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  • FIRST POST
    • MSE Eesha
    • By MSE Eesha 8th Mar 16, 12:44 PM
    • 113Posts
    • 29Thanks
    MSE Eesha
    Postgraduate loans 2016/2017 starters
    • #1
    • 8th Mar 16, 12:44 PM
    Postgraduate loans 2016/2017 starters 8th Mar 16 at 12:44 PM
    Hi!

    This is the discussion thread for the



    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.


    Thanks folks,
    Last edited by MSE Eesha; 18-03-2016 at 3:48 PM.
Page 4
    • LauraBlingham28
    • By LauraBlingham28 19th Sep 17, 7:12 PM
    • 1 Posts
    • 0 Thanks
    LauraBlingham28
    Masters Funding Options
    Hi,

    I'm having a real issue with funding for my Masters degree that I'm wanting to start January next year.

    I'm working full time and wanted to do the part time distance learning of the degree, which you have between 2-8 years to complete.

    I wasn't aware that I cannot get student finance for my Masters of the £10,000 unless I complete the degree within 2 years because the full-time equivalent of the course is to be completed within 1 year so student finance request that the part-time version is completed in no more than double the full-time version!

    I won't be able to do 25 hours per week and work full time. Has anyone at all got any other ideas of funding that I could apply for or how to do this?

    My course is £12,000!

    Thanks,

    Laura
    • PixPop
    • By PixPop 17th Nov 17, 8:10 PM
    • 3 Posts
    • 0 Thanks
    PixPop
    Hi there,
    I had to withdraw from my Masters after a month. I received the first payment of my loan. Will I have to pay this back straight away or will monthly payments be taken like my undergraduate degree?
    • Tonkski
    • By Tonkski 15th May 18, 11:36 AM
    • 3 Posts
    • 0 Thanks
    Tonkski
    Postgraduate Loan Repayments and Pension Income
    The guide says:

    "It's one reason those who are relatively near retirement, who don't have a degree and want one, will find doing one very appealing. This is because unless they've a huge pension, they know they'll never have to repay."

    and

    "...if you were aged 59 taking a course, unlikely to ever go back to full-time employment and living off pension earnings of under £21,000, you'd never need to repay this cash, so borrowing more would be a big win Ė at taxpayers' expense."

    My reading of the guidance is that the size of your occupational pension income makes no difference to repayments - it isn't normally considered, unless it is subject to NIC1 payments or you have to complete tax self-assessment with unearned income of more than £2000. See under the heading "Student Loan deductions and Occupational Pensions" at the student loan repayment website FAQ for Plan 1 (sorry, can't post links yet). I canít find any information published about Plan 2 and pension income.

    Is my interpretation correct?
    • Ed-1
    • By Ed-1 15th May 18, 12:31 PM
    • 2,389 Posts
    • 1,244 Thanks
    Ed-1
    The guide says:

    "It's one reason those who are relatively near retirement, who don't have a degree and want one, will find doing one very appealing. This is because unless they've a huge pension, they know they'll never have to repay."

    and

    "...if you were aged 59 taking a course, unlikely to ever go back to full-time employment and living off pension earnings of under £21,000, you'd never need to repay this cash, so borrowing more would be a big win Ė at taxpayers' expense."

    My reading of the guidance is that the size of your occupational pension income makes no difference to repayments - it isn't normally considered, unless it is subject to NIC1 payments or you have to complete tax self-assessment with unearned income of more than £2000. See under the heading "Student Loan deductions and Occupational Pensions" at the student loan repayment website FAQ for Plan 1 (sorry, can't post links yet). I canít find any information published about Plan 2 and pension income.

