Student Loan Debacle from 90s
amcg100
Posts: 277 Forumite
Hi
I am creating this thread because I would like to hear about anyone who was affected by the inability of the Student Loans Company to administer their business during the late 1990s and early 2000s.
It's 20 years ago, but I remember news reports about the Student Loans Company being in disarray during the turn of the century and since I am one of the people who was affected I would like to hear from others.
I am hoping eventually to instigate a claim for negligence against the current license holders whom I presume inherited the liabilities as well as the assets when they took over from the Student Loans company. Does anyone know if this is the case ? Is there any case history?
Clearly any legal action against them stands more chance of success if we stand together. I am particularly interested if anyone had problems getting their loan deferred.
Would love to hear from anyone who has a story to tell...........
I am creating this thread because I would like to hear about anyone who was affected by the inability of the Student Loans Company to administer their business during the late 1990s and early 2000s.
It's 20 years ago, but I remember news reports about the Student Loans Company being in disarray during the turn of the century and since I am one of the people who was affected I would like to hear from others.
I am hoping eventually to instigate a claim for negligence against the current license holders whom I presume inherited the liabilities as well as the assets when they took over from the Student Loans company. Does anyone know if this is the case ? Is there any case history?
Clearly any legal action against them stands more chance of success if we stand together. I am particularly interested if anyone had problems getting their loan deferred.
Would love to hear from anyone who has a story to tell...........
If a man does not keep pace with his companions, then perhaps it is because he hears a different drummer. Let him step to the music he hears, however measured or far away. thoreau
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Comments
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You want to sue a company for being in disarray? That’s not really how things work. What loss have you suffered, and how?0
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John_G_Jones wrote: »You want to sue a company for being in disarray? That’s not really how things work. What loss have you suffered, and how?
No, I am not going to sue them for being in disarray, as my post says I am going to sue them for negligence which is a legal term within Law of Torts.
You are clearly just an antagonist, so please do not post on my thread again unless you have something constructive to say.
ThanksIf a man does not keep pace with his companions, then perhaps it is because he hears a different drummer. Let him step to the music he hears, however measured or far away. thoreau0 -
If you sue them for negligence, you would still have to show you suffered a loss.
I'm also not sure a new company inherits the failings of a previous one.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 -
Yes, I can show losses, not a problem, but there must be a lot of people who had similar problems back then ..........If you sue them for negligence, you would still have to show you suffered a loss.
I'm also not sure a new company inherits the failings of a previous one.If a man does not keep pace with his companions, then perhaps it is because he hears a different drummer. Let him step to the music he hears, however measured or far away. thoreau0 -
You might run into problems with this under the statute of limitations. It's 6 years for contract law I'm afraid, tort is 3 years so I suspect you're timed out.
I had a student loan from 1995-1998, and another from 2002-2005 and they were completely useless. They didn't change my address for the first loan so were constantly sending out deferment papers to an old address, even though they knew where I was as I had a loan from 2002. I'd call them to let them know I hadn't received it, using my current address as a way to verify my identity but they still sent the form to my old address. It became farcical. I did finally manage to speak to someone fairly competent and they admitted that they had 2 computer systems which weren't connected, they had the right details on one but it didn't automatically update the other one. I had to pay some arrears, which was difficult at the time as I was a single mum.0 -
Don't forget to take into account that, up to 2009 (and some up to 2006), student finance was administered by the student's local authority. The Student Loans Company paid out the money as per info entered by the local councils and dealt with repayments.
I used to be Starrystarrynight on MSE, before a log in technical glitch!0 -
Starrystarrynight1 wrote: »Don't forget to take into account that, up to 2009 (and some up to 2006), student finance was administered by the student's local authority. The Student Loans Company paid out the money as per info entered by the local councils and dealt with repayments.
Wasn't it a mix of bursaries arranged by the local councils and student loans, which were sorted via the SLC?? I remember filling in a form for the SLC and receiving a separate bursary cheque from my local education authority. The bursary wasn't repayable, the SLC sent deferment papers/letters about the student loan only.0 -
Regarding the statute of limitations issue........CakeCrusader wrote: »You might run into problems with this under the statute of limitations. It's 6 years for contract law I'm afraid, tort is 3 years so I suspect you're timed out.
I had a student loan from 1995-1998, and another from 2002-2005 and they were completely useless. They didn't change my address for the first loan so were constantly sending out deferment papers to an old address, even though they knew where I was as I had a loan from 2002. I'd call them to let them know I hadn't received it, using my current address as a way to verify my identity but they still sent the form to my old address. It became farcical. I did finally manage to speak to someone fairly competent and they admitted that they had 2 computer systems which weren't connected, they had the right details on one but it didn't automatically update the other one. I had to pay some arrears, which was difficult at the time as I was a single mum.
They wrote to me yesterday and are therefore still liable under tort
alexIf a man does not keep pace with his companions, then perhaps it is because he hears a different drummer. Let him step to the music he hears, however measured or far away. thoreau0 -
Regarding the statute of limitations issue........
They wrote to me yesterday and are therefore still liable under tort
alex
The limit on tort is 6 years from the date of the injury/damage. Them writing to you is irrelevant. It can be extended to 15 years if you didn’t have knowledge at the time, but obviously that has expired as well.0 -
I understand, but if they write me a threatening letter which causes me distress, then the ' Tortuous activity ' occurred at the time of the letter being written.The limit on tort is 6 years from the date of the injury/damage. Them writing to you is irrelevant. It can be extended to 15 years if you didn’t have knowledge at the time, but obviously that has expired as well.If a man does not keep pace with his companions, then perhaps it is because he hears a different drummer. Let him step to the music he hears, however measured or far away. thoreau0
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