Student Loans



mackem1979 said:
No, I’m asking if there’s a way to delay or reduce minimum payment, if it’s not possible then fair enough.

I’m also 45 so this was a part time thing.
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There is no way. I was in the same boat with a 24+ loan and will finish paying next month.
Houghtoner said:
Got about £1,100 left on mine. Last month nearly £200 came off my pay towards it. Be a good day when I’ve got shot of it.
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They will move you on to DD soon. I did mine on a low pay month and they set that as the amount.
 
mackem1979 said:
My repayments are due to start in a few months but going to struggle to pay what they are quoting, I started the degree before the interest rate hikes etc so it’s bad timing with mortgage renewals! I’m on a decent wage but not much flexibility with outgoings so wonder if anyone has experience or advice to delay or reduce payments? TIA
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You can't reduce them unless you earn less.
 
DBStar said:
There is no way. I was in the same boat with a 24+ loan and will finish paying next month.

They will move you on to DD soon. I did mine on a low pay month and they set that as the amount.
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Yeah I’m moving onto it in April. So paying about £150 most months but it’ll go to £64.
 
samsafc said:
I was an idiot and done a postgrad too. The loan doesn’t get combined so pay £175 a month to each loan, it pisses me off every time I look at my pay slip 🤣
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The post grad loan is a terrible deal, extra money on top to pay back on top and you repay on minimum wage.

We paid my wife's PhD ourselves as it was such a crap deal.
Have you checked your balance online? Mine keeps going up and up.
 
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samsafc said:
What a load of shite.
How can something that increased price by 200% over night due to a Tory government still a good deal?
Degrees are been undervalued as jobs that should never need a degree are now expecting one.
Nursing is a prime example, it’s the perfect job to be done as a 3/4 year apprenticeship. The majority of a nurses degree is spent on placement where they commit to full time hours unpaid. It’s a f***ing disgrace and the system exploits people for free labour whilst the universities are charging them £9k a year to complete the course.
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On average, it is still a good deal for students as they will still earn more than if they weren't graduates, even when you factor in the cost. Don't disagree that £9k tuition fees was a disgrace and the financial burden on students shouldn't be so high.

But we don't create enough graduate quality jobs in this country at all. Excellent thread on it here:

https://twitter.com/x/status/1718244492933816529
 
AndrewP said:
The post grad loan is a terrible deal, extra money on top to pay back on top and you repay on minimum wage.

We paid my wife's PhD ourselves as it was such a crap deal.
Have you checked your balance online? Mine keeps going up and up.
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Never looked, went and worked in Australia for 3 year and paid fuck all. Soon as I came back just saw it coming off me pay slip
 
jonnie_makem said:
On average, it is still a good deal for students as they will still earn more than if they weren't graduates, even when you factor in the cost. Don't disagree that £9k tuition fees was a disgrace and the financial burden on students shouldn't be so high.

But we don't create enough graduate quality jobs in this country at all. Excellent thread on it here:

https://twitter.com/x/status/1718244492933816529
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I don’t understand how that can be true. Jobs which are described as graduate simply shouldn’t need a degree imo. Universities should be harder to get into and only top academic jobs should need a degree. Majority of jobs are learned in the workplace not the class room.
AndrewP said:
My payments won't even cover the interest until I earn about £75kpa.

It's never going to be paid off. 😂
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Where does the money even come from to pay the universities and maintenance loans etc? They have to be making a loss in the long run
 
Not much help. But when I was doing work for the IR and C&E on becoming HMRC, updating the student loan IT hardware, we were told that thousands of ex students were still repaying long after it was paid off. Also said they had no way of notifying those concerned but wouldn’t explain why. We suspected that they couldn’t actually identify those affected.
 
jonnie_makem said:
On average, it is still a good deal for students. But that has gradually been eroded over the last decade (probably longer than that...). None of this is an issue with Universities or even really how it is funded, more to do with the economy and the labour market.
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I think we could do things cheaper so that loans didn’t have to be so large.

The amount of duplication in the sector is painful.
 

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