This discussion is closed.
Student Money Week 2017
Badges: 4
Rep:
?
#1
Report Thread starter 5 years ago
#1
Whether you're a new student or about to finish your course, if there's something you want to know about repayment, ask our experts.

Nicholas has worked at the Student Loans Company for more than three years. He specialises in all aspects of repayment.

Duncan is a member of the HMRC Student Finance Team. He is responsible for producing guidance relating to HMRC's part in the student loan repayment process. This includes guidance for borrowers on the Gov.uk website. He works in partnership with colleagues from Student Loan Company to help make the process as smooth as possible.
0
Charliefen
Badges: 8
Rep:
?
#2
Report 5 years ago
#2
(Original post by Student Money Week)
Whether you're a new student or about to finish your course, if there's something you want to know about repayment, ask our experts.

Nicholas has worked at the Student Loans Company for more than three years. He specialises in all aspects of repayment.

Duncan is a member of the HMRC Student Finance Team. He is responsible for producing guidance relating to HMRC's part in the student loan repayment process. This includes guidance for borrowers on the Gov.uk website. He works in partnership with colleagues from Student Loan Company to help make the process as smooth as possible.
Hi, in 2012 we were told that the amount you have to earn before repaying would go up as annual income increases, so the £21,000 should be higher by the time we finish university, is that correct? As it does seem unfair that they are thinking of freezing the amount again, meaning we will have to pay back more than people back then. To be completelt honest, £21,000 isn't as good of a wage as it was back then. I also think it should increase due to the fact that grangs have been scrapped, it is starting to seem like they are just picking on the poorest students.
0
Alex024
Badges: 0
Rep:
?
#3
Report 5 years ago
#3
I graduated last year and after some postal issues I've been sent the declaration I need to fill out for repayment since HMRC can't match my records. There are two forms, living in the UK or living overseas.

I'm currently on a masters programme abroad (in the EU) but the overseas form is worded in a way that declares me resident in that other country.

This is a major issue. I'm applying for PhDs back home in the UK and I've been assessed as a home student (but my funding applications are still pending on the basis of home status). If I'm not resident in the UK for 3 years prior to starting the PhD then I'm classed as an EU student and not eligible for the full amount.

Obviously this seems ridiculous that I could be classed as EU when I'm a UK citizen abroad temporarily for study.

If I declare to student finance that I'm studying abroad and that info is passed to HMRC is that going to affect my home status for PhD funding (either through the university or the research council)? I obviously still have a UK home address.
0
Val17
Badges: 1
Rep:
?
#4
Report 5 years ago
#4
Hi,
I'm going to apply for student finance as I'm starting university in September.
I have saved up some money this year and at any point in my studies my parents might also get the opportunity to help me repay my student debts so far.
How does repayment work? Can I repay before the end of my studies, in one go? And if I can get private finance for, let's say, my third and fourth years, can I stop receiving student funding for these years if I give a warning early enough?
If you could please explain how this works, it would be very appreciated, thank you.
Valentine
0
Gary-_-H
Badges: 0
Rep:
?
#5
Report 5 years ago
#5
Hello, thanks for taking the time to learn about my problem

A little bit of background: I started Uni in 2014/15 academic year and took temporary leave early in Semester 2 on health grounds. Because of this the tuition fee for that year was halved.

Returning to Uni in this (2015/16) academic year from the start of Semester 2, the university does not require any tuition fee for this year. So, in my application to SF I put £0 on the tuition fee loan amount. This was upheld and agreed to on the declaration and such.

So, here's the thing: I'm now getting paid a tuition fee loan amount of around £4,500 directly to me. It won't be going to the University because they don't need it, I already have my maintenance loan and grant so I don't need it, and to be honest I don't know how this will stand in terms of repayment so I don't want it.

I suppose my question is if it does come to me is there a way to pay it straight back? Or if I did keep it, would it stack on top of my loan fees to be paid back AFTER university, or will they ask for it back as soon as they think I've been overpaid?
Is it a mistake they have made? Or should I just not worry about it and pay it off with the rest of my loans as usual after Uni?

