Ric Flair Posted 2 December 2008 Posted 2 December 2008 My last payment is this month!As for going abroad this could be one of those university myths that floats around but I heard if you leave the country for 5 years or more your loan gets written off... I take it you're on a tidy bunce then to have done that in about 5 years? Good work pal!
The People's Hero Posted 2 December 2008 Posted 2 December 2008 James is on the sort of money where he can take his girlfriend to a spa. I'm on the sort of money where I don't have a girlfriend. And if I did, I'd pawn her.
coale39 Posted 2 December 2008 Posted 2 December 2008 I heard after 30 years, you dont have to pay it back! So you might as well pay the minimum regardless of the interest, right?
The People's Hero Posted 2 December 2008 Posted 2 December 2008 I get some of my money as dividends and bonuses etc rather than salary, so that doesn't get taken at source and I usually get stung at the end of the year for that. The tax year that is.
Alexikokopops Posted 2 December 2008 Posted 2 December 2008 I have no idea how it works. All I know is they fleece me of £90 a month. Does that mean some of it's interest and some of it's paying the loan back? ****s sake.
Stevosevic Posted 2 December 2008 Posted 2 December 2008 I thought you don't start paying it off until you start earning over 15k?
The People's Hero Posted 2 December 2008 Posted 2 December 2008 I have no idea how it works. All I know is they fleece me of £90 a month. Does that mean some of it's interest and some of it's paying the loan back? ****s sake. Think of the loan plus the interest as a single entity. You're paying £90 of THAT back. In fact, don't think of it at all.
Alexikokopops Posted 2 December 2008 Posted 2 December 2008 I thought you don't start paying it off until you start earning over 15k? Check Milky's post. You pay off 9% of what you earn over £1250 a month. £1250 a month is £15000 a year. So yeah, you don't pay anything until you earn over 15k I'm paying nearly £50 a month right now. It's linked to inflation though so it's dropping.They deduct 9% of your income in excess of £1250 per month. So if you earn £1500 a month (18k a year), that's 9% of £250 so £22 per month. Without voluntary repayments the total just keeps on growing.
Stevosevic Posted 2 December 2008 Posted 2 December 2008 Check Milky's post. You pay off 9% of what you earn over £1250 a month. £1250 a month is £15000 a year. So yeah, you don't pay anything until you earn over 15k
RowlattsFox Posted 2 December 2008 Posted 2 December 2008 I've not started paying mine off yet, I really need to get a full time job
Guest Posted 2 December 2008 Posted 2 December 2008 I rang em the other day to find out how much I still owed and apparently I should be student loan free by next August. An extra 100 or so quid in my pocket from then on
Lillehamring Posted 2 December 2008 Posted 2 December 2008 My last payment is this month!As for going abroad this could be one of those university myths that floats around but I heard if you leave the country for 5 years or more your loan gets written off... oh, yeah, like that's gonna happen
Lillehamring Posted 2 December 2008 Posted 2 December 2008 But how do I pay? Like, contact them with the bank details I have from my new country and they take it internationally?Or, like, transfer money home for it to be paid from a bank account in the UK? i guess you can do either.
Lillehamring Posted 2 December 2008 Posted 2 December 2008 James is on the sort of money where he can take his girlfriend to a spa.I'm on the sort of money where I don't have a girlfriend. And if I did, I'd pawn her. um, yeah, that's how you spell it.....
Benji Posted 2 December 2008 Posted 2 December 2008 London University: Year 1 - Tuition Fees £3000 - Maintenance Loan - £4500ish Year 2 - Tuition Fees £3070 - Maintenance Loan - £4500ish Year 3 - Tuition Fees £3145 - Maintenance Loan - £4500ish Around £23,000 borrowed Fk Off!
Daggers Posted 2 December 2008 Posted 2 December 2008 As for going abroad this could be one of those university myths that floats around but I heard if you leave the country for 5 years or more your loan gets written off... No. If you leave the country to return at a later date you will discover a letter being delivered by a bailiff as soon as you rejoin the 'system'. As soon as we registered for council tax, started work and got a bank account the computers fired into operation. The debt never gets written off, you never get forgotten. I heard after 30 years, you dont have to pay it back! So you might as well pay the minimum regardless of the interest, right? Even if this was true, which it isn't, work out the difference between paying it all off now and paying a minimum of £600.00 p/a for 30 years. It may hurt but it is best to pay it off as soon as possible unless you are going to hit retirement soonish...being old is your only opt out. More than ever people should be working out the pros and cons of going to Uni - starting your life with American levels of debt is stupid if all you did was a science degree, art or media studies.
Jon the Hat Posted 2 December 2008 Posted 2 December 2008 Christ. The £50k per child my sisters father in law put in trust looks like a good start point now...
Benji Posted 2 December 2008 Posted 2 December 2008 More than ever people should be working out the pros and cons of going to Uni - starting your life with American levels of debt is stupid if all you did was a science degree, art or media studies. I wait with great anticipation of another you've crossed the line debate
Daggers Posted 2 December 2008 Posted 2 December 2008 I wait with great anticipation of another you've crossed the line debate I'm not criticising the courses - just the average salaries of the graduates.
Jon the Hat Posted 2 December 2008 Posted 2 December 2008 I'm not criticising the courses - just the average salaries of the graduates. The question is do you make courses which deliver a career on a plate more expensive to fund stuff which is merely interesting...
Finnegan Posted 2 December 2008 Author Posted 2 December 2008 I wonder if you could actually be deported for student loans. if I moved to another country (not ACTUALLY considering this, btw) and never came back, how could they chase you up?
Daggers Posted 2 December 2008 Posted 2 December 2008 The question is do you make courses which deliver a career on a plate more expensive to fund stuff which is merely interesting... Courses should be free.
Benji Posted 2 December 2008 Posted 2 December 2008 I'm not criticising the courses - just the average salaries of the graduates. Liar, I knew all along you were subjectist
Alexikokopops Posted 17 December 2008 Posted 17 December 2008 UPDATE The student loan interest rate usually changes annually in Sept, and this year it dropped from 4.8% to 3.8%. Yet now, for post '98 loans, it's now been cut again to 3%. Why the cut? Its rate’s based on the rate of inflation (RPI) every March. Yet the small print says 'if the ave. of 11 major banks' base rate' plus 1% point is lower than this RPI it should drop to that. And for the first time EVER it has. Will it drop more? Now the figure's under the threshold, if base rates drop again it's likely the student loan rate will drop further
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