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Education Student Loans/Grant payments

Discussion in 'General' started by Matticus, 15 Sep 2008.

  1. Matticus

    Matticus ...

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    Has anyone else got their payments today, my first was scheduled for today and every other time it has been in my account when I woke up at 8am, but today it isn't.

    I briefly heard something about late payments to students on the news a few weeks ago but it was never brought up again so I assumed nothing ever came of it, so has anyone got their payments already? Should I wait it out? Or just ring Student Finance Direct now?
     
  2. Clocked

    Clocked Yar! It be drivin' me nuts...

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    I'm pretty certain some educational establishments require the Student loan award letter to be registered at your institution, I'm off to my induction today and i'm thinking that'll be when it gets done - was also expecting my first payment today
     
  3. Matticus

    Matticus ...

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    Well just rang my tutor and it seems that online re enrolment with the Uni isn't enough to release my payments and I wont get it till I enrol (again) in person. Rather annoying, especially for my GF as well as she has just gone overdrawn because H&M didn't put through a payment till 2 days later so when she checked her account she still had money left took a bit out, and H&M just took out enough to make sure she went overdrawn. So that is going to be a nice long phone call with natwest getting that charge removed, if they will do it at all.

    Yeah, just found that out (see above) but last year this wasn't an issue and I got the payments on the day term started not the day I enrolled.
     
    Last edited by a moderator: 15 Sep 2008
  4. Clocked

    Clocked Yar! It be drivin' me nuts...

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    yeah that was the case for me last year, well kind of. I did have a partial bursary last year and I'm fairly certain that it was paid automatically, however the loan portion required registration for.
     
  5. amandaaz

    amandaaz Banned

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    How can someone get a small personal loan for about 8 thousand dollars? Debt is a little high but credit is decent and bills are paid on time. My bank won't give me the loan. I have evaluated my budget and I would like to get this loan to bless my 1st grandson with some assistance in purchasing his first home. Are there any other options for me.
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    Last edited: 13 Apr 2009
  6. kingred

    kingred Surfacing sucks!

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    student loans don't go through till the first day of term usually. patience guys, mines not due till the 20th of april.
     
  7. Cookie Monster

    Cookie Monster Multimodder

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    Kind of off topic,

    I've heard something about if your wage sits below the payback level (£18,000 i think), after 10 year the loan is written off. Is that right?
     
  8. Matticus

    Matticus ...

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    Might be 15k, but I know you only start paying back when you earn over this amount. But yes the principle of that is true, you don't earn much, you clearly haven't used your degree, no point paying for it.
     
  9. Cookie Monster

    Cookie Monster Multimodder

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    but after a certain period of time do they forget about the debt? like i said i've heard that if in 10 years from getting the loan your wage doesn't pass this level they let you off paying it back.
     
  10. DougEdey

    DougEdey I pwn all your storage

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    They used to, but I'm unsure if they still clear the debt, if anything it's after such a long time that you'd seriously have to be doing almost nothing with your life in order to not pay it off.

    When you do start paying off you pay off 9% of whatever you earn over £15,000 in a year.
     
  11. Freedom

    Freedom Minimodder

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  12. DougEdey

    DougEdey I pwn all your storage

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    Harder for students? You guys get 25 years, I have to pay it off before I get to 65, i.e. before I retire...
     
  13. julianmartin

    julianmartin resident cyborg.

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    Oh no...you have to pay back money you asked to borrow!!!!! How terrible!

    :sigh::rolleyes:
     
  14. unrealhippie

    unrealhippie What's a Dremel?

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    What date is the april installment this year?
     
  15. Cookie Monster

    Cookie Monster Multimodder

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    Was that a bit of a slap in the face or what?
     
  16. DougEdey

    DougEdey I pwn all your storage

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    I'm not complaining about it, I'm actually paying off more then I need to each year as I want to clear it off before I emigrate. I get annoyed by people complaining about it or saying "It's not a real debt"
     
  17. Veles

    Veles DUR HUR

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    It's definitely a real debt but not like your usual loan or mortgage is like, mainly the fact that you don't have to do any repayments until you're over 15k (and even than, it's a small % of what you earn over 15k) and the interest rate is just the national interest rate. So thoretically you aren't paying back any extra since in 10 years, even though it's more money it's supposedly worth the same as it was previously, although that is a load of rubbish.
     
  18. kingred

    kingred Surfacing sucks!

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    bawwww seriously, you knew the consequences when you signed the paperwork guys, its up to you to read the conditions. as i am still on the old system i didn't need tuition fee loans :D so i only have a monster 18k to pay off, starting at about £2 a month when i get my career job. seriously not worth worrying about.
     
  19. ashchap

    ashchap Minimodder

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    That's what they want you to think! What they say is that the interest rate is linked to inflation. It just means it's a fixed amount higher than inflation. I'm in my 4th year of uni and I just get the basic maintenance loan. Last time I looked at my statement I'm paying over £40 a month in interest, so paying off £2 a month probably isn't going to help!
     
  20. kingred

    kingred Surfacing sucks!

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    yeah i agree but whining doesn't remedy the situation, we have to shut up and get working like we promised.
     
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