2nd degree with student loan

inacrisis

I have just completed my first degree which I self funded for and I am now looking at doing a 2nd degree in computer science and looking to get a student loan (Computer science is one of the 3 degrees you can get a loan for a second degree) Lots of people have been telling me to think hard about it cause all the rules have changed in regards to paying back. I am 32 years old and currently in a job with a salary of 26k From what I have read so far, my loan will be 15k in total over 6 years part time, In April 4 years after the start of the degree I will start to pay back at 9% of any earnings over 21k... After 30 years anything you owe still is wiped off. (Although I read somewhere there is a new law coming in that means you have to repay whatever you still owe when you retire)

Would be really appreciative if someone could clarify this for me

Thanks

Lokolo

You aren't entitled to student loan for most second degrees (inc. Comp Sci). So you won't be able to get it anyway.

You’ve studied before
You’ll usually get student finance only if you’re doing your first higher education qualification - even if your previous course was self-funded.

However, you may still get limited funding if, for example:

you change course
you leave your course but decide to start again
you’re ‘topping up’ a higher education qualification, eg you’ve finished an HNC, HND or Foundation Degree and now want to do an Honours degree
you hold an Honours degree or higher level of qualification and start a part-time Honours degree in engineering, technology or computer science (or a joint Honours in 2 of these subjects)

https://www.gov.uk/student-finance/who-qualifies

inacrisis

I have spoken to student finance England who have confirmed I can get a student loan for a 2nd degree in computer science as long as it's part time course

jackieblack

Lokolo wrote: »

You aren't entitled to student loan for most second degrees (inc. Comp Sci). So you won't be able to get it anyway.

:huh: Doesn't what you quoted (below) contradict that? :huh:

wrote:

You’ll usually get student finance only if you’re doing your first higher education qualification - even if your previous course was self-funded.
However, you may still get limited funding if, for example:

you change course
you leave your course but decide to start again
you’re ‘topping up’ a higher education qualification, eg you’ve finished an HNC, HND or Foundation Degree and now want to do an Honours degree
you hold an Honours degree or higher level of qualification and start a part-time Honours degree in engineering, technology or computer science (or a joint Honours in 2 of these subjects)

https://www.gov.uk/student-finance/who-qualifies

agrinnall

jackieblack wrote: »

:huh: Doesn't what you quoted (below) contradict that? :huh:

Well, it's only limited funding, and only if doing the CS degree part time (the OP hasn't said one way or the other). Quite why SFE are saying something that may be different is unclear, but I'd want it in writing before committing to anything.

Ed-1

agrinnall wrote: »

Well, it's only limited funding, and only if doing the CS degree part time (the OP hasn't said one way or the other). Quite why SFE are saying something that may be different is unclear, but I'd want it in writing before committing to anything.

You don't need it in writing as it's already in writing - SFE assess applications in accordance with the student support regulations which are crystal clear on it and were introduced in 2014. The Education (Student Support) (Amendment) 2014 regulations made the change:

http://www.legislation.gov.uk/uksi/2014/2765/regulation/17/made

Regulation 17 amends regulation 144 of the 2011 Regulations to insert a new paragraph (7) which provides that students who meet certain conditions qualify for support in respect of a part-time course when they would otherwise be prevented from doing so because the course leads to an equivalent or lower qualification. The conditions are that the student begins the course on or after 1st August 2015, that the course is in engineering, technology or computer science and that it leads to an honours degree qualification. Regulation 17 also makes similar amendments to regulation 144 of the 2011 Regulations as are made by regulations 6 and 7(a) of these Regulations.

Lokolo

jackieblack wrote: »

:huh: Doesn't what you quoted (below) contradict that? :huh:

Please note, I said MOST, not ALL and EVERYTHING. I also added the quote later on when I found the link (hence why my post says Last Edited).

The OP did not mention that his course was part time, and given that the majority of degrees are full time it was safe to assume it was going to be full time in his original post.

SeduLOUs

I think the bit about 'limited funding' is just about how loans work for part time students - you can only get tuition fee loans to cover the cost of the course, but not additional maintenance loans for living costs and whatever else. This is how it works for me (studying my first degree with the OU part time) and I guess it is down to the fact that as a part time student you would be expected to study alongside your usual stream of income rather than instead of it.

It appears that they are willing to support people to study new degrees in STEM subjects due to our own shortages in these areas, but they don't want to support people dropping out of work to do it on a full time basis.

Ed-1

SeduLOUs wrote: »

I think the bit about 'limited funding' is just about how loans work for part time students - you can only get tuition fee loans to cover the cost of the course, but not additional maintenance loans for living costs and whatever else. This is how it works for me (studying my first degree with the OU part time) and I guess it is down to the fact that as a part time student you would be expected to study alongside your usual stream of income rather than instead of it.

It appears that they are willing to support people to study new degrees in STEM subjects due to our own shortages in these areas, but they don't want to support people dropping out of work to do it on a full time basis.

Yes this is correct at the moment. However from 2018/19, part-time maintenance loans will be available and full-time tuition fee loans in STEM subjects.

jackieblack

Sorry, I don't want to be pedantic, but


1.

Lokolo wrote: »

Please note, I said MOST, not ALL and EVERYTHING. I also added the quote later on when I found the link (hence why my post says Last Edited).

Yes you did say most but you also said

Lokolo wrote: »

(inc. Comp Sci)

which does appear, to me at least, to contradict the text you quoted from SFE



2.

Lokolo wrote: »

The OP did not mention that his course was part time, and given that the majority of degrees are full time it was safe to assume it was going to be full time in his original post.

:huh: From OPs first post

inacrisis wrote: »

From what I have read so far, my loan will be 15k in total over 6 years part time,

SeduLOUs

Ed-1 wrote: »

Yes this is correct at the moment. However from 2018/19, part-time maintenance loans will be available and full-time tuition fee loans in STEM subjects.

Yes, that's my understanding too, but it's a couple of years off yet - it means I could potentially drop my hours to complete my final year without the pressure of a full time job though!