Jump to content

Things you want to share with P&B


Ad Lib

Recommended Posts

My mum's just shown me a letter I received from the student loans company. It outlines all the payments I have to one day repay, which is fine. However, it also has 43 monthly interest charges going back to September 2010 when I started 2nd year (how can they charge you interest during three years of university when you haven't even finished receiving payments, never mind paid it back?) and to make it worse the amount of interest rises every month.

The last month on it has the interest at over £20, and rising sharply. This was April's one so how much interest they're charging now is anyone's guess. I'm hoping this is a big mistake, because it's absolutely fucking criminal if it isn't. I already owe them over £600 in interest as of April apparently, and if this system is correct and the interest goes up each month it'll ruin me financially. I'll never be able to pay this back

Edited by Guest
Link to comment
Share on other sites

My mum's just shown me a letter I received from the student loans company. It outlines all the payments I have to one day repay, which is fine. However, it also has 43 monthly interest charges going back to September 2010 when I started 2nd year (how can they charge you interest during three years of university when you haven't even finished receiving payments, never mind paid it back?) and to make it worse the amount of interest rises every month.

The last month on it has the interest at over £20, and rising sharply. This was April's one so how much interest they're charging now is anyone's guess. I'm hoping this is a big mistake, because it's absolutely fucking criminal if it isn't. I already owe them over £600 in interest as of April apparently, and if this system is correct and the interest goes up each month it'll ruin me financially. I'll never be able to pay this back

They collect the repayments proportionately to your wage. I don't earn alot of money and thus far they have collected a total of £15 from me on about £8000 I believe. This is now my fourth year out of education. Doesn't affect your credit rating whatsoever so don't stress too much.

Link to comment
Share on other sites

You have to earn over £16910 a year (or make the equivalent monthly wage, e.g. through overtime) for it to be deducted from your wages.

The interest is linked to inflation, currently 1.5% (approx).

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678642&_dad=portal&_schema=PORTAL

It also gets written off after35 years.

This should clear everything up;

http://www.saas.gov.uk/my_money/loan_repayments.htm

Edited by DA Baracus
Link to comment
Share on other sites

Cheers guys.

It must be a mistake as the site says interest is in line with inflation. £20.17 a month and rising = not inflation. Possibly an admin error, and if it's not I'll purposely never earn more than 16k for the rest of my life just to spite them.

Link to comment
Share on other sites

Cheers guys.

It must be a mistake as the site says interest is in line with inflation. £20.17 a month and rising = not inflation. Possibly an admin error, and if it's not I'll purposely never earn more than 16k for the rest of my life just to spite them.

They'll rue the day they crossed you mate :lol:

shakingfist.gif

Hope you get it sorted.

Link to comment
Share on other sites

A work colleague of mine has just spent a good five minutes explaining how, should we become independant, dvds and the like will have to change their language selection to include 'Scottish' as well as English. Her reasoning being, "I speak Scottish. If I spoke *adopts Cockney accent* 'like this', I would speak English. I don't, I speak Scottish." :huh:

She's a 32-year-old married mother of two by the way.

You should have punched her square in the dish.

Link to comment
Share on other sites

A work colleague of mine has just spent a good five minutes explaining how, should we become independant, dvds and the like will have to change their language selection to include 'Scottish' as well as English. Her reasoning being, "I speak Scottish. If I spoke *adopts Cockney accent* 'like this', I would speak English. I don't, I speak Scottish." :huh:

She's a 32-year-old married mother of two by the way.

:lol: Tremendous, please make sure she is in the audience for the next Leaders debate. It'll put the 'Yes' campaign ahead by miles.

Edit to add: and next time, if you can really be arsed arguing with the simpleton, point out that there aren't currently options for Canadian, Australian, New Zealand ,,,, in the language selection!

Edited by Swarley
Link to comment
Share on other sites

A work colleague of mine has just spent a good five minutes explaining how, should we become independant, dvds and the like will have to change their language selection to include 'Scottish' as well as English. Her reasoning being, "I speak Scottish. If I spoke *adopts Cockney accent* 'like this', I would speak English. I don't, I speak Scottish." :huh:

She's a 32-year-old married mother of two by the way.

profile_picture_by_u_wot_m8-d534u82.jpg

Link to comment
Share on other sites

Cheers guys.

It must be a mistake as the site says interest is in line with inflation. £20.17 a month and rising = not inflation. Possibly an admin error, and if it's not I'll purposely never earn more than 16k for the rest of my life just to spite them.

Move abroad and earn a fortune, and don't bother telling them.

Link to comment
Share on other sites

Cheers guys.

It must be a mistake as the site says interest is in line with inflation. £20.17 a month and rising = not inflation. Possibly an admin error, and if it's not I'll purposely never earn more than 16k for the rest of my life just to spite them.

Well it would rise every month, even with the same interest rate, as it is now being calculated on an higher balance (it will include the previous month's interest!)

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...