respect. BUT it's also your consent to their Fair Processing Notice, so if you don't agree to them sharing your data you can score out/remove the FPN altogether.

anna2007

dizzybuff wrote: »

if I send them the deferment letter do I need to include my benefits. I work full time and get ctc and wtc

I always had to declare my Child Benefit and CTC on the old SLC form and provide evidence, so did the same with Erudio this year.

I'm not 100% sure on this, maybe someone else can confirm, but I thought the only benefits excluded by the Regulations are any disability-related ones?

Edit: Also, if you only send a letter, your deferment will likely be refused until you sign their form - I don't think anyone requesting deferment by letter alone has been successful.

Jill18

Just posted on twitter by @MoneySavingExp
"Have you noticed an improvement with Erudio Student Loans? Or is there still work to do? Let us know your experiences"

anna2007

Jill18 wrote: »

Just posted on twitter by @MoneySavingExp
"Have you noticed an improvement with Erudio Student Loans? Or is there still work to do? Let us know your experiences"

Wow, you would think MSE would check in on the Erudio thread - tells them everything they need to know!!

Edit: I've just PM'd MSE's Helen to ask if she can get a statement from Erudio confirming the DD's no longer required, which would allow those in deferment to cancel the DD without fear of repercussions.

dave_t_4

I have tried to defer but have been rejected on the grounds that my gross income exceeds the 2398 (or whatever it is, can't remember off the top of my head) The problem is that my gross basic wage doesn't come anywhere near that amount, but with overtime I've worked for a few months prior to deferment I have gone over the threshold. Under SLC the overtime was never included within the basic wage but now with Erudio it is. Is this correct? I've argued with them and they've said it is now included and told me not to work overtime.

Princess_Jane

anna2007 wrote: »

That's right Princess Jane, Erudio insist on the deferment form being signed - it's your 'certificate and warranty' that the income declared is correct, so no different to the old SLC form in that respect. BUT it's also your consent to their Fair Processing Notice, so if you don't agree to them sharing your data you can score out/remove the FPN altogether.

The FPN is the part under the signature? I've crossed through anything that I believe isn't relevant, signed the crossings out and scanned the lot before I send it.

I'm ready for a scrap here!

anna2007

dave_t wrote: »

I have tried to defer but have been rejected on the grounds that my gross income exceeds the 2398 (or whatever it is, can't remember off the top of my head) The problem is that my gross basic wage doesn't come anywhere near that amount, but with overtime I've worked for a few months prior to deferment I have gone over the threshold. Under SLC the overtime was never included within the basic wage but now with Erudio it is. Is this correct? I've argued with them and they've said it is now included and told me not to work overtime.

From what I remember of the Regulations, the gross income that counts is that in the "relevant month", which is the month before the deferment form is sent to Erudio. They can also ask you to confirm that your gross income for the following 3 months won't be, or is unlikely to be, above the repayment threshold - both Erudio and the SLC have statements to this effect on their deferment forms.

I think in your case, the only option might be to reapply for deferment the month after you've earned only your basic pay, so your gross income's below the threshold. And I suppose it wouldn't matter if you then worked overtime in the 3 months following your application, as long as your total gross income for the year stayed below the threshold x 12?

The deferment can be backdated a maximum of 3 months from the date they grant the new deferment.

Hope this helps - good luck!

anna2007

Princess_Jane wrote: »

The FPN is the part under the signature? I've crossed through anything that I believe isn't relevant, signed the crossings out and scanned the lot before I send it.

I'm ready for a scrap here!

Yes that's the FPN, so that sounds right, basically anything you don't agree to. I also wrote on the form something to the effect that my signature at section 9 only related to the certificate & warranty and didn't imply any acceptance of a change to the original t&c's, or my consent to the sharing of deferred loan data with CRA's, then signed and dated that too. Not that Erudio took much notice, they still say they're entitled to disclose my data.

That's good that you're ready for a scrap, I'm just getting ready for round 2 with a complaint to the FOS

dizzybuff

because my basic is love my ctc and wtc are high and they are including them . im at my wits end as those are means tested . They ar now taking my child maintaiance into account , but its not even for me just comes into my account. I now need to negociate with the ex to get it paid into an alternative account