Q&A about Student Loans with Student Loans Company's Nichola Malton - Answers back

(59 Posts)
RachelMumsnet (MNHQ) Wed 09-Mar-11 13:13:34

Financial expert Jasmine Birtles has teamed up with the Student Loans Company (SLC) to talk about student finance. Covering what funding you are entitled to for tuition fees and living costs, how to apply for this money and when to make sure your finances are in place - either to start university or continue on to another academic year.

This is an opportunity for you to ask questions about the application process, benefit from her financial wisdom on how to manage your finances - or help your child budget - at university.

Send in your questions to Jasmine Birtles and Nichola Malton from the SLC before Monday 14th March at 5pm and we'll link to the answers from this thread later that week.

COCKadoodledooo Thu 10-Mar-11 16:49:18

My question is very simple. After having shedloads of information from us before loans/grants were eventually issued, why do we have to provide more of the same?!

I thought once the course was finished all we'd get was a repayment schedule but no - rather threatening letters demanding immediate repayment of the adult dependent's grant for not having provided, err, information we had already given before the course started and proof of no income (which is a ludicrously difficult thing to prove)!

MABS Thu 10-Mar-11 17:28:50

my daughter will have to be overseas for her A levels, just 2 years. Not her choice, her father's job. After uni she will stay in England to work. We own a house here. why won't she be entitled to a student loan?

My son has not yet received his student loan. He is half way through his first year of a Business Management BA, but is thinking of giving up. Is it possible to cancel the loan application? What should he do if the money arrives after he's given up the course?

mum2supercharlie Thu 10-Mar-11 21:55:13

Hi, excuse my ignorance and lack of knowledge on this topic. My husband is paying a student loan back through his monthly salary. It shows on his payslip and he has no idea how much there is left to pay back, how much he has paid back already, how long we will have deductions from his salary etc. We get a yearly statement but he didn't understand as the amount showing as still outstanding is what he thought the original borrowing equals. Please can you tell us where we can find this information out? I don't have experience of a student loan but have heard you can do all this online. He graduated in 2004. He doesn't know if he has an account online.

chicaguapa Fri 11-Mar-11 10:20:43

Cock I'm with you on that. We have also had threatening letters to pay back our ADG, and have had to jump through many many hoops to provide all sorts of information, which is still ongoing. As it's just for £4k I am strongly considering getting a separate loan from a bank to pay back the ADP and put an end to it all! I just don't have the time to photocopy reams and reams of bank statements, policy documents, payslips etc., just to get another letter back saying 'and now we need this...'

pinkbraces Fri 11-Mar-11 12:29:48

My daughter will hopefully be going to Uni, autumn 2012, in order to miss out on all the confusion and general lateness of receiving finances when is the earliest we can apply for the relevant monies? I would really like to avoid some of the horror stories I have heard.

many thanks

Another frustrated childcare allowance googler (and parental allowance) here! Surely it can't be that hard to give at least an indication, a few case studies?

onadietcokebreak Fri 11-Mar-11 20:44:31

I would also like advise on what to do about my student finance. I am planning on deferring next academic year as pregnant.

However it is still early days and of course miscarriage is a risk.Is it advisable to apply online like the rest of my class?

Also what happens about my childcare grant? at the moment it is paid through the summer. However would this be repayable if I dnt return in Sept.

WhiteRose26 Sat 12-Mar-11 09:47:54

My daughter took a gap year immediately after school and worked in order to put some money away for Uni. She had several part-time jobs over the year, but did not earn enough to pay tax, which gives an idea of the fairly low amount she had.

She is currently in her first year and received the full loan for this year, plus a relatively small means-tested grant based on our household income.

She is currently applying for SF for next year and has been told via the SF website that the amount she will get next year is less than the amount she got this year. Is this because she worked?

She is quite upset about this because the student loan will not even cover her portion of the rent on the house she and a group of friends are now committed to for the next academic year.

She will earn even less this year and we cannot make up the shortfall.

tyler80 Sat 12-Mar-11 17:34:38

When new fees are introduced and the repayment terms are altered so that loans are only paid back on income earned above 21k will this only be for students paying the increased fees?

Should I resign myself to paying a percentage of everything I earn over 15k until I'm 65/die?

mercibucket Sat 12-Mar-11 23:34:25

sigh, just checked bank account and payment still not taken - it's supposed to be the last payment as well. why oh why oh why can't your company function properly

Xenia Sun 13-Mar-11 19:37:46

Gosh, this thread is making me rather glad I was lucky enough to earn enough to ensure my 3 older children have graduated without having anything to do with the student loans company.

Ponders Wed 16-Mar-11 13:57:54

I have a supplementary question now related to mine on Wed 9th - "When I come to do DS2's application, after 16th March" - how come the website let me do his application on Friday 11th??? confused

Anyway DS2's loan figure has come out £300+ higher than DS1's - will DS1's loan amount automatically change to match, or does he have to ask for it, or does he just get less???

Ponders Wed 16-Mar-11 14:11:13

and one more, completely different, question - why are the termly payment amounts so arbitrary?

Easter is so late this year that there is 4 months between the Spring term payment (10/01/2011) & the Summer term payment (03/05/2011). This means that students renting accommodation privately & paying rent monthly will have to find the rent for April before they get the loan in May.

And the amount paid in January, to cover 4 months, is the same as the amount paid in September (27/09/2010), which only had to cover 3½ months.

