Help With Student Loans - HERE!

elisebutt65 · 23 March 2006 at 9:10PM

whitey1987 wrote:

I thought it would be better to post this here, rather than start a new topic...can anyone tell me when I should renew my student loan application, I will be entering my second year of Uni in September, but I'm not sure how to go about applying again for a student loan...any advice?

They contact you - or you can go and reapply online when it's up and running again - Is it May????

I always just wait for the paperwork to turn up - 4th year in FE now - lol. Did an HND and now a degree - Got my PGCE stuff to sort out next year -
Man, there is soooooo no way I can ever pay this all back and I've only got 20 more years to go before I can stop paying it anyway- RAFLMAO!!!

laurat · 25 March 2006 at 2:08PM

Hi slcworker - I wondered if you could help please? Here's the story...

I graduated in June 2004 so my student loan repayments commenced in April 2005 directly out of my wages. These continued until June 2005, when I stopped working and went travelling for a couple of months.

In October 2005 I started working again and am earning over the threshold, but my loan repayments haven't restarted. I have spoken to both my employer and the SLC, who are both at a loss as to why this is. I handed my P45 in to my new employer when I started and they say that they have done everything correctly at their end. And the SLC say that I am on their system as employed correctly.

Whilst it is rather nice delaying payment (!), I am very conscious of the interest mounting and really want to get this sorted, but no-one seems to want to help.

Do you have any ideas?

Thanks in advance :-)

citycastaways · 25 March 2006 at 5:50PM

hi SLC worker can you help me with this

Have just got back from an open day at plymouth uni they say that becouse the nhs pays the tuition fees for nursing degree and our houshold income is above 40,000 (even though the houshold outgoings are not much less than that) then my daughter will only be able to get 50% of the student maintenance loan amounting to approx£2170 even though the uni estimate it will cost approx £150 per week living exp and the course lasts 43 weeks = £6450 is this right and are there any more grants available from other sources any help would be appreciated

molar · 27 March 2006 at 8:23PM

mattsaze wrote:

Hi SLC

My friend has saved for years to start uni.

I suggested to her that instead of using her own money to pay fees etc, she take a loan (both tuition and maintenance) from SLC and put her savings into a high interest (5%) ISA or similar.

Question is - Do you know if her savings will accrue more interest than a Student Loan and thus be able to pay back the loan with her savings at the end of her course and cream off the extra earned interest for herself?

If so then this would be a good thread to start for others.

Thanks for speaking from the lions den! Matt.

Could she could make even more money by never repaying the loan?
Compare...
the amount of profit she can make by leaving the money in the savings account, keeping the student loan until it is repaid via minimum repayments
with...
the amount of profit she can make by investing the money creamed off after immediately repaying the loan plus the profit she can make by investing the money which she would have otherwise spent on the minimum loan repayment.

Plus is there a chance that she might never have to repay the loan? I know at the moment I only repay the monthly interest so at this rate its going to get written off :j

lidlest · 28 March 2006 at 5:52PM

Help please, I have an old style and a new style loan, I have been told I have to pay them both back at the same time (i earn over both thresholds) but that would mean paying them over £230 a month, thats a lot of money for a single mum. Is there anything I can do?

Sassy_Student · 29 March 2006 at 5:29PM

Hello SLC worker, (sorry to tag another question on to the unanswered ones!)

I'm starting a year in industry this year (Paid - YAYAYAYAY!) and i was wondering if there is any support avaliable. My Household income is well below all thresholds, and looking at the student loan form there is no where to put in MY earnings....

any idea?

cheers!

Chalky87 · 29 March 2006 at 7:05PM

elisebutt65 wrote:

They contact you - or you can go and reapply online when it's up and running again - Is it May????

I always just wait for the paperwork to turn up - 4th year in FE now - lol. Did an HND and now a degree - Got my PGCE stuff to sort out next year -
Man, there is soooooo no way I can ever pay this all back and I've only got 20 more years to go before I can stop paying it anyway- RAFLMAO!!!

Thanks for that!

pondie1 · 4 April 2006 at 9:11PM

i wonder if you could answer my question,i am looking at section11 in pn1 notes booklet(for my daughter starting uni sept 06)my husband is on invaliditybenefit,war pension,dla care,i recieve ctc and cb,do all these go on the form as income,as i am unsure of wording of b11,my husbands war pension nor ib count as income on ctc,(untaxable income) thanks

elisebutt65 · 5 April 2006 at 9:28AM

whitey1987 wrote:

I thought it would be better to post this here, rather than start a new topic...can anyone tell me when I should renew my student loan application, I will be entering my second year of Uni in September, but I'm not sure how to go about applying again for a student loan...any advice?

Just to let you know, I got my pack for renewing this morning and the online application be will be available from 19th April according to the website. Going to hang on for this as there is also a chance to win an Ipod - lol, and it's a lot easier this way as well.

elcapo · 5 April 2006 at 9:43AM

Hi there Student Loans Worker,

I wonder if you can help me out with this?? I have three loans from 97-98 to 00-01. In 2003 I went travelling for two years forgetting to defer my loans. I called SLC from Buenos Aires (a number of times) and then from Tokyo a few months later (a number of times) when I knew that they were sending me letters and making phone calls home.
When I called they told me that they would send me a deferral letter by fax to my places of work but they never arrived and I arrived back in London to find that I had £1500+ worth of arrears :mad: . When I came back I found that two of my loans had been transferred to Honours Student Loans and neither my family or I was aware of this. I tried to resolve this when I got back and have been paying them since July last year. However, I still don't feel that I should pay the arrears as even now I have failed to recieve letters from them stating that they have recieved the numerous phone calls I made when abroad and notification to rescind the charges. They will also not update their records and now I am having problems getting credit from other companies due their ineptitude. They are rude and are unwilling to believe that I was not running away from them - what can I do? Because I am NOT going to pay these charges. HELP!!!!!

Help With Student Loans - HERE!

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