Thanks in advance for any answers and/or advice, I really appreciate it
0
Samwin
Badges: 15
Rep:
?
#6
Report 5 years ago
#6
Hi All

Basically last year (december 2015) my uni recommended I leave university as my health was and still is on the decline Anyway, after lots of upset, mis information given and everything that goes with it, along with an unsuccessfull appeal and being accused of fraud by SFE (as my parents care for my younger severely autistic brother whom of which has multiple disabilities they couldn't afford to not make me pay rent; so I gave them the majority of my loan/grant, the rest going on books for the course and travel to and from college)

Anyway, with a now £780 debt to pay; I am really confused; as keep getting a letter from student finance telling me my loan application was successful O.o I am just finding them so confusing
0
Alex024
Badges: 0
Rep:
?
#7
Report 5 years ago
#7
I graduated last year and after some postal issues I've been sent the declaration I need to fill out for repayment since HMRC can't match my records. There are two forms, living in the UK or living overseas.

I'm currently on a masters programme abroad (in the EU) but the overseas form is worded in a way that declares me resident in that other country.

This is a major issue. I'm applying for PhDs back home in the UK and I've been assessed as a home student (but my funding applications are still pending on the basis of home status). If I'm not resident in the UK for 3 years prior to starting the PhD then I'm classed as an EU student and not eligible for the full amount.

Obviously this seems ridiculous that I could be classed as EU when I'm a UK citizen abroad temporarily for study. My current university have said I am not a resident in their country and therefore I must retain my UK permanent residency.

If I declare to student finance that I'm studying abroad and that info is passed to HMRC is that going to affect my home status for PhD funding (either through the university or a research council)? I obviously still have a UK home address.
0
M_lala00
Badges: 0
Rep:
?
#8
Report 5 years ago
#8
Hi,

I'm planning to drop out my current course and would like to apply for a new one this September. I heard that SFE would probably charge me for an over-payment grant which I need to payback immediately.

My problem is I'm currently unemployed at the moment. Can I ask for a repayment plan to pay my over-payment grant (Monthly installments?) or can I ask them to deduct the over-payment grant fee to my maintenance grant this September?

Thank you in advance!
0
nikki.4
Badges: 0
Rep:
?
#9
Report 5 years ago
#9
Hi,
Im currently a first year student doing a joint honours degree in Film and Creative Writing (CW). Film did not turn out to be what i expected it to and I'm just not happy at all. I have no idea of what i want to do in the future and see no point in continuing to study film when it makes me feel like s*** when i just think about it. I have 3 classes for film in one day per week and have missed all 3 days since this term started! I want to continue studying CW but I know i can't drop Film and continue doing CW for the rest of this term and summer term.

Although I am passing both classes I feel like i put more effort into my work for film because i hate it so it requires more concentration and this has held me back from doing better in CW. With all this in mind I think that its best for me to drop out and apply to do a single honours in Creative Writing for sep 2016.

I am really confused on how my repayment for student finance will work. I know i pay back the tuition fee when i start earning a certain amount. I recieved a Grant which i know that i dont pay back. I was supposed to live out but ended up staying at home and never updated that on my student finance. So I recieved a maintanence loan of about £2k last term and this term. I spent all my money last term and have spent within the range of my Grant only this term.

If i drop out during this term or at the end of this term which is the end of March, Will I have to pay back the Grant or the Mantanance Loan for either last term or this term...or even both??
0
Llinos_
Badges: 0
Rep:
?
#10
Report 5 years ago
#10
So what do you do if you've been paid student finance but you've dropped out of uni?
0
suiagg
Badges: 12
Rep:
?
#11
Report 5 years ago
#11
Hi, I was looking through about paying back your student loans, and I was wondering if how much you paid back depended on the size of the loan. The website said that if you made £25000 a year for example, you only pay back £30 a month, but if I were to get a large maintenance loan on top of the £9000 loan a year, it would take over 100 years to pay it all back at that rate. So I was wondering if the amount you paid back depended on the amount you owed, as otherwise I don't understand what the government gets from giving the money if you don't pay it all back.

