Advantages: cheap way of geting funds whilst studying Disadvantages: extremely poor serivces
Most people, if not a student or been a student will know about and heard of the student loans company so I wont go in to too much details about their establishment. Basically they are a government funded organisation that provide finance to University and higher educational students. They provide you with a very cheap interest loan to help you through your studies and support yourself.
Being a student is extremely difficult I found and it wasn't ... ...I was supplied with a student loan to help me for that period.
Since I left university and started empolyment I have been making contributions to my student loan.
Basically when you start working and if you earn over a certain amount you have to make contributions and pay them back the money you borrowed during your studies.
Thats the disapointing bit. Working hard and doing extra hours to pay them back. Basically I left univerity in December ...
coolchanty 15.05.2003
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Ciao members have rated this review on average: very helpful Review of Student Loan Company
Advantages: Knowledge gained, wider range of employability. Disadvantages: The money
...to get more education and work, they're gonna have to help out a bit more!
P.S
New students! Your student union will no doubt be carrying on the fight against tuition fees, join and make the government see sense, every little voice soon adds up to a big voice! ...
Emma1973 16.09.2001
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Ciao members have rated this review on average: very helpful Review of Student Loan Company
Advantages: Instant money, Availability to lend every year. Disadvantages: The fact that there is interest on it, A fear of getting a loan because of this.
The Student Loans Company in Scotland delivers their loans at a very decent rate to most of Britain and of course Northern Ireland. Any student taking up Degrees or almost any sort of Higher and further education is eligible.
Firstly, the process is simple to follow. When you have applied for higher education, the relative information will be passed between a number of places. When your LOCAL EDUCATION AUTHORITY (LEA) hears this, then you can become ... ...for a loan will usually amount to a smaller amount available, but a good amount nonetheless. If it is income assessed, you can be eligible for the maximum amount of 3888 pounds, or thereabouts.
The system is easy enough to follow, and once some correspondence has changed hands in the form of the application, you will find that on starting your course or thereabouts you will have the first cheque for your money. The money will arrive termly, in order ...
eaglesas 22.09.2001
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Ciao members have rated this review on average: very helpful Review of Student Loan Company
Advantages: They help to fund you through university Disadvantages: Terrible service after you graduate, a terrible system
...university life. Taking out a student loan was very easy. As I recall, I just had to have a short interview and fill out an application form, and that was it - regular payments were made into my account each term. The student loan system seems to change quite regularly, but I am part of the scheme where as soon as I earn over £10,000 per annum, student loan repayments are taken out of my wages automatically each month by my employer at the time, ... ...pass the payments onto the Student Loan Company at the end of the tax year. Quite a straightforward process, you might think...apparently not!
I graduated in 2001, and I never had any need to contact the Student Loan Company until recently. They sent me a statement for the 01/02 tax year ages ago, but I never received a statement for the 02/03 tax year until a month or so ago (a year since the last tax year ended!). I was shocked when it said that ...
cerysm 28.04.2004
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Ciao members have rated this review on average: very helpful Review of Student Loan Company
Advantages: Easy money, financial support when you can't really support yourself Disadvantages: Interest really mounts up, repayments swallow up payments for things that you should be considering after uni i.e. nice house, decent holidays
...I needed to get a student loan every year, and every year I took the maximum. I maxed out my overdraft facilities and took out a credit card too. Credit was thrown at me, despite the fact I was working minimum wage in the service industry and had no way of paying anything back. At the time I was very young and carefree, or is that foolish, I had no experience of budgeting for life in the real world. I genuinely thought that I needed that money to ... ...At the moment, the student loans company charge me £35 per month interest and take £10 per month from my wages. Although the interest rate is relatively low, I borrowed that much that the interest payments are huge. I can top this up with my earnings but what with the other responsibilities of adult life that I didn't really consider when I was 18, I can't contribute that much to my repayments. It has taken me all this time to make a dent in my overdraft ...
LindsxDx 19.03.2007
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Ciao members have rated this review on average: very helpful Review of Student Loan Company
Advantages: Its there for emergencies Disadvantages: How much you owe back
...wasnt sure about getting a student loan at first, the last thing i wanted to think about when i left University was how much money i owed to a company for the pleasure of being there. Anyway i talked it over with my cousin who is a lawyer and he basically told me that it was the cheapest loan you were ever going to get the A.P.R is next to nothing and what am i waiting for.
