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When your maintenance loan goes into your bank account, how is it displayed? watch

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    £?000.00 or -£?000.00

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    (Original post by samzy21)
    £?000.00 or -£?000.00

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    Depends if you take it in terms or as a whole?
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    (Original post by samzy21)
    £?000.00 or -£?000.00

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    $8888888888888888888888888888888 888888888888888888888
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    (Original post by Ayaz789)
    Depends if you take it in terms or as a whole?
    I'll be getting it in terms

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    (Original post by samzy21)
    I'll be getting it in installments in each term

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    Then idk sorry
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    (Original post by samzy21)
    I'll be getting it in installments in each term

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    Assuming you arent in your overdraft it's just £000000+, your bank will treat it like a normal bacs transfer.
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    (Original post by Ayaz789)
    Then idk sorry
    What about as a whole?

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    (Original post by samzy21)
    £?000.00 or -£?000.00

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    It's a credit. How does money you receive normally appear?
    e.g. Lloyds has columns for In£ and Out£ - this would be in the In£ column.
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    (Original post by samzy21)
    What about as a whole?

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    Even if you get it as a whole they give a few thousand each term
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    (Original post by jneill)
    It's a credit. How does money you receive normally appear?
    e.g. Lloyds has columns for In£ and Out£ - this would be in the In£ column.
    like £?00.00 but won't it appear with a - if it has to be repaid?

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    (Original post by samzy21)
    like £?00.00 but won't it appear with a - if it has to be repaid?

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    It's a credit. It's money into your account.

    And then later, when you've got your degree and started working you start to repay it via your employer's monthly (or weekly) payroll. The repayments don't come out of your bank account - they are taken from your pay by your employer.
    http://www.studentloanrepayment.co.u..._schema=PORTAL

    Unless you choose to make additional repayments to pay it off early - but that's entirely voluntary.
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    (Original post by jneill)
    It's a credit. It's money into your account.

    And then later, when you've got your degree and started working you start to repay it via your employer's monthly (or weekly) payroll. The repayments don't come out of your bank account - they are taken from your pay by your employer.
    http://www.studentloanrepayment.co.u..._schema=PORTAL

    Unless you choose to make additional repayments to pay it off early - but that's entirely voluntary.
    So in my account, the loan won't be an overdraft?

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    (Original post by samzy21)
    So in my account, the loan won't be an overdraft?

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    no.

    Overdrafts are things from your bank. This is from the government - or, more correctly, the Student Loan Company. It's completely different. It also doesn't directly affect your credit rating.
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    That's good to hear. Thanks for your help

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    (Original post by jneill)
    no.

    Overdrafts are things from your bank. This is from the government - or, more correctly, the Student Loan Company. It's completely different. It also doesn't directly affect your credit rating.
    That's good to hear. Thanks for your help

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    (Original post by samzy21)
    That's good to hear. Thanks for your help

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    No problem
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    -£ is only money that has gone out of your account. So, I had £203 go out of my account last night, which means it shows as -£203. Whereas when I've got money that goes in on Tuesday, it'll show as £307.
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    (Original post by jneill)
    No problem
    Sorry. One last question. Will I need to speak to my bank to allow the large payments or will they automatically go to my bank account without any problems?

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    (Original post by samzy21)
    Sorry. One last question. Will I need to speak to my bank to allow the large payments or will they automatically go to my bank account without any problems?

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    No it's no problem for them. Do you have a Student Account? (It's not required but likely to be advantageous)

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    (Original post by samzy21)
    Sorry. One last question. Will I need to speak to my bank to allow the large payments or will they automatically go to my bank account without any problems?

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    Banks literally only block payments that look suspicious amounts or activity that isnt normal for you account, a student loan certainly wont be
 
 
 
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