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Student Loan Repayment - Plan 1 & Plan 2 correctly applied?
Aliki_2017
Posts: 1 Newbie
in Loans
Hi, I tried to find an answer to this issue looking at many websites and contacted both my university and student finance on many occasions but so far nothing has been done with this matter. I will try to explain my situation from the beginning.
I have started University BA degree on Sept 2011 ( on lower/old fees) and as the year went by I have realised I would like to change the course. I have been informed by both my finance department at Uni and student finance that if I finish my first year without dropping it, and transfer to desire department within the same university, I will stay on old fees (it was a transition year sept 2012 when fees went up). So this is what I did. I finish my first year and was transferred to different course within the same university and started from year one on old fees on Sept 2012. At this course I did 3 years and graduated in 2015. 6 months later I have received a latter from Student Loans Company with statement about my loan repayment....and this is the part that is really confusing. I have been calculated with both Plan 1 and Plan 2 even thought I started university on sept 2011 and till the end I was on old fees. On the statement PLAN 1 Tuition fees /Maintenance Loan is calculated from 19.09.2011 till 31.05.2013 and 1.50% interest fees all the way from 19.09.2011 till now. Plan 2 shows Tuition fees /Maintenance Loan from 17.09.2013 until 31.05.2015 and different rate of interest 6.30% / 5.50% / 3.90% all the way from 17.09.2013 till now.
I'm completely lost because those dates doesn't match to my courses and when I started studies. I've spoken several times with student finance itself - once I was informed that I should be on Plan 1 only, due to the fact that I started university in Sept 2011 and continue on old fees, other time I was informed that I should be on Plan 1 in years 2011-2012 on my first course, and then further 3 years on Plan 2. I have never received the revised statement but after today's phone call to Student Finance which again didn't resolve this issue I'm thinking of taking my case to financial Advisor.
Could anyone with better knowledge abut this matter advise what type on plan should I be on and how correctly I should be charged for those 4 years:
09.2011-05.2012 (1 year of course A)
09.2012-05.2015 (3 years of course
Old/Lower tuition Fees all the way 09.2011 - 05.2015
Thanks in advance,
Agnes
I have started University BA degree on Sept 2011 ( on lower/old fees) and as the year went by I have realised I would like to change the course. I have been informed by both my finance department at Uni and student finance that if I finish my first year without dropping it, and transfer to desire department within the same university, I will stay on old fees (it was a transition year sept 2012 when fees went up). So this is what I did. I finish my first year and was transferred to different course within the same university and started from year one on old fees on Sept 2012. At this course I did 3 years and graduated in 2015. 6 months later I have received a latter from Student Loans Company with statement about my loan repayment....and this is the part that is really confusing. I have been calculated with both Plan 1 and Plan 2 even thought I started university on sept 2011 and till the end I was on old fees. On the statement PLAN 1 Tuition fees /Maintenance Loan is calculated from 19.09.2011 till 31.05.2013 and 1.50% interest fees all the way from 19.09.2011 till now. Plan 2 shows Tuition fees /Maintenance Loan from 17.09.2013 until 31.05.2015 and different rate of interest 6.30% / 5.50% / 3.90% all the way from 17.09.2013 till now.
I'm completely lost because those dates doesn't match to my courses and when I started studies. I've spoken several times with student finance itself - once I was informed that I should be on Plan 1 only, due to the fact that I started university in Sept 2011 and continue on old fees, other time I was informed that I should be on Plan 1 in years 2011-2012 on my first course, and then further 3 years on Plan 2. I have never received the revised statement but after today's phone call to Student Finance which again didn't resolve this issue I'm thinking of taking my case to financial Advisor.
Could anyone with better knowledge abut this matter advise what type on plan should I be on and how correctly I should be charged for those 4 years:
09.2011-05.2012 (1 year of course A)
09.2012-05.2015 (3 years of course
Old/Lower tuition Fees all the way 09.2011 - 05.2015
Thanks in advance,
Agnes
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