So i put my application form through and i was delighted when they asked ... ...opted for 3 times a year with the 1st loan, didnt want to see to eager to be taking someone else's money away from them. Withing 2 weeks the money had appeared in my bank account which was great as i had been into the bank and extended my over-draft. The form filling was really easy to do, all they wanted to know was bank account details and when you wanted the money. (If only grants were this easy to get hold of).
During my 2nd and 3rd year at ...
Rach_79 23.09.2001
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Ciao members have rated this review on average: very helpful Review of Student Loan Company
Advantages: The cheapest form of credit you can get (except for your parents), repayments only start once you earn £10k+ Disadvantages: Ultimately it is still a loan, and it does need repaying, also the forms are a pain - but it's the best you can get, and a degree is worth it
...forms and documents from the student loan company, but how many have actualy filled them out and returned them? Applying for a student loan of c£3,000 may seem scary and many parents will quake at the thought of their sons or daughters aged 18 or 19 being in debt. Equally many are overwhelmed by the questions asked on the form, however set aside an hour and fill them out - IT IS WORTH IT.
The Student Loan Company offer loans at an interest rate ... ...it's the cheapest source of student finance you can get.
I urge you all not to be put off going to university due to lack of finance, USE THIS LOAN - it makes sense, and repayment is just like tax, so lthough when you begin earning you'll have more deduction from your salary, you should have a better job due to your extra qualification. Also there is no need to repay until you earn over £10,000. ...
mchillb 11.09.2001
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Ciao members have rated this review on average: helpful Review of Student Loan Company
Advantages: easy way to get large amounts of money Disadvantages: charge interest whilst still doing degree
I am still doing my degree so its hard to comment on how they will treat me after graduation but i have had to deal with them on the phone.
I am in my 2nd year. I had a little trouble with my spring loan installment as foolishly i had the money going into a bank account that exceeded its annual deposits becuase of it being a tax-free savings account. I kept waiting and waiting for the money to go in so I rang up SLC. The woman on the phone seemed ... ...They looked up my records from my NI number. However they could not confirm if my bank account details were right or not due to me not supplying full details because of their security policy. At the time I thought they might have wrong bank details. In terms of conforming to the Data Protection Act, they certainly did fine with that.
I rang back later to back my a/c number and sort code and they did indeed have the right ones. After checking with ...
miss_d_bus 27.01.2004
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Ciao members have rated this review on average: helpful Review of Student Loan Company
Advantages: Low interest, they can't turn you down! Disadvantages: They know you have no choice, they ridiculous amount of debt I'm in!
I'm in my fourth year at uni now and looking for jobs. As a beginning teacher I'll be well into the threshold necessary before they'll take repayments back through my tax. I'm starting to wonder how the government gets away with charging me for wanting a decent career! it's not like I'll be reaping the financial reward of having a degree if I stay in teaching! At the same time, they're trying to encourage people into the profession! As far as the ... ...Apart from my very first payment, I've always got it on time and they've been helpful whenever I've phoned them, though they still haven't worked out that my uni has two campuses and so they appear to just send a random half to each campus so you have to check both for your cheque at the start of the year. I only know one person who has never had a payment on time! The point is, I think, that while there's no choice for students, unless your parents ...
Nomes 22.04.2003
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Ciao members have rated this review on average: helpful Review of Student Loan Company
Advantages: A Grand every term! Disadvantages: Bad Service
...I applied for my student loan last year as soon as I got the application form in the post, I didn't want there to be any problems, my first problem with the SLC is that they don't seem to do checks very well i.e. I got 5 letters stating I had provided the wrong national insurance number, and I sent them back with my NI number and also rang them to make sure they checked it in the system, later on I found out that they had put my NI number on the ... ...see anywhere else helping with student finance, but ther service could do with being a little better without as many problem, I don't know one person who hasn't had a problem! I suppose it depends on your LEA. good point is that the interest charged is very very minimal which all helps when it comes to paying it back. ...
tigger1430 20.05.2005
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Ciao members have rated this review on average: somewhat helpful Review of Student Loan Company
Advantages: Means of financing further education. Disadvantages: communication skills, aggressive and interest.
