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    • Olaf01234
    • By Olaf01234 16th Apr 19, 7:40 PM
    • 1 Posts
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    Olaf01234
    Help
    Student finance counter fraud asked me for 3 months bank statements, childcare payments From January last year and tax credit letters (which I do not receive) I have willingly sent all information requested, and now they wish to telephone interview me! I have no idea why and do not believe I have filled out anything wrong can anyone please advise why this is? All my payments have subsequently been blocked? I HAVE recieved an overpayment by student finance that I am paying back so I am at a total loss as to why this is happening - can anyone advise - I am really worried!
    • LilyBirkett
    • By LilyBirkett 26th Apr 19, 9:28 AM
    • 1 Posts
    • 0 Thanks
    LilyBirkett
    Hey,

    I understand that unless you are early a good salary it is not worth paying back your undergraduate loan. But what about your masters loan? It comes out of a separate pot apparently...
    • Lotak
    • By Lotak 29th Apr 19, 12:14 PM
    • 84 Posts
    • 58 Thanks
    Lotak
    Hey,

    I understand that unless you are early a good salary it is not worth paying back your undergraduate loan. But what about your masters loan? It comes out of a separate pot apparently...
    Originally posted by LilyBirkett
    Generally, any income contingent loan should not be repaid early, unless you earn enough to know you're certain to repay it. Then, it's a case of whether or not you want to overpay or use that excess money for (say) a deposit for a house / emergency savings.

    If the repayment of the Master's loan is income contingent, then it follows the same as the undergrad loan.
    If the repayment is like a standard loan (i.e. you have to pay it back, monthly, whether you like it or not), then consider the interest rate. If it's an expensive rate, overpay, otherwise don't.

    You may want to consider a Balance Transfer, but that will have an impact on your credit file, so is only recommended if (and only if) you will repay in the timescale and you aren't looking to borrow more in the near future.
    Current Debt (excluding mortgage) - £10.6k
    Reducing £500 / month.
    • AuburnMid
    • By AuburnMid 8th May 19, 7:51 AM
    • 6 Posts
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    AuburnMid
    Hi

    I had a loan with my first degree in 1999-2001 (when they first came in following Grants; I had a grant for my first year undergraduate). This has been slowly ticking over and being paid off.

    Fast forward to 2009 and I started a second degree and had a further student loan.

    I've noticed some info on the MSE pages about repayment timing following loans.

    I qualified in August 2012 and started working in the last week of October 2012 (NHS), first salary payment in December 2012. Having checked my old payslips I can see student loan payments were commenced immediately. The amount has always stayed about the same so I can only assume it was for the entire amount owed and not just the 1999-2001 loan.

    Question is, am I eligible for repayment? Is this an overpayment?

    Thanks
    • Ed-1
    • By Ed-1 8th May 19, 9:04 AM
    • 2,577 Posts
    • 1,376 Thanks
    Ed-1
    Hi

    I had a loan with my first degree in 1999-2001 (when they first came in following Grants; I had a grant for my first year undergraduate). This has been slowly ticking over and being paid off.

    Fast forward to 2009 and I started a second degree and had a further student loan.

    I've noticed some info on the MSE pages about repayment timing following loans.

    I qualified in August 2012 and started working in the last week of October 2012 (NHS), first salary payment in December 2012. Having checked my old payslips I can see student loan payments were commenced immediately. The amount has always stayed about the same so I can only assume it was for the entire amount owed and not just the 1999-2001 loan.

    Question is, am I eligible for repayment? Is this an overpayment?

    Thanks
    Originally posted by AuburnMid
    First of all both loans are plan 1 (pre-2012) loans. So repayment is due at 9% of income over £18,935 on both. The loans for the first course entered repayment in April 2002. If you paid anything before then then you will be eligible for a refund of these. Any outstanding balance on these loans is wiped at age 65 (as they were taken out for a course starting prior to 2006).

    For the loans for the second course, this part of the balance entered repayment in April 2013. Any outstanding balance on these loans is written off 25 years from April 2013. If you still had an outstanding balance on your earlier loans then repayment will have been made for those and no refund is due.

