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    • silvercar
    • By silvercar 5th Mar 19, 4:05 PM
    • 38,765 Posts
    • 162,037 Thanks
    silvercar
    Hi, I started univeristy in September 2016, but withdrew halfway through the year leaving me with a loan of £4500. As of today this has risen with interest to £5060.80.

    I want to know, as it is such a low amount, am I better off paying it off in full immediately to avoid interest, or paying it off as per the usual method over a number of years (I'm guessing as it's so small I will end up paying it all off anyway!).

    What would you recommend?
    Originally posted by BGLP2018
    If you think you will pay it all back then it makes sense to clear it early if you can. However, if you think you will go back to university at any time in the future then you shouldnt pay it off as your second stab at uni will mean you will eventually be paying 9% of salary whether you clear the current loan or not.
    • silvercar
    • By silvercar 5th Mar 19, 4:06 PM
    • 38,765 Posts
    • 162,037 Thanks
    silvercar
    Some help would be hugely appreciated.

    I finished university in June 2018 and so my repayments are due to start in April 2019.

    Iím currently travelling around South East Asia, and have been since October 2018 and did not inform SLC (my bad, but I didnít know I had to) and now Iím reading horror stories about non compliance and other penalties.

    I have not been working whilst travelling anywhere, and have funded this trip with my own savings from previous employment along with some money from my parents.

    I am only just realising I have messed up as my Mum text me to say she has received a letter from Student Finance saying they do not have my current details.

    I am currently in Vietnam, but in April next month I will be heading to Australia on a working holiday visa (Iím not ready to come home yet).

    Please can somebody advise me on how to proceed with this?

    Thank you!
    Originally posted by dannyfitz1995
    Get in touch with slc and explain.
    • silvercar
    • By silvercar 5th Mar 19, 4:08 PM
    • 38,765 Posts
    • 162,037 Thanks
    silvercar
    As you offered!
    Could you please help and would be very grateful.
    My daughter has been offered a place at Laine Dance and Theatre college and we are applying for a DaDA, as itís a diploma course and she is 18 yrs old.
    Although I live with my partner, we are not married and he is not Dad.
    He has never paid for my children and we have a rental property (which used to be my home) and I get to keep the rent after paying mortgage, about £500, which on top of my part time job pays for my kids.
    On the form it states household income and reluctant to add him, as his salary is high and seems unfair.
    What do I have to do and happy to provide bank statements to support info.
    Thanks
    Originally posted by JoJane
    You have to include him, not to do so would be fraud. He is part of your household and the rules mean his income is taken into account.

    The only other option would be for your daughter to go and live with her dad and apply for student finance from his house.
    • uk-to-uae
    • By uk-to-uae 7th Mar 19, 11:02 AM
    • 4 Posts
    • 0 Thanks
    uk-to-uae
    Plan 1 sell-off: discount for early payment?
    Hi. I have a Plan 1 student loan that was sold by the government in the last sell-off. I was wondering if they are offering discounts for early payment (as the previous company did)? I haven't managed to find any details and seems as though we're not supposed to contact them directly. But can we discuss this with SLC? Thanks in advance.
    • Ed-1
    • By Ed-1 7th Mar 19, 1:06 PM
    • 2,519 Posts
    • 1,317 Thanks
    Ed-1
    Hi. I have a Plan 1 student loan that was sold by the government in the last sell-off. I was wondering if they are offering discounts for early payment (as the previous company did)? I haven't managed to find any details and seems as though we're not supposed to contact them directly. But can we discuss this with SLC? Thanks in advance.
    Originally posted by uk-to-uae
    No it's not possible as the purchaser do not own the loans, just a right to the repayments.
    • Saztoes
    • By Saztoes 8th Mar 19, 11:23 PM
    • 1 Posts
    • 0 Thanks
    Saztoes
    Loans to study on Universal Credit
    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.
    Im 36 years old and i've just handed in my notice following maternity leave and will be going on to universal credit while I care for my son. Im hoping to complete a 1 year level 4 diploma at a Montessori training centre. Is there any financial assistance, student loan or otherwise that you know of that I can apply for?
    Thanks
    • GeraldineT
    • By GeraldineT 11th Mar 19, 5:15 PM
    • 1 Posts
    • 0 Thanks
    GeraldineT
    Hi I watched the money show and phoned Student finance the next day. I was told I had £300 of a refund to get. That was almost 3 weeks and no money has been deposited into my account? I was told 6-8 working days
    • seekinganswers
    • By seekinganswers 11th Mar 19, 8:06 PM
    • 1 Posts
    • 0 Thanks
    seekinganswers
    answers needed please about Mortgage style loan
    My daughter has lived in Australia for 23 years and has never earned enough to repay any of her student loan taken out over three years starting academic year 1992/93. I know the loans are written off after 25 years if repayments have not been made.