Also, the maintenance loan depends on your household income, but is that just from working or does it take into account things like benefits and dla? We have a fairly decent household income including all that, but for several reasons our outcome is quite substantial, and so a larger maintenance loan would be preferable.
0
Becciilouisex
Badges: 4
Rep:
?
#12
Report 5 years ago
#12
Hi everyone!I've decided during my Christmas break on my second year of uni, to drop out. It's a long story as to why but basically, myself & my flat mates from my previous year accumulated a lot of debt and I was forced to have to pay it all (£1000) and had to borrow £500 from family therefore I couldnt travel to uni, missed all of my first term and next month I have to pay my family back leaving me with no travel money again.I am due to start my second term tomorrow (and receive my loan) and I am going in to make an appointment with student services to discuss dropping out. My question is, once I receive my maintenance loan & grant, will student finance take that money straight back or will it just be added to the money I owe when I start my repayments? As obviously the money is for students and I will not be studying but I private let and still have rent and bills to pay and need food! I've been applying for jobs but no luck as yet and obviously I'm worried that the loan will be taken out and I'll be left homeless. Thanks in advance
0
Zango11
Badges: 15
Rep:
?
#13
Report 5 years ago
#13
Hello,

I have just 2 short questions. After I graduate, I will only start to repay my student loan after I earn more than £16000 as I'm a student from Northern Ireland, although I study in England. Do these payments automatically start when I first get paid or do I have to inform someone of this?

Thanks
0
Nicholas Dock
Badges: 0
Rep:
?
#14
Report 5 years ago
#14
(Original post by Charliefen)
Hi, in 2012 we were told that the amount you have to earn before repaying would go up as annual income increases, so the £21,000 should be higher by the time we finish university, is that correct? As it does seem unfair that they are thinking of freezing the amount again, meaning we will have to pay back more than people back then. To be completelt honest, £21,000 isn't as good of a wage as it was back then. I also think it should increase due to the fact that grangs have been scrapped, it is starting to seem like they are just picking on the poorest students.
Hi There.

Students who started university before 2012 will be classed as having a plan 1 loan. the current threshold for repayment for that is currently £17335 and subject to change when the new tax year begins on 6th April.
Students who started studying after 2012 and received funding from SFE or SFW will be classed as plan 2 and the threshold is £21000.
Again this could be subject to change in the future

Thanks
0
Nicholas Dock
Badges: 0
Rep:
?
#15
Report 5 years ago
#15
(Original post by Alex024)
I graduated last year and after some postal issues I've been sent the declaration I need to fill out for repayment since HMRC can't match my records. There are two forms, living in the UK or living overseas.

I'm currently on a masters programme abroad (in the EU) but the overseas form is worded in a way that declares me resident in that other country.

This is a major issue. I'm applying for PhDs back home in the UK and I've been assessed as a home student (but my funding applications are still pending on the basis of home status). If I'm not resident in the UK for 3 years prior to starting the PhD then I'm classed as an EU student and not eligible for the full amount.

Obviously this seems ridiculous that I could be classed as EU when I'm a UK citizen abroad temporarily for study.

If I declare to student finance that I'm studying abroad and that info is passed to HMRC is that going to affect my home status for PhD funding (either through the university or the research council)? I obviously still have a UK home address.
Hi There,

If you are currently living overseas studying your masters programme and have entered repayment, you would be expected to complete the overseas assessment form to let us know how you are supporting yourself while abroad. This will not affect your application for further funding when you return to the UK.
0
Duncan Gracie
Badges: 1
Rep:
?
#16
Report 5 years ago
#16
(Original post by Zango11)
Hello,

I have just 2 short questions. After I graduate, I will only start to repay my student loan after I earn more than £16000 as I'm a student from Northern Ireland, although I study in England. Do these payments automatically start when I first get paid or do I have to inform someone of this?

Thanks
Hi

If you go into paid employment, your employer will calculate and deduct student loan repayments from your salary. HMRC will tell your employer to start making deductions but it's also a good idea to mention this to your employer when you start. In fact, your employer will probably ask. If you become self employed, you will need to complete a tax return and indicate you are repaying your loan. You'll pay your deductions directly to HMRC.
0
Nicholas Dock
Badges: 0
Rep:
?
#17
Report 5 years ago
#17
Hi There,

If you receive funding from the student loans company then you can certainly repay at any point if you are in a position financially to do so.
You can login to the website www.studentloanrepayment.co.uk and make payment using debit/credit card or you can call up and speak to advisor on 0300100 0611 and make payment that way.
If you no longer required the funding after applying for it, you can call SFE on SFE - 0300 100 0607 and you can cancel the application.

