Student loans ~ pls settle an argument

bundly

My friend aged 57 reckons it's possible for him to get a student loan to study for a degree, and that because he will be 60 once he graduates, and will be on a pension, he will never have to repay the loan.

This doesn't sound right to me. Also I thought you could only get a loan for a first degree, and he already has one (albeit 30 years ago).

Can anyone settle this argument please?

B.

tomtontom

He's right on the first part - I agree it is ridiculous.

On the second part you are correct, if he has a full first degree he will not receive funding for a second.

bundly

tomtontom wrote: »

He's right on the first part - I agree it is ridiculous.

On the second part you are correct, if he has a full first degree he will not receive funding for a second.

Oh, so we are both right. .

But how curious that you really can get a student loan at such an age -- is there an upper age limit?

And do these loans cover part time degrees that you do from home, like OU, or just for courses where you have to physically attend the classes, do you know?

Not that I can benefit, as I already have an OU degee, but just curious, and someone else may ask me.

B.

Indie_Kid

tomtontom wrote: »

On the second part you are correct, if he has a full first degree he will not receive funding for a second.

Not quite. It depends on the degree.

missbiggles1

bundly wrote: »

Oh, so we are both right. .

But how curious that you really can get a student loan at such an age -- is there an upper age limit?

And do these loans cover part time degrees that you do from home, like OU, or just for courses where you have to physically attend the classes, do you know?

Not that I can benefit, as I already have an OU degee, but just curious, and someone else may ask me.

B.

You can't get a maintenance grant for a full time degree when you're over 60 but tuition fees for both full and part time courses don't have an age limit - it would be discriminatory if they did.

bundly

Thanks Miss.

wileycat

I don't think it matters which degree it is, you can only get a student loan once...so if you did a degree but didn't take out the loan, and then did a second one you can have the loan on that one

bundly

wileycat wrote: »

I don't think it matters which degree it is, you can only get a student loan once...so if you did a degree but didn't take out the loan, and then did a second one you can have the loan on that one

Oh, I see. Well when my friend and me did our degrees there was no such thing as a student loan.

So does that mean he is right, and he can get one?

B.

Indie_Kid

wileycat wrote: »

I don't think it matters which degree it is, you can only get a student loan once...so if you did a degree but didn't take out the loan, and then did a second one you can have the loan on that one

Your information is wrong:

If you do a degree, regardless of the funding, it's still counted.

See here for more information on the exceptions.

bundly

Thank you SO much for that Indie!

wileycat

Indie_Kid wrote: »

Your information is wrong:

If you do a degree, regardless of the funding, it's still counted.

See here for more information on the exceptions.

Nice to know thats the official line, I just know of several friends that have claimed for their funding on second degree's recently, even though they have existing ones (without previous funding).