Postgraduate loans 2016/2017 starters

edited 18 March 2016 at 4:48PM in Student Money Saving
90 replies 46.5K views
1234689

Replies

  • Good Morning,

    with the RPI inflation rate set to rise sharply in the coming months and years (BBC News 2/11/2016: Inflation Set to Soar to 4% by Late 2017) are we likely to see postgraduate student loans interest being charged at 7% + ?

    Thanks,
    Adrian
  • Ed-1Ed-1 Forumite
    3.5K Posts
    Eighth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    4dr10 wrote: »
    Good Morning,

    with the RPI inflation rate set to rise sharply in the coming months and years (BBC News 2/11/2016: Inflation Set to Soar to 4% by Late 2017) are we likely to see postgraduate student loans interest being charged at 7% + ?

    Thanks,
    Adrian

    Clearly, as interest on postgraduate loans is RPI+3%.
  • Hi, have a couple of questions re the Postgrad Loan which I hope someone can help with. I've been out of academia for a while - since the mid 1990s when I graduated - and have always wanted to get my MA and Phd but not been able to afford it but now with this loan I may be able to but i have some questions:

    1) I had the original 'mortgage' style loan pre-1998 and deferred it for a while but after a while I was not contacted by the loans company and it dropped off the radar. Probably about 2k is left to pay. Is this amount still payable? Or is it written off - I'm 52 and it was 25 years ago.

    2) Given the above - will they still give me the Postgrad loan? Or does it exclude me?

    3) Is the Postgrad loan assessed as any other loan is? Can they reject your application for example?

    Many thanks
  • BeckyAPBeckyAP Forumite
    50 Posts
    30% of the PGL will be taken into account as income when assessing any means tested benefit.
    If you are studying full time in 16/17 then £3,000 is taken into account as income.
    If you are studying full time in 17/18 then £3,084 is taken into account as income.

    Even if you chose to borrow less than the full £10k or even chose not to take the loan, if the DWP establish you are eligible for the money they will take it into account as income.
  • How does doing a master's affect any council tax payments please ?
  • It says in the eligibility that you can't apply if you already have a Masters degree.
    If your degree was done through the bank years ago...and you didn't state you had a Masters on the new application... how would they know you do? Is there some sort of system that would state you have a Masters degree already??
  • SportyFlex wrote: »
    It says in the eligibility that you can't apply if you already have a Masters degree.
    If your degree was done through the bank years ago...and you didn't state you had a Masters on the new application... how would they know you do? Is there some sort of system that would state you have a Masters degree already??

    That would be fraud :T
  • Ed-1Ed-1 Forumite
    3.5K Posts
    Eighth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    SportyFlex wrote: »
    It says in the eligibility that you can't apply if you already have a Masters degree.
    If your degree was done through the bank years ago...and you didn't state you had a Masters on the new application... how would they know you do? Is there some sort of system that would state you have a Masters degree already??

    Your student record is logged with HESA every time you register on a course at a UK university. They could decide to check HESA if they had any concerns.
  • How does doing a master's affect any council tax payments please ?

    if full time you don't pay council tax
  • Hi,

    I'm having a real issue with funding for my Masters degree that I'm wanting to start January next year.

    I'm working full time and wanted to do the part time distance learning of the degree, which you have between 2-8 years to complete.

    I wasn't aware that I cannot get student finance for my Masters of the £10,000 unless I complete the degree within 2 years because the full-time equivalent of the course is to be completed within 1 year so student finance request that the part-time version is completed in no more than double the full-time version! :(

    I won't be able to do 25 hours per week and work full time. Has anyone at all got any other ideas of funding that I could apply for or how to do this?

    My course is £12,000!

    Thanks,

    Laura
Sign In or Register to comment.
Latest MSE News and Guides

Virgin Media & O2 launch Volt

Aims to boost mobile data & broadband speeds

MSE News

Cheap pet insurance

Top comparisons & hot deals

MSE Guides