    As the loans were taken separately is each one written off year by year as 25 years is reached.

    More importantly she doesn't have the original paperwork to know the exact date they were taken in each year. Does anyone know at what point start of loan is calculated i,e, beginning or end of academic year or exact date of signing paperwork for loan.
    We would be very grateful for any knowledge of this.
    Thanks
    • deberera
    • By deberera 11th Mar 19, 8:38 PM
    • 6 Posts
    • 1 Thanks
    deberera
    Changing course options for funding
    Hi, can anyone help please? My daughter has completed a foundation year and is currently on the first year of an undergrad degree at Northumbria uni but has realised this course is not for her. She has been told by a staff member at the uni today that she can change course and will be eligible for funding for fees for second and third year of a new course but not for the first year. She will be eligible for the maintenance loan for all years. I am a single parent in a very low paid role working for the nhs so despite the suggestion made by the university staff member that she return home and get her parents to pay the first years fees this isnít an option for her as much as I wish it was. Does anyone know where we can seek help/funding for this new first year please? Thanks in advance for your help.
    Deberera
    • Ed-1
    • By Ed-1 11th Mar 19, 8:40 PM
    • 2,519 Posts
    • 1,317 Thanks
    Ed-1
    My daughter has lived in Australia for 23 years and has never earned enough to repay any of her student loan taken out over three years starting academic year 1992/93. I know the loans are written off after 25 years if repayments have not been made.

    As the loans were taken separately is each one written off year by year as 25 years is reached.

    More importantly she doesn't have the original paperwork to know the exact date they were taken in each year. Does anyone know at what point start of loan is calculated i,e, beginning or end of academic year or exact date of signing paperwork for loan.
    We would be very grateful for any knowledge of this.
    Thanks
    Originally posted by seekinganswers
    25th anniversary of the first payment of the last year's loan.
    • _shel
    • By _shel 12th Mar 19, 7:39 AM
    • 1,782 Posts
    • 3,261 Thanks
    _shel
    Hi.
    Im 36 years old and i've just handed in my notice following maternity leave and will be going on to universal credit while I care for my son. Im hoping to complete a 1 year level 4 diploma at a Montessori training centre. Is there any financial assistance, student loan or otherwise that you know of that I can apply for?
    Thanks
    Originally posted by Saztoes
    Ask the centre that's offering the training. As far as I'm aware student loans only apply to registered and approved educational establishments.
    • silvercar
    • By silvercar 12th Mar 19, 9:03 AM
    • 38,765 Posts
    • 162,037 Thanks
    silvercar
    Hi I watched the money show and phoned Student finance the next day. I was told I had £300 of a refund to get. That was almost 3 weeks and no money has been deposited into my account? I was told 6-8 working days
    Originally posted by GeraldineT
    They are probably overloaded by others in your situation.
    • silvercar
    • By silvercar 12th Mar 19, 9:06 AM
    • 38,765 Posts
    • 162,037 Thanks
    silvercar
    Hi, can anyone help please? My daughter has completed a foundation year and is currently on the first year of an undergrad degree at Northumbria uni but has realised this course is not for her. She has been told by a staff member at the uni today that she can change course and will be eligible for funding for fees for second and third year of a new course but not for the first year. She will be eligible for the maintenance loan for all years. I am a single parent in a very low paid role working for the nhs so despite the suggestion made by the university staff member that she return home and get her parents to pay the first years fees this isnít an option for her as much as I wish it was. Does anyone know where we can seek help/funding for this new first year please? Thanks in advance for your help.
    Originally posted by deberera
    Could her other parent help?

    The other option would be for her to work for a year to be able to pay the fees herself in the following year.

    She should be careful of the exact date that she withdraws from the current course, to avoid the slc demanding some of this year's loan back. Generally the end of term is the time to withdraw.
    • sheramber
    • By sheramber 13th Mar 19, 4:28 PM
    • 5,952 Posts
    • 4,499 Thanks
    sheramber
    Hi.
    Im 36 years old and i've just handed in my notice following maternity leave and will be going on to universal credit while I care for my son. Im hoping to complete a 1 year level 4 diploma at a Montessori training centre. Is there any financial assistance, student loan or otherwise that you know of that I can apply for?
    Thanks
    Originally posted by Saztoes
    Montessori Centre International is a listed body fo Student Finance
    https://www.gov.uk/check-a-university-is-officially-recognised
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