Help With Student Loans - HERE!
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daughter spoke to them today and they have just said it is being processed. However this has been going on for so long now, I honestly can’t see when it’s going to end. Can I speak to the company on my daughters behalf? Or is it out of my hands because she’s an adult?0
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They will have a complaints process: you can find out what it is and get your DD started on it. Student Union - maybe the welfare office? - might also help with that. Also, once you've put the complaint in, consider involving your MP.
When I worked at a university, she would not have been allowed to take her exams before her fees had been paid. That's an untenable situation.Signature removed for peace of mind0 -
JANE32, your daughter can contact student finance and ask to set you up as someone who can call on your behalf. I think they will need a few personal details and you might need to select a password. At least that way you can speak to them, though I don't think you will be allowed to do things like make changes.
I used to be Starrystarrynight on MSE, before a log in technical glitch!0 -
Hello! I saw Martin speak on this morning about claiming back overpayments. I've just come back off maternity leave. I earned 20000 whilst off and paid 800 student loan. from my calculations I've overpaid 555. I rang up yesterday and he said I can't get anything back as they don't work it out annually they do it monthly or weekly. I tried to argue my case but he just said no! Have I got anything else I can do here? He said that it's rare for anyone on maternity to get anything back as on the months they get paid they pay 2% over the threshold on that. it's not 2% over the annual threshold. Thanks in advance! Holly x0
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Hello,
My son started Uni. a couple of years ago but didn't finish his first term.
The next year he started a new course at a different Uni. and is now waiting to go into his second year.
Student Finance are insisting he pays back the Maintenance Loan and Tuition fees for the first year that he didn't finish. He explained he is still a student, but they said he still has to repay the first term's loans. So, he's paying them £10 a month.
We've just had a statement where he's paying two lots of interest.
One at 3.1% and the other at 6.1%
Both of the amounts are greater than the £10 amount he's repaying.
(The last monthly interest amount was £38.78)
These interest payments are crazy! (Aren't they? Or is it just me?)
Can anyone tell me if it's correct that he has to be repaying now, even though he's still a student?0 -
Hello,
My son started Uni. a couple of years ago but didn't finish his first term.
The next year he started a new course at a different Uni. and is now waiting to go into his second year.
Student Finance are insisting he pays back the Maintenance Loan and Tuition fees for the first year that he didn't finish. He explained he is still a student, but they said he still has to repay the first term's loans. So, he's paying them £10 a month.
We've just had a statement where he's paying two lots of interest.
One at 3.1% and the other at 6.1%
Both of the amounts are greater than the £10 amount he's repaying.
(The last monthly interest amount was £38.78)
These interest payments are crazy! (Aren't they? Or is it just me?)
Can anyone tell me if it's correct that he has to be repaying now, even though he's still a student?
Yes, it's correct as he's only eligible for a fraction of the first year's amount for the time he was on the course. When SFE were notified he'd left that course, they recalculated his entitlement. Anything received that he wasn't entitled to is repayable immediately (negotiated by a payment plan). The amount he was entitled to is then repayable from the following April through 9% of salary above the relevant repayment threshold (currently £25,000 for plan 2 loans). When a loan enters repayment status (and the 30 year write-off period starts), the interest rate drops from RPI+3% to RPI - RPI+3% depending on his salary, but only for that course's loan. Any loans taken out for further courses are treated separately.0 -
Hello,
My son started Uni. a couple of years ago but didn't finish his first term.
The next year he started a new course at a different Uni. and is now waiting to go into his second year.
Student Finance are insisting he pays back the Maintenance Loan and Tuition fees for the first year that he didn't finish. He explained he is still a student, but they said he still has to repay the first term's loans. So, he's paying them £10 a month.
We've just had a statement where he's paying two lots of interest.
One at 3.1% and the other at 6.1%
Both of the amounts are greater than the £10 amount he's repaying.
(The last monthly interest amount was £38.78)
These interest payments are crazy! (Aren't they? Or is it just me?)
Can anyone tell me if it's correct that he has to be repaying now, even though he's still a student?
While he is a student the interest rates will be high. The £10 he is paying is from an agreed plan to repay an overpayment, it is not a student loan repayment. Student loan repayments only occur after a course has finished and when the (ex-) student is earning.
Looking back with a crystal ball, he should have agreed a course withdrawal date that would have allowed all the student loan he had received to be allowed and avoid this partial repayment.I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
My son is thinking about a postgraduate course but needs some advice about loans. He's been entitled to ESA for a year but the payments have only just started due to his student loan payments. He's in the support group for ESA and also receives low rate DLA both care and mobility. When he was doing his degree he received £7898 a year which was made up of a maintenance loan and a grant.
The fees for the postgrad course are £6950 which is payable from a loan of £10,609. Does anyone know if there are any grants available for this type of course, or if he would receive either all or some of his ESA? Thanks for any help.0 -
Thank you Ed-1 & silvercar.
He only received payments for the first term, but with these interest rates, it's amounting to quite a debt already.
What a start for a young person...
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Thank you Ed-1 & silvercar.
He only received payments for the first term, but with these interest rates, it's amounting to quite a debt already.
What a start for a young person...
The balance (including interest) is only the maximum he owes though. The majority will pay far far below that. He only owes 9% of his salary above the threshold for up to 30 years. Anything extra is paid by taxpayers after 30 years. So the higher the balance the bigger the grant in effect.0
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