Thanks




(Original post by Val17)
Hi,
I'm going to apply for student finance as I'm starting university in September.
I have saved up some money this year and at any point in my studies my parents might also get the opportunity to help me repay my student debts so far.
How does repayment work? Can I repay before the end of my studies, in one go? And if I can get private finance for, let's say, my third and fourth years, can I stop receiving student funding for these years if I give a warning early enough?
If you could please explain how this works, it would be very appreciated, thank you.
Valentine
0
Nicholas Dock
Badges: 0
Rep:
?
#18
Report 5 years ago
#18
Hi There,

In regards to '' is it a mistake'' I cant answer that as I never carried out your assessment for entitlement BUT if you do receive the money and it's no longer required then you can certainly pay the money back straight away by visiting the website www.studentloanrepayment.co.uk and pay back by using debit/credit card.
If you received the money and it was required then it would just go onto your overall student loan balance if you have received previous funding and you would repay back after you have graduated and earning over the threshold.
Please keep in mind though that interest begins to accrue from the moment you receive your payment of student loan.

Thanks


(Original post by Gary-_-H)
Hello, thanks for taking the time to learn about my problem

A little bit of background: I started Uni in 2014/15 academic year and took temporary leave early in Semester 2 on health grounds. Because of this the tuition fee for that year was halved.

Returning to Uni in this (2015/16) academic year from the start of Semester 2, the university does not require any tuition fee for this year. So, in my application to SF I put £0 on the tuition fee loan amount. This was upheld and agreed to on the declaration and such.

So, here's the thing: I'm now getting paid a tuition fee loan amount of around £4,500 directly to me. It won't be going to the University because they don't need it, I already have my maintenance loan and grant so I don't need it, and to be honest I don't know how this will stand in terms of repayment so I don't want it.

I suppose my question is if it does come to me is there a way to pay it straight back? Or if I did keep it, would it stack on top of my loan fees to be paid back AFTER university, or will they ask for it back as soon as they think I've been overpaid?
Is it a mistake they have made? Or should I just not worry about it and pay it off with the rest of my loans as usual after Uni?

Thanks in advance for any answers and/or advice, I really appreciate it
0
spookyskeleton4
Badges: 0
Rep:
?
#19
Report 5 years ago
#19
What do I need to do about my loan if I move abroad after graduating?
0
Nicholas Dock
Badges: 0
Rep:
?
#20
Report 5 years ago
#20
In regards to yourself , your query does seem to be account specific and for security reasons, I can't give out account specific.
I would advise you to call repayments on 0300100 0611 and discuss your individual case with an advisor.
It may be that you received a payment just before or after you left the course. if this happened and the university made us aware of your withdrawal, then any payment after that date would be deemed an over payment.
Please phone the number provided and an advisor will certainly be able to tell you were the balance has came from.

Thanks
(Original post by Samwin)
Hi All

Basically last year (december 2015) my uni recommended I leave university as my health was and still is on the decline Anyway, after lots of upset, mis information given and everything that goes with it, along with an unsuccessfull appeal and being accused of fraud by SFE (as my parents care for my younger severely autistic brother whom of which has multiple disabilities they couldn't afford to not make me pay rent; so I gave them the majority of my loan/grant, the rest going on books for the course and travel to and from college)

Anyway, with a now £780 debt to pay; I am really confused; as keep getting a letter from student finance telling me my loan application was successful O.o I am just finding them so confusing
0
X
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Feeling behind at school/college? What is the best thing your teachers could to help you catch up?

Extra compulsory independent learning activities (eg, homework tasks) (5)
4.9%
Run extra compulsory lessons or workshops (16)
15.69%
Focus on making the normal lesson time with them as high quality as possible (19)
18.63%
Focus on making the normal learning resources as high quality/accessible as possible (11)
10.78%
Provide extra optional activities, lessons and/or workshops (33)
32.35%
Assess students, decide who needs extra support and focus on these students (18)
17.65%

Watched Threads

View All