I return for my second year at university in September. Last week I got a letter telling me how much student loan I was entitled to this year, and how much fees I have to pay.
The letter said that I can get the same about of loan as last time, but this year I have to pay about £1000 extra in fees this year. Although slightly paniced at the big increase in money I have to pay out, I work things out so I can manage it. All was well.
On Friday I got my exam results. I passed everything and can return to uni in September.
“Things are going well…” I think to myself. The student loans company must be psychic, and want to piss me off. Because today I recieved another letter.
At first glance is just looked like they’d sent me the confirmation letter they’d already sent me, again. But on closer inspection I see that they’ve changed there minds. (Even though the previous letter said ‘FINAL’ on it.) They are reducing my loan by £500.
FUCK! FUCK! FUCK! FUCK! FUCK! The letter doen’t even come with an explanation. It just says that the letter takes the place of any already sent.
FUCK.
Sorry. Just needed to rant about the fucking Student Loans Company.
Well, can I join in the fun too??? Huh? Puh-lease???!!!
Ok, here I go:
I was writing my fiance’s checks last month. I made a $50 one for his student loan and a $300 one for our condo fees. He signed them and then accidently put them in the wrong envelopes. He called them both about the mistake. The condo company sent it back. The loan company cashed theirs. WHAT THE FUCK! Did it say Sallie Mae on the check??? No, it didn’t. It had the name of a condo association on it. Also, why would the bank allow them to cash it? What is this world coming to?
In that case, I have another one.
I had to drop out of college after one semester because my loan company decided to go on vacation in October. They didn’t process my spring semester loans until May. Since I didn’t have the money, I couldn’t continue.
I just received a “Final Notice” from one Federal Student Loan Company. I was pretty sure it was bullstuff, and upon opening it my precognition was confirmed. It was a come on for student loan consolidation. Bastards. I hate that kind of stuff.
Unfortunately, it’s come to the point where machines open a process payments. That’s how this can happen.
I went back to college FT at the beginning of a fall semester on 1995. Was awarded $5000 in financial aid for that semester.
So, at the beginning of the following spring semester, I was notified that I was awarded $10,000 for 1997 (meaning, that calendar year, the spring and fall semesters).
I waited and waited for my check. Finally, come to find out that the Student Loan office sent my check back to the issuer. Of course, they couldn’t take two fucking minutes to call me or send me a letter letting me know they did this and why.(Sheesh! This was eight years ago and I’m still apparently pissed about it!)
Turns out that as an undergrad, I wasn’t allowed to be awarded more than $10,000 per year. Now, I know it’s mighty assumptive to hope that people who work with dollar figures every day would have some slim clue about math. Because whichever way you slice it, calendar year or academic year, I was not, in fact, awarded more than $10,000 in a year. I swear, I literally saw the bulb light up over my idiot loan counselor when I pointed that out to her…
That’s how it works here in Canada, at least with the government student loans. Any of your savings is taken off the amount of the loan (they have an equation for if you can work this long before the school year starts you should have at least this much saved and that is taken off) and anything above $1600 in scholarships/bursaries is taken off. Plus if you are under a certain age or haven’t been out of school for very long they also take into account your parents incomes, whether or not they can help you pay.
Luckily I’ve been out of school/lived on my own long enough they won’t take that into account. When I applied for a loan I did ask for a little more than what I absolutely needed, but it was still a good $500/month below what according to them I could ask for. I got my loan but I was told I asked for more than I was allowed to get :rolleyes: so I was given less than I asked for. I’ll be able to manage, but because I still don’t have a proper dayhome for my son I may really need the money I asked for to pay for daycare (I was going based on what the lady told me, but that dayhome doesn’t have an opening so now I have to find another one that does… on short notice… argh… whole other rant)
I’m just glad for the bursaries that the government has set up within the student loan office, so I pay back less than what I am getting as long as I finish my schooling. If I had to pay with my earnings (what earnings?) and a loan from a bank (which I’d never get) I’d never get to college.
The way it used to work in the UK, for those entering higher education pre 1998, was that you got a grant which was means tested, and a loan, which wasn’t. For those entering higher education in the 1998 academic year, you got a miniscule means tested grant, your contribution to your tuition fees was means tested, and a non-means tested loan for the 1998-1999 academic year. After that, your contribution to tuition fees was means tested, but I never remember loans being means tested. The parental contribution was always taken into account.
I’m starting my Sr year in the fall. FOr the past 3 years, I’ve always received enough financial aid to pay for my tuition and books and living expenses. I go to a private school, so my tuition is very, very expensive. They offer Srs more money than Jrs, Jrs more money than Sophomores, etc. Also, this year when I filled out the FAFSA, for the first time ever, it said my expected contribution is Zero.
So, why is it that I have a smaller financial aid package than ever before? I was counting on that money for books, expenses, and a month of study abroad in Italy. Now I’m going to have to take out an additional loan. Why? Who the fuck knows. Because the financial aid office likes to fuck with me I guess. They’ve been fucking with me since January. Last semester they cancelled my loans! Fortunately I caught it in April before I was really fucked.
I wonder what will happen if I graudate a semester early? Will I still get to keep my financial aid that I don’t use for Spring semester and put it towards grad school?
I had this happen once. Go to the bank and point out that the endorsement does not match the front of the check. Suggest that they return the check, since a proper endorsement is missing.
The drop in the final year of the UK loan is nothing to do with means testing (thank God). It’s simply that the other years include a ‘summer allowance’, theoretically funding your living costs through the holiday. Naturally, once you graduate, they’re not supporting you any more, so don’t pay you that £500.
I work in a university - the new fee regime doesn’t come in until 2005/06 so your fees should not have gone up this year. Anyway, as far as I know, anyone registered on a course already is protected from the new increases. If you want to email me then I can give you more info…
My increase in fees isn’t because of the top up fees being introduced in 2006. It’s because the Government is not paying my fees for me this year, like they did last year.
Oh right - I understand now. You mean the means-tested bit from the LEA.
You could contact the SLC and find out how they’ve calculated your loan payment. Normally if your LEA funds change the SLC are notified and will loan more (which is in their interests in the long term anyway, of course). The only difference is if means-testing shows that you don’t actually need extra funds and so the SLC won’t oblige either.
He decided he’s going to let it go. He’s the kind of person who is incapable of paying the minimum payment on anything. So, giving them $300 in month doesn’t faze him. It must be nice to have extra money every month.
