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Student Bank Account Perks - Free Railcard
Santander offer a free 4 year railcard if you open up one of their student bank accounts. It states that the student account gives a definite £1,500 0% overdraft in years one to three, provided you pay in £500+ every four months. You can also claim a free four-year 16-25 Railcard (worth £100) If you don't pay in £500 a…
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Post grad loan or self-fund - will I gain on interest if I take the loan?
If I do a Master's, I can get a loan of £12,000. I'm looking at three courses, each costing £5,500, £7000 or £10,800 (I will pick one). I earn more than £21,000 but less than £27,000 a year, and will be studying part time. If I take the loan, will I gain more interest by putting the bit I don't need into a good savings…
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Is Martin Lewis still correct with not repaying student loans early in this situation?
I have a plan 1 loan that was quite big. Martin's advice has always been to not repay them because it's not like other debt, has "no real cost of borrowing", and gets written off eventually etc. The main point he makes is that there are better uses for your money, such as paying off other debts with higher interest rates…
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Checking overpaid student loan repayments
Hi, I am sure that I am due refunds for over paying student loan repayments in several years between 2002 and 2020. I have had an erratic working life sometimes in full time work, sometimes part-time, on benefits, in short contracted or agency work etc etc. I only found out through MSE that if your final overall annual…
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student loan refund 2002-2024
Hi, I am sure that I am due refunds for over paying student loan repayments in several years between 2002 and 2024. I have had an erratic working life sometimes in full time work, sometimes part-time, on benefits, in short contracted or agency work etc etc. It is a nightmare finding any tax records to verify what my…
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Postgrad loan repayment threshold query
Can anyone clarify for me; I know the threshold for repayment on a postgrad loan starts at earning over £21,000pa BUT what if I earned high one month (over £1750) but over the year my earnings were below £21,000, will I still expect to see a deduction in my payslip to SLC?
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Plan 1 Repayments and when its written off
I started my undergraduate degree in 2004 and ended in 2008. I therefore received student loan payments both before and after the '25 year write off' rule change that applied from 1 Sept 2006. I'm struggling to understand if all of my undergraduate loan payments are written off at the age of 65, or if the loan payments I…
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Student Maintenance Loan - Parents/Household Income
When working out the household income for calculating how much a student would be entitled to for a maintenance loan, is the income purely based on your gross salary? Or does the income include other incomes such as benefits that you may receive, savings accounts etc? Thanks
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student loan vs savings
Eldest about to go off to University in Scotland. Tuition fees will therefore be covered but he'll get no grant as we're above the threshold as we both work. So he could take out a maintenance loan of £6000 +£2400 per year. However, he has savings left by a grandparent currently earning about 5% (though I expect that will…
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Student Loan Repayments, Under threshold
Hi all, i wonder if you can all help me i cannot seem to get any advice off SFE or my work. so i am on band 2 of student loan which states i don't need to pay anything back if i don't earn over 27k or £524 a week. however when my company gets bonus or over payments from wage increase sometimes it works out that it pushes…
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Help/advice needed - do I overpay student finance
Hi there, I am on plan 2 (graduated 2017) and have paid off the debt down from 39k to 33k (including associated interest). I have a salary of around 80k and get an annual bonus that would allow me to pay off bigger chunks each year. I was wondering, given the interest on the loans is now higher than savings accounts and…
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Plan 1 finishing how does this effect post grad loan
Hi I’m about to finish my plan 1 UG student loan (finally!). I have been also paying my post grad loan since April 2022 (est finish paying off 2027). If my plan 1 is finished will my post grad payment go up? I was really looking forward to actually having the cash from paying my plan 1 forever!
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Student Loan query
So, I'm reaching the very end of my student loan payments (finally!). However, I'm incurring interest of almost 6.5%. I've managed to get an interest free credit card which would mean I can pay off the balance of my loan, halve my month payments and still pay it off in under the next 12 months incurring no additional…
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Student Loan Arrears Accrued
I recently moved abroad for work commitment, and the student loan company increased my repayment schedule since I moved. I called them to discuss that I cannot afford to pay the increased amount, and after assessing my situation we agreed to £80-100/month regularly without missing payment. They said you will have to pay…
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old style student loan problems
My daughter has defered for 23.5 years but this year is over the threshold..with 1.5 years to go. She's had a quote from Erudio which we simoly can not work out how it was arrived at. They are uncooperative and refer us back to Uk.Gov.UK , but they refer us back to Erudio ! The question is the original loan (the principle…
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Student Loan Overpayment
Hi! This is the discussion thread for the Student Loan Overpayment guide. Click reply below to discuss. If you haven’t already, join the forum to reply. Thanks folks,
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SLC not sure they want to pay out !? I think they are trying new tactics....
I Just got off the phone today with the SLC(0300 100 0628), as I had to reset my password details. I have finished paying off my Plan 1 loan since 1998! (YIPPIE...probably paid more in interest over the years than the loan itself) and they are refunding £71 after calling this number I also asked the lady about claiming…
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Student Loan Closing statement
I am due to pay off my student loan (plan 1 student), pre-top up fees. Last of that lucky generation. Is there a way to get some kind of closing statement stating how much I have repaid in total. Unfortunately I have not saved up all my payslips through the years, and I wouldn't fancy sitting down to tally it up anyway.
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SL over payment
Hey I'm pretty sure I'm due a refund for 2023/2024 tax year. I'm a bit confused though as I can't tell how it works. I earned £27,384 in the first 6 months and went travelling since so haven't earned anymore money. I paid £1,845 in SL repayment, an over payment by my calculations of £90. Where I'm confused is does SL…
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Mature Student Funding
Hi, I am looking for advice on how to fund?borrow for a 3 year diploma course as a mature student. It is not a uni degree and therefore I don't think I can get finance from student finance that way? Any ideas, or anyone done something similar? Many thanks