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studant loan

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smo:

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--- Quote from: "Littledan" --- and whats it invole?


dan
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A lifetime debt

Unfortunately :(
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Not true! We had the lady from huddersfield college at our daughters school and she told us that if in 25 years you are still not earning enough to pay it back it is written off. I realise 25 years is a long time but it still would make most people less than 50.
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Sadly for those of us who did HE before 2006 we are lumped with them until 65yrs old, thats a fair few yeasrs more than the new rule of 25 yrs!  :evil:

kuli1985:
Student loans are working differently from now 2006/2007 academic year.  You can apply for a whole different amount of loans, burseries and grants..some are repayable and others are not.  If you contact your Local Education Authority (LEA) then they will give you all the forms that you need and will tell you what you are exactly entitled to.  You dont start to pay back any loans until you are earning over £15000 and then its only £5.21 per week.

Range Rover Blues:
Still a tax on education, which should be free.  If I'd had to pay for my degree I'd be demanding my money back, it took me longer to get than I spent using it, thanks to Tony B. Liar and his cronies.

Some training you can get a carreer dvelopment loan for, I did this for my instructor training.  My advice, decide how long it will take you to get qualified and double it before you complete the forms, failing an exam is not a rerason for defering the payments :o

MudRat:
The rate of interest on a loan is minimal, its actually worth taking one out and putting it in a high yield long term account. You only pay it back when ur earning more than 18,000 grand or somewhere in that region!

muddyjames:
I dont know anything about student loans as I didnt go to uni (or college) and I am one of the few I know of people my age with no massive debt over my head. But what I have heard it is prob a good idea to find a job first and get them to pay for your uni course. You maybe tied into the company for x number of years but at least you will be paid for going to uni instead of ending up with a loan. One mate is predicted to end uni with a £35-£40k loan when she finishes.  :shock:

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