Posted by Matt
At present there are some pressing issues with the Students Loans situation for all students. I am working closely with the University to try and resolve these issue as best as possible for all other students.
I wanted to share with you however some facts that were sent to myself by the NUS (National Union of Students.)
The NUS wrote:
"Current situation
As of the end of last week, the SLC advises us that:
• There are currently 1,040,000 applications in the system, of which 830,000 have been processed
• They are still receiving 5,000 applications per day – a higher than expected volume for this time in the year
• Earlier in the summer, there were significant delays in processing evidence for those who were applying for the full, means-tested loan. Moreover, more students have applied this year for student finance in general, and a greater proportion of applicants have asked for means-tested support compared with last year
• All students who applied by the deadlines will receive the non means-tested loan (which accounts for at least 72% of their entitlement) when they start term and will receive any outstanding amount around 4 weeks later. SLC continues to take this approach for later applications so that students have at least the majority of their cash as soon as possible
• Many students have applied late in the cycle, after clearing
• The phone lines are unable to cope with the volume of calls. The call centre is set up to deal with 25,000 calls per day but is currently receiving 100,000 per day. Applicants should check the status of their applications using the online tracking system first, or if they do wish to call they should do so after 6pm when lines tend to be quieter."
My own view is it's unnaceptable to treat students in such a way and if and when the current situation is resolved there are going to have to be serious questions asked of the Students Loan Company and whether this is going to be a recurring problem.
I will update as and when any new information comes to light.
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In case of defaults in the repayment of the student loan, the rehabilitation programs of the lenders can be utilized as the way, which help to pay the student loan. In brief student loans can be compared to the common saying “slow and steady wins the race”. If you are able to start the repayment during the study using money from the vacation jobs or part time jobs, it will certainly help to pay the student loan early. Also, keep in mind that the extended repayment schedule is not advised in all cases as it will levy more money as interest. Hence a planned and intelligent strategy will be the best way to pay the student loan easily.
ReplyDeletehttp://studentsblog2.blogspot.com/2009/11/ways-to-pay-your-student-loan-easily.html
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ReplyDeleteits really helpful source