    Is my interpretation correct?
    Originally posted by Tonkski
    Yes you're right. For some reason MSE think pension income counts.
    • Tonkski
    • By Tonkski 18th May 18, 8:52 AM
    • 3 Posts
    • 0 Thanks
    Tonkski
    Can anyone from MSE comment please?
    • agrinnall
    • By agrinnall 18th May 18, 10:11 AM
    • 21,228 Posts
    • 17,050 Thanks
    agrinnall
    Can anyone from MSE comment please?
    Originally posted by Tonkski
    Have you informed them of the error? It's very unlikely that they will see it here.
    • Tonkski
    • By Tonkski 18th May 18, 10:14 PM
    • 3 Posts
    • 0 Thanks
    Tonkski
    Ah, sorry I'm new here. I thought the forum was the way to contact them - I was directed here by a link in the original guide. What's the right way please?
    • agrinnall
    • By agrinnall 18th May 18, 10:20 PM
    • 21,228 Posts
    • 17,050 Thanks
    agrinnall
    I was going to say click on the Contact us link at the bottom of the page but it doesn't seem to be working at the moment. Hopefully that's a temporary glitch and it will eventually work again.
    • Musto man
    • By Musto man 25th May 18, 2:30 PM
    • 1 Posts
    • 0 Thanks
    Musto man
    Post grad loan issue.
    My physiotheraphy postgraduate Masters will cost 12K per year and there are 2 years. I am only 21. The student finance England company only offer around 5K per year. How best should I make up my funding loss or should I just approach a bank for all the money. The 12K doesn't include any living allowance. Any thoughts please?
    • silvercar
    • By silvercar 25th May 18, 5:09 PM
    • 37,958 Posts
    • 159,745 Thanks
    silvercar
    Ah, sorry I'm new here. I thought the forum was the way to contact them - I was directed here by a link in the original guide. What's the right way please?
    Originally posted by Tonkski
    Contact the forum team using forumteam@moneysavingexpert.com
    I'm a Board Guide on the Debate House Prices & the Economy, House Buying, Renting & Selling, Mortgages and Endowments, In My Home incl DIY, Overseas Holidays & Student boards.
    I volunteer to help get your forum questions answered and keep the forum running smoothly.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of moneysavingexpert.com.
    • CakeCrusader
    • By CakeCrusader 5th Jun 18, 12:23 PM
    • 571 Posts
    • 290 Thanks
    CakeCrusader
    My physiotheraphy postgraduate Masters will cost 12K per year and there are 2 years. I am only 21. The student finance England company only offer around 5K per year. How best should I make up my funding loss or should I just approach a bank for all the money. The 12K doesn't include any living allowance. Any thoughts please?
    Originally posted by Musto man

    Have you applied to your Uni for a Scholarship? A Masters is usually one year, not two, so if this part time? You should be able to work as well as study if this is the case.
    • marydoll51
    • By marydoll51 3rd Sep 18, 12:01 PM
    • 1 Posts
    • 0 Thanks
    marydoll51
    marydoll
    I wrote to the department of education and was told that someone of my age was less likely to pay back the loan. In my opinion this is even more outrageously discriminatory than the original age limit. This year I have been accepted for an MSc by Chester and am desperately searching for funding. I work, I love what I do and intend to continue working for as long as I am able, and the government is encouraging us all to extend our working lives so why shouldn't pepole over 60 be allowed to access courses that will enrich their knowledge, improve their efficiency and increase their job prospects. It is blatant discrimination and I see no reason why the government should be exempt from it's own discrimination laws. If anyone knows of any way in which to challenge this I would be very grateful.
    • Gigglesme
    • By Gigglesme 13th Oct 18, 2:08 AM
    • 1 Posts
    • 1 Thanks
    Gigglesme
    It's only age discrimination in the same way that paying younger staff a lower minimum wage is, in that it's perfectly legal.
    • rollingmoon
    • By rollingmoon 22nd Oct 18, 1:58 PM
    • 11 Posts
    • 10 Thanks
    rollingmoon
    1) I had the original 'mortgage' style loan pre-1998 and deferred it for a while but after a while I was not contacted by the loans company and it dropped off the radar. Probably about 2k is left to pay. Is this amount still payable? Or is it written off - I'm 52 and it was 25 years ago.
    Originally posted by fulcanelli
    It would have been written off by the time you turned 50 as long as you had kept up with deferments/any payments due. However, that's not the case if you'd ever been in arrears so you may find that contacting them will open a can of worms. Someone here will know better than me if any such debt would be statute barred after all this time. Good luck!
    • _shel
    • By _shel 22nd Oct 18, 2:12 PM
    • 1,506 Posts
    • 2,624 Thanks
    _shel
    It would have been written off by the time you turned 50 as long as you had kept up with deferments/any payments due. However, that's not the case if you'd ever been in arrears so you may find that contacting them will open a can of worms. Someone here will know better than me if any such debt would be statute barred after all this time. Good luck!
    Originally posted by rollingmoon
    Student loans are never statute barred. Along with tax debt.
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