one step at a time.

Wednesday, June 18, 2008


Today I have FINISHED THE ACCOUNTS! I am so happy!

So now onto the next issue.

Student Loans

The year I went to Uni (or music college if you're picky) the government introduced tuition fees, scrapped Grants and sank the entire UK uni population into debt.

They brought in Student Loans. I took 4 (I know - greedy... had a FANTASTIC time at college though, and was there for 5 years). You do not have to pay back the loan until you earn over a certain amount - around £18k. The expectation at the time was that this would be a usual salary for a graduate. What this did not account for was the government push to get all kids into Uni which resulted in degrees here being a pound a penny, and salaries not reflecting the years of study. There are now many people under this threshold.

I am still, 5/6 years after graduation, eligible to defer repayment of my loan. (I am accumulating interest though). HOWEVER the administration of the system is shoddy at best and each year deferment comes with an inordinate amount of stress.

Last year the company claimed non-receipt of my stuff only to return it addressed to my boyfriend. I resubmitted it and they deferred my loan.

This year I handed the forms in personally. They have claimed non-receipt and I am currently showing as in arrears. So this morning I've kicked up a fuss and hopefully they'll dig out the forms.

In case they don't - I've been in touch with the tax office who are sending me a replacement tax calculation which I need as back-up to prove my income but don't have any more as I handed it in IN PERSON to the offices of the Student Loans Co. Grr.

Anyway back to happy stuff.. the accounts are done!!!!!!!!!!!!!!!!!!!!!!!!!


CountryDew said...

Always make copies! I hope they resolve this issue for you.

Bond said...

Wow...that is more convoluted than here

The Guider said...

Well done on getting the accounts done!

And as for uni - I am glad I went back in the days of no fees and grants as well.

Travis said...

YAY for the accounts being done and BOO/HISS to bureaucracy.

Mrs Successful said...


I remember when my January son had a student loan and, on reflection it wasn't a lot, but the balance took forever to reduce. It's like a millstone round your neck.

Bureacracy is Hellish - good luck.

I have a tax form to fill in - a simple one - and I keep saying I'm going to do it - another millstone best way is to do it 'face-on' so I'll maybe the start of next week! Ha!

Akelamalu said...

Well done.

I was talking to youngest son only the other day about his student loan - he's 32 and still deferring!