starting uni again after the 9K introduction

Reply 20

applicationa

2

Original post by distressed

Cool, cheers mate.
Do you work for SF btw?

My posts here are not in an official capacity. I work in one of the call centres.

Reply 21

punani

14

As a side note to this discussion there are strong rumours going round that the Student Loans Company will be privatised. This will probably mean less generous repayment terms, so if you are considering studying and are put off by the fees I would bite the bullet now rather than put it off.

Also you will have to pay 9% of your salary above £21,000 in repayments so you will have to earn over £35,500 PA before you have to pay above £25 per week in repayments. Not worth worrying about really.

Reply 22

applicationa

2

Original post by punani

As a side note to this discussion there are strong rumours going round that the Student Loans Company will be privatised. This will probably mean less generous repayment terms, so if you are considering studying and are put off by the fees I would bite the bullet now rather than put it off.

Also you will have to pay 9% of your salary above £21,000 in repayments so you will have to earn over £35,500 PA before you have to pay above £25 per week in repayments. Not worth worrying about really.

I have heard those rumours, they refer to the sell-off of the old pre-1998 Mortgage Style loan book. Though if it happens the loan terms will stay the same, because they are set by legislation not by the SLC.

Reply 23

punani

14

Original post by applicationa

I have heard those rumours, they refer to the sell-off of the old pre-1998 Mortgage Style loan book. Though if it happens the loan terms will stay the same, because they are set by legislation not by the SLC.

Interesting. Would this be a big earner for a company to buy? I thought they were wanting to get the more recent loans off their books as it appears there is very little chance of most students paying off their loans within the repayment time frame?

Reply 24

applicationa

2

Original post by punani

Interesting. Would this be a big earner for a company to buy? I thought they were wanting to get the more recent loans off their books as it appears there is very little chance of most students paying off their loans within the repayment time frame?

The pre-1998 loan book is full of unpaid debt that the SLC really don't have the resources to chase. For a debt management company that does have the resources to do it it could be an investment.

There is no issue with the newer loans. As a not-for-profit entity the SLC has plenty of time to wait for the proceeds from these, and the loans that will be written off will be balanced out by the ones that accrue interest for a while before the borrowers start earning a lot of money. At least, that's the idea.

starting uni again after the 9K introduction

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