    As repayments for both loans are merged into a single repayment of 9% over the plan 1 repayment threshold, the only difference the second loans entering repayment makes is that some of the repayment is paying off those loans in proportion to the outstanding balance. E.g. if the loans from the first course have an outstanding balance of £3,000 and the loans for the second course have an outstanding balance of £17,000 then 3/20 of the repayment goes towards the first loans and 17/20 goes towards the second loans.
    Last edited by Ed-1; 08-05-2019 at 9:06 AM.
    • GaenorA
    • By GaenorA 13th May 19, 3:03 PM
    • 5 Posts
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    GaenorA
    My daughter has just completed 3 years at university - she was originally funded for a 4 year honors course but has decided to specialize in one of her fields and so has now been accepted on another course at a conservatoire. Originally she was at uni in Scotland and fees were paid as she is Scottish born, now she will be attending college in Wales and so we have to find funding. She has written to loads of charities, applied for bursaries and scholarships..... but not much success so far. We want to help her to support her passion for her future career but cannot afford to pay her fees as well as her living costs, especially as we will be having a second child attending uni next year. Anyone got any ideas for funding, bursaries that will pay out, charities that will support future classical musicians, student loan advice??????
    • GaenorA
    • By GaenorA 13th May 19, 3:11 PM
    • 5 Posts
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    GaenorA
    Any help gratefully received! Daughter finished 3 years of her MA (ordinary) in Scotland but want to specialize in music rather than stay an extra year to get her honors degree, was originally funded for 4 years by student loan company. Fees were covered as Scottish born attending Scottish university. Now transferring to music conservatoire in Wales, fees not covered and so we need to find tuition fee money as well as all the other costs. Was told she could still apply for maintenance loan to cover living expenses - we are paying her rent. Is there any way to apply for help with tuition fees? We want to help all we can but are not able to fund this especially as we have another child due to go to university next year. Both of them will have graduated from the American school system where all of their friends and peers are able to get lots of scholarships to help with college, and despite being amongst the top students in their year they are unable to get scholarships that everyone else gets because they are British - sometimes being a military kid sucks. Any help gratefully received - she is spending hours daily applying for bursaries and has been doing so for weeks, but so far no luck
    • silvercar
    • By silvercar 13th May 19, 3:41 PM
    • 39,021 Posts
    • 162,626 Thanks
    silvercar
    GaenorA, would she be eligible for a student loan for the tuition fees?

    This link here seems to suggest that she could receive a loan upto £9250 for fees, in addition to maintenance loan.
    • sheramber
    • By sheramber 13th May 19, 6:03 PM
    • 6,415 Posts
    • 4,827 Thanks
    sheramber
    Did they explain why she could not get tuition fee support? Is it because the course is available in Scotland?
    • GaenorA
    • By GaenorA 13th May 19, 9:17 PM
    • 5 Posts
    • 0 Thanks
    GaenorA
    I think it is because it is her second degree - she could not apply for this degree from the start as she was not a high enough standard - the subject was not taught in school here in Florida. After 3 years back home in the UK her standard of music playing and knowledge made her eligible to apply to a specialist music college and she auditioned and was accepted - we just need to fund it now!
    • GaenorA
    • By GaenorA 13th May 19, 9:19 PM
    • 5 Posts
    • 0 Thanks
    GaenorA
    How did you manage to get another loan for tuition fees for your second degree? We are in the same situation and have hit a brick wall
    • GaenorA
    • By GaenorA 13th May 19, 9:20 PM
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    GaenorA
    Can i ask how you managed to apply and receive a second student loan please - it could be that things have changed since you received yours, but we are trying to get funding for a second degree
    • silvercar
    • By silvercar 14th May 19, 7:54 AM
    • 39,021 Posts
    • 162,626 Thanks
    silvercar
    Can i ask how you managed to apply and receive a second student loan please - it could be that things have changed since you received yours, but we are trying to get funding for a second degree
    Originally posted by GaenorA
    The general rule is that if you have funding for the first course at each level. So if you have had funding for say a BTEC course, you can then get funding for a BA/ BSc.

    If she has a first degree and this would lead to an honours degree, there may be funding. If so, she would just apply in the normal way and as this course is outside Scotland, a tuition fee loan should be available.

    If the student loans company decided that she counted as dropping out of her first course then there should be funding based on the initial number of years plus one. So a course that lasted 4 years, less the 3 already funded, plus 1 = 2 years more funding. Though of course this means then accepting that she dropped out rather than completed a lower qualification earlier.

    My gut reaction is that somewhere in the system they need to identify that she is now out of Scotland, so needs the tuition fee loan as well as maintenance, rather than any funding decision making process. But I may be wrong.
    Last edited by silvercar; 14-05-2019 at 8:01 AM.
    • sheramber
    • By sheramber 14th May 19, 11:09 AM
    • 6,415 Posts
    • 4,827 Thanks
    sheramber
    is the welsh course for the same subject as her first degree?

    https://www.saas.gov.uk/_forms/previous_study.pdf

    Honours year concession
    Most students who are on a degree programme will graduate with a 4 year (or 3 year if
    they studied in England, Wales or Northern Ireland) honours degree. However, there will
    be some instances where you choose to graduate after 3 years with an ordinary degree.
    You are still eligible to apply for full support for an honours year providing:
    3
    the honours year is in the same subject as the ordinary degree (you can do this at
    a different university from where you did your ordinary degree);

     you have not already received funding for an honours year.

