Hi guys i thought i would explain my absence in rating all you guys in my CoT - ive had a lot of fam...
Hi guys i thought i would explain my absence in rating all you guys in my CoT - ive had a lot of family problems over the past month which i dont want to talk about.
Member since:26.08.2001
Reviews:96
Members who trust:19
I graduated from university in may 2000 so i know what it is like for everyone who is on their way thinking how am i going to survive and pay bills.
Well i 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 me who i would like to receive this money, i 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 University i opted to have the money all in one go, no use waiting for it when it could be earning interest. I put one check into a high interest Tessa account to earn some money on that. I could afford to do this as i had got a job working in a bingo hall where i was earning £4.30 per hour and i did about 20 hours a week and some weekends and days off from Uni.
Now i have graduated and got myself a job i got a letter from the loans company asking how much i was earning a year so they could sort out the re-payments, it turned out that i missed the earning 18k a year mark so it has been deferred for another year before i start to pay it back. They worked it out that i would end up paying about £100 a month back which is £25 a week, i thought it sounded a lot at first.
With the money which i put into a tessa account i earned £700 which bookd me a holiday with spending money with a friend to Greece and i had the time of my life......
How helpful would this review be to a person making a buying decision? Rating guidelines
-I mean, you'll probably NOT have known about this.
PS Once you apply to your LEA then you get to apply to SLC as well.
NESMA 24.09.2001 02:55
Just to let you know, thye've made the forms a bit more difficult now. This is in aid of preventing fraud. You need to apply to your Local Education Authority with one big form (booklet). This is new as from term starting 2001, so you'll probably have know about that.
moose 23.09.2001 23:15
Good op! I owe the SLC about £5k :-( But the interest rates are so low!
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
LindsxDx 19.03.2007 (19.03.2007)
·
Read review
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
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
Advantages: A student loan works in the same way as a loan with the advantage of lower interest rates- fluctuating with inflation rates. By and large a loan is easily obtainable as all students qualify for one. Disadvantages: The main and most annoying disadvantage is the amount of paperwork required to apply for a loan and the time it takes for the innefficient LEAS to go through them.
Sep 23rd, 2001
very helpful by (78%):
helpful by (11%):
somewhat helpful by (11%):
