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TSR Pakistani Soc. MK9 Babbyyyyyyy

but don't u have to pay it back if ur earning over £15000?

Well yup, but it's 9% over 15K. Say you earn 16K. 15K is like your "allowance" So it's 9% over £1000 (16K - 15K) 9% of £1000 is £90 over the year, which is £8.75/month (or £1.73/week)

Hardly breaking the bank when a 16K wage nets you £1141.48/month or £263.42/week

Reply 2581

The_Internet

20

Original post by hasan4life

should have made paki tea then

I thought DontJudge was female any way?

Reply 2582

hasan4life

15

Original post by de_monies

Well yup, but it's 9% over 15K. Say you earn 16K. 15K is like your "allowance" So it's 9% over £1000 (16K - 15K) 9% of £1000 is £90 over the year, which is £8.75/month (or £1.73/week)

Hardly breaking the bank when a 16K wage nets you £1141.48/month or £263.42/week

ah yh that's what i was told too, its not that bad haha, but how we making money from it then?

Original post by de_monies

I thought DontJudge was female any way?

lol yh she is haha

Reply 2583

The_Internet

20

Original post by hasan4life

ah yh that's what i was told too, its not that bad haha, but how we making money from it then?

lol yh she is haha

Because you're paying it back at 1.5%. That's basically it. Any money not used, can be put in to say IBB and get you like 2.8%. I have an ISA with Nationwide which is 2.5%. Reason I have it is because well inflation rate is 2.8%, so I don't see it as interest, and therefore not haram (Interest makes money. This loses me money by 0.3% :biggrin:

)

You're making "pennies" ie: Your debt is 22K. Put it in a savings account. Pay back little by little. You make a little out of what you borrowed. Certainly works well for maintenance loan. Tuition loan not so much, but still

Though this little loophole has been closed for the 9K people

That being said, say your debt is 22K, and you want to get a house. You are incredibly unlikely to get a mortgage at below inflation rate!

(edited 10 years ago)

Reply 2584

distressed

Original post by de_monies

Well yup, but it's 9% over 15K. Say you earn 16K. 15K is like your "allowance" So it's 9% over £1000 (16K - 15K) 9% of £1000 is £90 over the year, which is £8.75/month (or £1.73/week)

Hardly breaking the bank when a 16K wage nets you £1141.48/month or £263.42/week

Don't mind me cutting in here, but I thought the payback rate was 9% of everything above 21K that you earn and not 15K :confused:

Reply 2585

The_Internet

20

Original post by distressed

Don't mind me cutting in here, but I thought the payback rate was 9% of everything above 21K that you earn and not 15K :confused:

For you guys, yup. Sorry, this was more for the likes of me and Hasan (the 3K people)

I think you guys pay inflation rate + 3%, so not the best deal at all. If I was on the 9K structure, I'd look to pay it off ASAP

Reply 2586

distressed

Original post by de_monies

For you guys, yup. Sorry, this was more for the likes of me and Hasan (the 3K people)

I think you guys pay inflation rate + 3%, so not the best deal at all. If I was on the 9K structure, I'd look to pay it off ASAP

Ahh Kay, got me worried for a second mate.

Yeah you're right, our loan increases at the rate of inflation but as soon as we earn above 21K it's inflation + 3%.. Gonna hit us hard.

Reply 2587

The_Internet

20

Original post by distressed

Ahh Kay, got me worried for a second mate.

Yeah you're right, our loan increases at the rate of inflation but as soon as we earn above 21K it's inflation + 3%.. Gonna hit us hard.

I think below 21K, you pay nothing back at all (Not even inflation rates). Tbh, I prefer our fee structure :biggrin:

And tbf I can't imagine earning below 21K except for maybe a year or so...

Reply 2588

distressed

Original post by de_monies

I think below 21K, you pay nothing back at all (Not even inflation rates). Tbh, I prefer our fee structure :biggrin:

And tbf I can't imagine earning below 21K except for maybe a year or so...

Mate forget your fee structure, I prefer your fees :frown:

And yeah we don't pay anything back until we earn above 21K, but the amount of money we owe still increases at the rate of inflation, that's what I was saying.

Reply 2589

Zeegie

OP

16

Original post by hasan4life

but don't u have to pay it back if ur earning over £15000?

bby with u, id be anything u want :heart:

is it sorted now lol? nah lol its to scare u in to doing it quick, after the first semester id say they'd put that in to effect if u haven't got it, but i doubt that will happen :smile:

yeah I sent the bloody paper form off to Darlington sharlington whatever maaan and my online application is just left like an effed up chaddi....no details submitted on there so they shouldn't look at it on there...yeah it is so bloody scary man! ahhh fair enough, thanks man :smile:

Reply 2590

The_Internet

20

Original post by Zeegie

yeah I sent the bloody paper form off to Darlington sharlington whatever maaan and my online application is just left like an effed up chaddi....no details submitted on there so they shouldn't look at it on there...yeah it is so bloody scary man! ahhh fair enough, thanks man :smile:

The online application is absolutely horrible (Or at least was for me in the first year) I had to print it off, and send it via post instead

Reply 2591

Iqbal007

19

Original post by hasan4life

but don't u have to pay it back if ur earning over £15000?

bby with u, id be anything u want :heart:

is it sorted now lol? nah lol its to scare u in to doing it quick, after the first semester id say they'd put that in to effect if u haven't got it, but i doubt that will happen :smile:

wasteman

Reply 2592

Zeegie

OP

16

Original post by de_monies

The online application is absolutely horrible (Or at least was for me in the first year) I had to print it off, and send it via post instead

yeah man I did that too, last minute :/

Reply 2593

YWArtist

Had chem2. Think I can kiss dentistry goodbye.

Reply 2594

Revent

10

Original post by YWArtist

Had chem2. Think I can kiss dentistry goodbye.

Reply 2595

MedMed12

21

Original post by YWArtist

Had chem2. Think I can kiss dentistry goodbye.

dont doubt yourself yet, remember its little weak AS students sitting that exam :P Plus, if they found it hard too, lower grade boundaries :wink:

Original post by Revent

aw that emotion is cute!

Reply 2596

shuaib786

2

Original post by de_monies

Well yup, but it's 9% over 15K. Say you earn 16K. 15K is like your "allowance" So it's 9% over £1000 (16K - 15K) 9% of £1000 is £90 over the year, which is £8.75/month (or £1.73/week)

Hardly breaking the bank when a 16K wage nets you £1141.48/month or £263.42/week