...warning about how friendly the student loan company (SLC) are when they are giving you money. BEWARE they may turn into nasty monsters with little communication skills and the errors they make will mean you have to pay money to them, including interest – by the powers of something supernatural it would seem. I’ve just finished on the telephone with them, after a very long wait in a queue. Then being directed to several different numbers. I finally ... ...on a yearly basis. The student loan company did not contact me to ask for any repayment at any time. Just one letter advising me that if I did not earn over £1,700 a month then I would need to defer the repayment. The first time I was aware of the need to repay the loan was via a pending county court judgement (CCJ). I was upset at this fact and contacted the SLC. They told me that because I had not deferred I owed them hundreds of pounds (I don’t ...
gogwat 15.01.2004
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Ciao members have rated this review on average: somewhat helpful Review of Student Loan Company
Advantages: Cheap loan Disadvantages: Run by idiots!!
2 years ago I agreed a monthly repayment plan with SLC and have rigidly stuck to it without missing 1 payment. Problem is I keep still getting letters from them threatening to take me to court and saying I am missing payments. Turns out their legal dept has a duplicate account for me. When I call them
up they apologise and promise to sort it out and I heard no more. Have had numerous letters of apologies from them but wasnt too bothered, as didn't ... ...got attachment of earnings order from county court threatening to imprison me if I didnt return. Am now really narked. Have loads of letters promising to sort and to delete duplicate acocunt, but apparently still nothing done. Even after they sent me a copy of letter to county court withdrawing action as they in error, have just had another letter saying i've not paid. Have also had one letter saying my agreement stands for 8 months as of June, and ...
spurs505 05.09.2006
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Ciao members have rated this review on average: somewhat helpful Review of Student Loan Company
Advantages: Cheap loan, APR next to inflation Disadvantages: Problems come after you graduate
I stared university in Sept '98 and immediately applied for a students loan, because of its low APR. This gave me the chance to invest the money in an ISA. I filled in the forms, which was time consuming, but easy, and within the first week I received my cheque, my first installment, out of three. The other two payments were made through BACS in January and April. In the second and third year, I had no problems with receiving my loan.
The problems ... ...working in Sept '01. They would only take payment, if your salary is more then £10,000. Hence from April '02 payments started, which were taken directly from my salary. After 1 yr, April '03 I expected a printed statment from them, informing how much I have paid. Its now November, and still I have not received anything. I have rung many times, and get the same answer that the Inland Revenue havent updated the Loans company. However the strange thing ...
onkar 24.11.2003
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Ciao members have rated this review on average: somewhat helpful Review of Student Loan Company
Advantages: None Disadvantages: Not enough money and bad service!!
...advice when dealing with the student loan company is make sure you send off all the paperwork on time and ring them a few days after you have posted it to make sure they have received it. You will be suprised how many things get "lost" in their office!!
The amount of money borrowed is very little, but do apply to your University access to learning fund. The student loan company has a "Hardship" fund too and you get a one off payment of 500 pounds ...
VickyJustVicky 26.04.2004
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Ciao members have rated this review on average: somewhat helpful Review of Student Loan Company
Advantages: CHEAP EASILY AVAILABLE Disadvantages: WHAT CHOICE FOR GRANTLESS STUDENTS
HOW MANY TIMES WILL THE S.L.C REMOVE THE DREADED £12 CHARGE FROM MY ACCOUNT....
ON THE LAST OCCASION I MOVED HOUSE AND DUE TO THE NEW TENANT OF MY OLD HOUSE BEING A BIT SLOW DELIVERING MY MAIL I GOT A LITTLE BEHIND ON MY REPAYMENTS...
ON FINDING THIS OUT I DULY PAID THE ARREARS ON MY ACCOUNT GAVE MY NEW ADDRESS AND THEN ASKED FOR A LETTER COMFIRMING THAT THIS HAD BEEN DONE AND FOR AN INDICATION OF THE DATE OF MY REPAYMENTS. THIS NEVER CAME..
EARLY ...
boncylad 20.04.2002
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Ciao members have rated this review on average: somewhat helpful Review of Student Loan Company
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