student loans-which scheme do you pay first?

studentannie

I completed my first undergraduate degree in 2007 (scheme 1) and I am currently paying back my student loan through paye. Next September I am going to start a teacher training course and will require another student loan (scheme 2) to cover tuition fees. When I eventually get a job does anyone know what happens to my repayments because I took out loans from both schemes? Will I pay the first loan I took out first or will I have to pay both at the same time?

Windofchange

I did very similar. Did a degree ending in 2001, and then studied again 2009 - 12. I had repaid my original student loan by the time I started my second degree, so not sure what use I can be.

I know that only certain vocations can qualify for a second loan - physio was one of them, and I assume that teaching might be included too? There is a list somewhere.

Assuming that you do qualify for the second student loan, you might want to check up on whether or not you can have two at once. When I started my degree I looked into this as I was worried about getting a loan etc, and think I remember reading that if you have an outstanding amount on your first loan, you are not eligible for a second one until this amount is paid off.

Will have a search around for you if I can.

Pixie5740

I had existing old mortgage style student loans when I went back to study in 2005 and had took out an income contingent student loan (sheme 1 I think). When I started working after I graduated I was paying back both types of loans simultaneously which was my own silly fault. I should have paid back my original loans instead of deferring but hindsight is a wonderful thing.