    There suggestions for alternative sources of funding here

    https://www.thescholarshiphub.org.uk/blog/how-get-funding-second-degree-uk
    • timfnash
    • By timfnash 15th May 19, 1:23 AM
    • 1 Posts
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    timfnash
    MSE's chart suggests that with a starting salary of £30k rising to £120k in 30 years only £50k will ever be repaid. It looks to me like an initial loan of £60k would be paid back double, which could easily be the final "debt" after interest accrues.

    Roughly speaking £30k is £5k above threshold, so £1800 will need to be paid each year. £120k is 95K above the threshold, so £8550 will need to be paid each year. That results in repayments of over £120k over 30 years.

    Am I missing something? We are trying to decide whether to take a Student Loan for our son or look to try to raise funds another way to cover the cost of 6 years of medical training.
    • silvercar
    • By silvercar 15th May 19, 8:08 AM
    • 39,021 Posts
    • 162,626 Thanks
    silvercar
    MSE's chart suggests that with a starting salary of £30k rising to £120k in 30 years only £50k will ever be repaid. It looks to me like an initial loan of £60k would be paid back double, which could easily be the final "debt" after interest accrues.

    Roughly speaking £30k is £5k above threshold, so £1800 will need to be paid each year. £120k is 95K above the threshold, so £8550 will need to be paid each year. That results in repayments of over £120k over 30 years.

    Am I missing something? We are trying to decide whether to take a Student Loan for our son or look to try to raise funds another way to cover the cost of 6 years of medical training.
    Originally posted by timfnash
    Apart from the crystal ball on who knows what the government will demand in repayments in 30 years time:

    Your son could be earning a lot more than £120k in 30 years time. There only needs to be a period of high inflation and salaries will increase massively. If your son ends up becoming a private doctor his income could be large.
    • spanner74
    • By spanner74 17th May 19, 9:03 AM
    • 1 Posts
    • 0 Thanks
    spanner74
    I have a pre-1998 loan and have been deferring as I've been working part time and under the threshold. I am going full time which will tip me over (just) the threshold for repayment (irritatingly, I was due to have them written off in 2020) but I cannot find a calculator to work out how much this will be per month! Is it a fixed fee, a percentage, a fixed term??? Do I pay until the write off date? Do I have till then to pay off in full? So many questions...Please help!
    • Sharkey71
    • By Sharkey71 18th May 19, 2:46 PM
    • 1 Posts
    • 0 Thanks
    Sharkey71
    Sharkey71
    @NHSBSA With the focus on mental health and suicides amongst struggling students. Why is NHS bursary department selling their own errors of overpayments they themselves made in student bursaries as debts to debt recovery agents? Is there financial incentives or is it more about removing such errors from their annual inspection reports? Students will begin life as social workers or nurses will now be in even more severe debt because of their shocking policies and incompetence.

    I have been corresponding for a former student who was within their staged complaints procedures and was suddenly informed they have sold her account as a debt to a recovery agency. This student received a bursary and all correspondence addressed it as her bursary yet some months later she was informed it was not a bursary it was an error and classed as an overpayment of travel allowances. They conveniently stated that correspondence was lost in their Junk mail and they had continued to post mail to a previous student home. Has anyone else had such dealings as the lady I have been representing was wanting to pay NHS business 25 a month but has been informed it has now been sold to a debt recovery agency who will set the payment or risk damage to credit history.

    I just find this lack of transparency and bullying of young student nurses or social workers extremely concerning. Has anyone else challenged such structural bullying and how did they get on? I am hearing from some students who walked away from the field and some struggled with mental health through the stress of some of these agencies
    • sheramber
    • By sheramber 18th May 19, 6:42 PM
    • 6,415 Posts
    • 4,827 Thanks
    sheramber
    Is ti connected to this scenario?

    https://www.ombudsman.org.uk/about-us/how-our-casework-makes-difference/case-summaries/715
    • studentnc1
    • By studentnc1 19th May 19, 1:44 PM
    • 1 Posts
    • 0 Thanks
    studentnc1
    living at home
    Hey, i have alot of Knowledge of how the student loans procedure works. If anyone needs any help, i can advise as much general info.
    Obviously i cant divulge into specifics due to Data Protection and the fact that i'd get fired, but anything i can help with, just let me know.
    Originally posted by slcworker
    Hi,
    Iím going to be living at home for university in September when I go back into third year, my parents struggle financially and I am required to make contributions for the house even when at uni. This means that next year they are going to be charging me the same rent as I paid to landlords when I lived out in first and second year. I pay for everything myself like I would if I was living out and living at home will probably cost more than living out. with all the contributions. I know that you get more student finance for living out, would I be able to apply for the higher rate as if I was living out?
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