And the loan in May, which actually only covers about a 6-week term, is more than the one in January!!! (Is this intended to help with summer expenses? As the difference is only about £45, it won't go very far hmm)

It would be much more helpful for student budget purposes if the annual loan/grant amounts were divided by the number of weeks in the academic year, & paid out according to the number of weeks in each term.

saggarmakersbottomknocker Wed 16-Mar-11 14:39:56

Ponders, absolutely agree with you re payment dates. My ds2 gets his last payment on 16/4 or thereabouts - he's abroad and his academic year finishes on 23/4 confused It would be much better if it was more flexible with maybe some choice about when we receive the maintenance grant/loan payments. Most students have their biggest outlay in their first term - travelcards, books, accommodation; much more sensible to receive maybe half then and the other half spread over the rest of the year.

RachelMumsnet (MNHQ) Thu 17-Mar-11 13:12:04

The answers are now back from the Student Loans Company and you can see the full Q&A here:

Student Loans Q&A

mum2supercharlie Thu 17-Mar-11 20:55:13

Thank you Nichola and thank you for covering this MN. Great idea.

Jamesnov Mon 30-Jan-12 23:41:01

Hi i have a child and my wife she is not Woking.can i get dependent grant. i am studying full time and work part-time i get £5000 and getting tax credits and working tax credits i get £7200

can you please tell me if i am eligible for dependent grant

thank you

Jamesnov Tue 31-Jan-12 00:00:13

Hi i have a child and my wife she is not Woking.can i get dependent grant. i am studying full time and work part-time i get £5000 and getting tax credits and working tax credits i get £7200.can you please tell me if i am eligible for dependent grant.

thank you

eatyourveg Tue 31-Jan-12 15:32:48

Is household income gross or net?

Jamesnov Tue 31-Jan-12 17:46:23

my household income gross 12200 total i get Student Loans £6000+2900 student grant total is £21,100

chappell1285 Fri 20-Apr-12 13:10:21

Hi

i am currently studying nursing and i am in reciept of an nhs bursary. for the past 9 months i have been on maternity leave and still in reciept of my funding. i am now due to return to my course in september but i have today been told that there are no places are available and that i will have to join the march 2013 intake. aswel as this i have been informed that my bursary will stop until i return. i have looked on the nhs bursaries website and they mention that if uni cannot allow me to go back then i can extend my mat leave. nhs bursaries say its down to the uni to organise but when i have spoken to my university they seem very unwilling to help me stating that i could go on benefits or get a job. benefits is not really an option due to my partner working and as for a job in this economic climate its very unlikely especially for just 6 months and one that will pay for my rent which is what my bursary covers and also the added cost of childcare.

i am really stuck and unsure of who to turn to. does anyone know the details around this situation and what i can do to resolve it????

chappell1285 Fri 20-Apr-12 13:10:42

Hi

i am currently studying nursing and i am in reciept of an nhs bursary. for the past 9 months i have been on maternity leave and still in reciept of my funding. i am now due to return to my course in september but i have today been told that there are no places are available and that i will have to join the march 2013 intake. aswel as this i have been informed that my bursary will stop until i return. i have looked on the nhs bursaries website and they mention that if uni cannot allow me to go back then i can extend my mat leave. nhs bursaries say its down to the uni to organise but when i have spoken to my university they seem very unwilling to help me stating that i could go on benefits or get a job. benefits is not really an option due to my partner working and as for a job in this economic climate its very unlikely especially one that will pay for my rent which is what my bursary covers and also the added cost of childcare.

i am really stuck and unsure of who to turn to. does anyone know the details around this situation and what i can do to resolve it????

chappell1285 Fri 20-Apr-12 13:12:24

Hi

i am currently studying nursing and i am in reciept of an nhs bursary. for the past 9 months i have been on maternity leave and still in reciept of my funding. i am now due to return to my course in september but i have today been told that there are no places are available and that i will have to join the march 2013 intake. aswel as this i have been informed that my bursary will stop until i return. i have looked on the nhs bursaries website and they mention that if uni cannot allow me to go back then i can extend my mat leave. nhs bursaries say its down to the uni to organise but when i have spoken to my university they seem very unwilling to help me stating that i could go on benefits or get a job. benefits is not really an option due to my partner working and as for a job in this economic climate its very unlikely especially one that will be for 6 months that will pay for my rent which is what my bursary covers and also the added cost of childcare.

i am really stuck and unsure of who to turn to. does anyone know the details around this situation and what i can do to resolve it????

chappell1285 Fri 20-Apr-12 13:15:37

Hi

i am currently studying nursing and i am in reciept of an nhs bursary. for the past 9 months i have been on maternity leave and still in reciept of my funding. i am now due to return to my course in september but i have today been told that there are no places are available and that i will have to join the march 2013 intake. aswel as this i have been informed that my bursary will stop until i return. i have looked on the nhs bursaries website and they mention that if uni cannot allow me to go back then i can extend my mat leave. nhs bursaries say its down to the uni to organise but when i have spoken to my university they seem very unwilling to help me stating that i could go on benefits or get a job. benefits is not really an option due to my partner working and as for a job in this economic climate its very unlikely especially one that will be for 6 months that will pay for my rent which is what my bursary covers and also the added cost of childcare.

i am really stuck and unsure of who to turn to. does anyone know the details around this situation and what i can do to resolve it????

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