Davetrials Posted March 2, 2009 Report Share Posted March 2, 2009 Whats the crack? i have no idea about them? Quote Link to comment Share on other sites More sharing options...
Ryan. Posted March 2, 2009 Report Share Posted March 2, 2009 Whats the crack? i have no idea about them? Quote Link to comment Share on other sites More sharing options...
Tony Harrison Posted March 2, 2009 Report Share Posted March 2, 2009 The crack is that you have to pay it back one day.Do you think this is feasible? Quote Link to comment Share on other sites More sharing options...
Hendrix Posted March 2, 2009 Report Share Posted March 2, 2009 The crack is that you have to pay it back one day.Do you think this is feasible?Not til you show you earn over £20k I believe.Student Finance is your first port of call boyo's. Quote Link to comment Share on other sites More sharing options...
Davetrials Posted March 2, 2009 Author Report Share Posted March 2, 2009 Not til you show you earn over £20k I believe.Student Finance is your first port of call boyo's. 15k and the student finace website is a f**king peice of shit, i litterally just screamed at it, cos its being so stupidand ian, ur far to usless. f**k off. Quote Link to comment Share on other sites More sharing options...
Max Quinn Posted March 2, 2009 Report Share Posted March 2, 2009 I was under the impression that once you accept uni offers an stuff all we be explained and will sort itself out? But then again i'm not very pro active with things like this. Quote Link to comment Share on other sites More sharing options...
weirdoku Posted March 2, 2009 Report Share Posted March 2, 2009 You have to apply for the student loan from The Student Loan Company. You don't pay it back until you earn over £15K, that's what it was the last time I looked. You get paid in 3 chunks each year, paid to your bank account at the beginning of each semester. You have to reapply each year.I haven't even looked at the SLC website at all, I just got the form and filled it up. It should (pretty sure it will) come with a seperate booklet telling you everything you need to know. Quote Link to comment Share on other sites More sharing options...
RobinJI Posted March 2, 2009 Report Share Posted March 2, 2009 The Student Loan CompanyJust as a warning to people, this company can't run business for shit Since dropping out of my course I now owe them some money, fair enough, I don't mind repaying it, that's kinda how it works as far as I can tell.But... they seem to be trying to get it back by repeatedly sending me irrelevant threatening letters that provide no information about my repayment options, or even how much I actually owe, in fact the most relevant thing on the letters is my name and the word 'hello'. The also don't yet seem to have worked out how to set up a direct debit, they've repeatedly cocked it up for a number of reasons so far. Mainly clearly telling me it will be a direct debit over the phone, then going ahead and setting up a standing order, then when they finally managed it, they cocked up the numbers, and took out a tenner a month instead of the agree'd 12th of my debt (I wanted to get it out of the way in a year). They also can't make there mind up about how much I owe them.All in all, they fail at being a debt collectors in just about every way you can fail, and should all have their left testes removed with a pitch fork.If anyone from the student loan company is out there, I don't mind paying back your money, just tell me the f**k how, and don't cock it up for once!!!Anyway, rant over. Hope everything goes well, but if there's any complications, prepare to start pulling your hair out at their shear stupidity. Quote Link to comment Share on other sites More sharing options...
Shaun H Posted March 3, 2009 Report Share Posted March 3, 2009 Just as a warning to people, this company can't run business for shit Since dropping out of my course I now owe them some money, fair enough, I don't mind repaying it, that's kinda how it works as far as I can tell.But... they seem to be trying to get it back by repeatedly sending me irrelevant threatening letters that provide no information about my repayment options, or even how much I actually owe, in fact the most relevant thing on the letters is my name and the word 'hello'. The also don't yet seem to have worked out how to set up a direct debit, they've repeatedly cocked it up for a number of reasons so far. Mainly clearly telling me it will be a direct debit over the phone, then going ahead and setting up a standing order, then when they finally managed it, they cocked up the numbers, and took out a tenner a month instead of the agree'd 12th of my debt (I wanted to get it out of the way in a year). They also can't make there mind up about how much I owe them.All in all, they fail at being a debt collectors in just about every way you can fail, and should all have their left testes removed with a pitch fork.If anyone from the student loan company is out there, I don't mind paying back your money, just tell me the f**k how, and don't cock it up for once!!!Anyway, rant over. Hope everything goes well, but if there's any complications, prepare to start pulling your hair out at their shear stupidity.Why? It's the cheapest loan you'll ever ever get...But yes, the SLC is a steaming pile of horse turd. Quote Link to comment Share on other sites More sharing options...
