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    help, my loan is totally confusing me!!

    i had a letter of the student loan company saying i will receive £3070 loan.
    but i had another letter from student finance direct saying that i would get £4095!!
    the £3070 is the basic 75% non income accessed loan but i dont know why id get another £1025 because its not a grant and my parents have a high income. this letter from student finance direct was the final assessment letter so i dont understand why i have an extra £1025??????

    i know i get an extra £73 cos my course is longer

    ne one have ant ideas?? thanx xxxx
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    I don't know, sounds odd. Write to them/phone them and ask.
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    (Original post by sassychick)
    help, my loan is totally confusing me!!

    i had a letter of the student loan company saying i will receive £3070 loan.
    but i had another letter from student finance direct saying that i would get £4095!!
    the £3070 is the basic 75% non income accessed loan but i dont know why id get another £1025 because its not a grant and my parents have a high income. this letter from student finance direct was the final assessment letter so i dont understand why i have an extra £1025??????

    i know i get an extra £73 cos my course is longer

    ne one have ant ideas?? thanx xxxx

    £3070 is the 75 % that everyone is entitled to,
    £1025 is the 25 % that goes on the amount of monies declared ABOVE the upper threshold for no fee support.
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    (Original post by Expression)
    £3070 is the 75 % that everyone is entitled to,
    £1025 is the 25 % that goes on the amount of monies declared ABOVE the upper threshold for no fee support.

    please explain the 25% bit. i thought that the 25% is income accessed so if parents earn more than a certain amount of money you dont get any of the 25%. im sooo confused!!!
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    has ne one else had the letters from the student loans company and student finance direct telling you how much money you are getting? did the amount from slc tally with the amount on the student finance direct form???

    please someone must be able to help me
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    (Original post by sassychick)
    has ne one else had the letters from the student loans company and student finance direct telling you how much money you are getting? did the amount from slc tally with the amount on the student finance direct form???

    please someone must be able to help me
    The best thing to do would be to contact the people on the head of the letters which you have recieved and request that they explain EXACTLY what you situation is. Don't let them get you off the phone until you know exactly what the situation is.
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    (Original post by sassychick)
    please explain the 25% bit. i thought that the 25% is income accessed so if parents earn more than a certain amount of money you dont get any of the 25%. im sooo confused!!!
    Yeah no problem.

    Remember back to when you filled in your Financial Support Form, that huge thing that looks scary.

    It's clear that you went for the income-assessed bit of it, seeing as we are talking about the earnings of your parents.

    There is are upper (around £32,000) and lower (around £21,200) thresholds where either:

    a) Their earnings are under the lower threshold, your parents don't have to pay any tuition fees, happy days, you'll also get the max loan, guarenteed.

    b) Their earnings are between the upper and lower thresholds; and in this event, parents have to pay some proportion of the tuition fees; but you are guarenteed max loan again.

    c) Their earnings sit bang on the upper threshold for no tuition support - and so they have to pay the full tuition fees but you'll get the maximum loan.

    d) Their earnings are above the upper threshold - so as well as getting no tuition fee support, the LEA will continue taking away the last 25 % of the loan (£1075), at some rate (£1 in every £6 over the upper threshold seems familiar).


    Now your parents might have a high income, but clearly not so high that it's taking away money from your student loan. I assume therefore that your parents are having to pay some but not all of your tuition fees for the year.

    The key point:

    When the SLC decide how much of the income-assessed part of the student loan you are entitled to - they look to see if your parent's income is over the upper bound for tuition fee support, if it is, then they take away some of your loan related to the amount over this upper threshold they earn.
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    (Original post by Expression)
    Yeah no problem.

    Remember back to when you filled in your Financial Support Form, that huge thing that looks scary.

    It's clear that you went for the income-assessed bit of it, seeing as we are talking about the earnings of your parents.

    There is are upper (around £32,000) and lower (around £21,200) thresholds where either:

    a) Their earnings are under the lower threshold, your parents don't have to pay any tuition fees, happy days, you'll also get the max loan, guarenteed.

    b) Their earnings are between the upper and lower thresholds; and in this event, parents have to pay some proportion of the tuition fees; but you are guarenteed max loan again.

    c) Their earnings sit bang on the upper threshold for no tuition support - and so they have to pay the full tuition fees but you'll get the maximum loan.

    d) Their earnings are above the upper threshold - so as well as getting no tuition fee support, the LEA will continue taking away the last 25 % of the loan (£1075), at some rate (£1 in every £6 over the upper threshold seems familiar).


    Now your parents might have a high income, but clearly not so high that it's taking away money from your student loan. I assume therefore that your parents are having to pay some but not all of your tuition fees for the year.

    The key point:

    When the SLC decide how much of the income-assessed part of the student loan you are entitled to - they look to see if your parent's income is over the upper bound for tuition fee support, if it is, then they take away some of your loan related to the amount over this upper threshold they earn.

    thanx for explaining it to me, i understand it but i went on the slc calculator thingy and entered parents income and it sed i would only receive £3050, so im thinking that they've made a mistake and given me extra money!! which i dont mind but i gotta pay it back! thanx laura xxx
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    (Original post by sassychick)
    help, my loan is totally confusing me!!

    i had a letter of the student loan company saying i will receive £3070 loan.
    but i had another letter from student finance direct saying that i would get £4095!!
    the £3070 is the basic 75% non income accessed loan but i dont know why id get another £1025 because its not a grant and my parents have a high income. this letter from student finance direct was the final assessment letter so i dont understand why i have an extra £1025??????

    i know i get an extra £73 cos my course is longer

    ne one have ant ideas?? thanx xxxx
    I haven't even got my letter yet. They are taking ages :mad: .
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    Sorry to be really dull but is the extra £73 if your course is longer in weeks in the year or longer as actual years it takes to completes? Cause I'm confused as to why I've been given it this year.
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    (Original post by -Emmz-)
    Sorry to be really dull but is the extra £73 if your course is longer in weeks in the year or longer as actual years it takes to completes? Cause I'm confused as to why I've been given it this year.
    Longer in terms of weeks involved. They use the dates you give them.
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    But I'm sure I put in the same dates as last year and I didn't get it then :confused: do you think I should contact them or just leave it? I know it's only £73 but I don't wanna get in trouble!
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    When will everyone know what loan they will get? I'm still waiting.
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    Confusion Over!!!

    Apparently there has been a big mess involving all the loans. i have been given an extra £1025 for no reason so maybe you have been mistakenly awarded £73. the LEAs are trying to sort it out and sending out new forms, which is maybe why they are taking ages to send you confirmation of loan amount. you can either wait of ring your LEA.
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    (Original post by sassychick)
    Confusion Over!!!

    Apparently there has been a big mess involving all the loans. i have been given an extra £1025 for no reason so maybe you have been mistakenly awarded £73. the LEAs are trying to sort it out and sending out new forms, which is maybe why they are taking ages to send you confirmation of loan amount. you can either wait of ring your LEA.
    Aaaah I see, thanks for letting me know I just thought it was rather odd I'd got it!
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    i had exactly the same as the person who opened this thread. i dont think people will be given extra, i think the second letter that people receive was printed incorrectly as it doesnt make sence what they have written. dont panic people, we'll just have to wait and see . im getting my accommodation and tuition fees paid for by my parents and i dont think that i would spend any more money from the loan if they gave me more money, its just annoying if i have to have the expensive of paying off a loan for more that i needed/was intitled to!
 
 
 
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