Student finance/ student loans interest

Pixie5740

Why would you need the media to tell you what was in the documents that you had in front of you to read with your own eyes? That doesn't make sense. Nor does the fact that you were 17 excuse you as you must have been literate or you wouldn't have been going to university.

You have the luxury of not having to make repayments unless you earn over a certain threshold and if you don't pay the loans off by the time you are 65 the outstanding balance will be written off.

You weren't mis-sold the student loans if that is what you are trying to get at.

Lungboy

If you were 17 when you signed the loan contract then that might be an issue.

ericctheking

I think you'll find as soon of these loans are sold off to private companies (the plan) then he will have been miss-sold the loan as he was 17 at the time and according to the consumer credit act loans can not be promoted and sold to minors with a view to a financial gain. As the private debt companies the loans will be sold to have a clear view to a financial gain the law will have been broken. ie. miss-sold loan and he shouldn't have to pay!

cbaz

I admitted my own ignorance, I know they weren't mis-sold to us.

It was just a question I was thinking about based on conversations with others who had been to uni at the same time and had similar recollections.

ericctheking

Just wait until the private debt collecting vultures have your loans and start messing you around! When you think about it selling off student loans is illegal because of the consumer credit act prohibiting the promotion of loans to minors so even people who signed the loans at 18 were being indoctrinated into taking them at sixth forms throughout the country.
cbaz your nice safe government loan is about to be sold off to a shell company with dubious collection practices!

Pixie5740

eric have you been at the wacky backy again?

ericctheking

Does the consumer credit act prohibit the promotion of loans to minors for financial gain or not? I think it does.

CLAPTON

cbaz wrote: »

I admitted my own ignorance, I know they weren't mis-sold to us.

It was just a question I was thinking about based on conversations with others who had been to uni at the same time and had similar recollections.

you seem to have amazingly clear conversations with people 16 year ago
but a total lack of recall about literately thousands of newspaper articles on the subject

there was plenty of articles at that time

and NO I wasn't a rich parent and I clearly remember the numerous discussions with my own children


You can always pay the debts off and avoid the interest.

cbaz

This was based on recent conversations with people who had similar misconceptions.
It is what it is, I owe the money it'll be paid back.

denby1966

I am British but live and work in Portugal. My son attended school in the UK from aged 10 to 18 before joining me in Portugal in July 2015. Portugal is now his permanent home. He will go to Swansea University in September to study BSC. I understand EU students can qualify for the tuition fee grant of almost £5700 to study in wales but do not qualify for maintenance or accommodation grants. Can my son apply as a European Student and benefit from the Welsh grant. (this is probably posted wrongly and in the wrong place but after three hours I am just guessing how to make sense of it).