RobinJI Posted March 3, 2009 Report Share Posted March 3, 2009 Because I dropped out half way through a year I was no longer entitled to some of the loans and grants I'd been given, so they wanted it paying back ASAP. Which is fair enough. Quote Link to comment Share on other sites More sharing options...
M-i-t-c-h Posted March 3, 2009 Report Share Posted March 3, 2009 Interest rate jumped last year from 2% to 4% the biggest leap in interest from any government initiative. However still the the uk base rate is 6% and its always going to track bellow.If your clever you can put the money in an isa at around 8% come out of uni with more money than you went in....... Quote Link to comment Share on other sites More sharing options...
Revolver Posted March 3, 2009 Report Share Posted March 3, 2009 If your clever you can put the money in an isa at around 8% come out of uni with more money than you went in.......HmmmAt the very least, if you do that with some of it, you've got a nice lot less to pay off. Quote Link to comment Share on other sites More sharing options...
Muel Posted March 3, 2009 Report Share Posted March 3, 2009 That would work if interest rates hadn't failed, my ISA was making 6% last year, now it's making 1.2%. Quote Link to comment Share on other sites More sharing options...
M-i-t-c-h Posted March 3, 2009 Report Share Posted March 3, 2009 your fault for not getting a fixed rate.BBBUUUUURRRRNNNNN! Quote Link to comment Share on other sites More sharing options...
adamtrials Posted March 3, 2009 Report Share Posted March 3, 2009 Whacking it all in a high interest account sounds all fine and dandy, but how are you supposed actually to pay for everything? Quote Link to comment Share on other sites More sharing options...
Revolver Posted March 3, 2009 Report Share Posted March 3, 2009 Get a part-time job? Quote Link to comment Share on other sites More sharing options...
Muel Posted March 3, 2009 Report Share Posted March 3, 2009 Fixed rate on an under 18s ISA? Yeh right....I did mean to get a proper current account and ISA when I turned 18, silly me, I could be getting 8% interest now. Doesn't make any difference because I've got f**k all to pay into it. Quote Link to comment Share on other sites More sharing options...
adamtrials Posted March 3, 2009 Report Share Posted March 3, 2009 Get a part-time job?That pays about £125-150 a week? That's hardly part time haha.As luck would have it I have several cunning plans for how to pay for it without working for anyone else, I'd rather not fail my course by doing 25 hours a week just so I can finish debt free... Quote Link to comment Share on other sites More sharing options...
Matthew62 Posted March 3, 2009 Report Share Posted March 3, 2009 Student loans are just a fact more most who have to go to Uni....although it has got a bit shitty now course fees have rocketted up. I'm glad i did Uni before they went crazy, not sooo sure how worth it is going now - especially for creative courses!Every year i had a problem with my student loan - only minor such as not paying in on the specified date because Uni hadn't confirmed my attendance etc, but everytime i rang them they were more than helpful and got everything sorted and explained everything i needed to know. Maybe don't rely on the website, ask at your current school/college for information as to how to apply, though you really should have been told.My local LEA lost my forms one year which was a bit of an issue. I think my loan was quite a few weeks late because the lady at my home town had not filed my form away and eventually found it in the back of a filing cabinet.Its not much fun to do, so just try and get it out of the way as soon as possible. Quote Link to comment Share on other sites More sharing options...
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