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Count Zero


Tennis legend

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Student Loan payments (serious)
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i am not sure who on this board is a current or ex student but thought this might be of interest to some:


Please send on to all students/ex-students! you know........

For any of you that have still have student loans outstanding....please
pass on

For most unsuspecting graduates who are paying back their student loans,
the Inland Revenue takes payments directly from your employer in the same
way as they take tax.
i.e. the more you earn the more you pay, this includes bonuses etc.
However after taking monthly amounts the inland revenue does not pay this
directly to the student loan company, instead they wait until the end of
the financial year in April and then pay the entire year off to student
loans.
The effect of this is that the Inland Revenue hold on to your monthly
payments for up to a year earning themselves interest, during the 
same
period because student loans have not received these funds they in turn
charge the graduate interest on the outstanding amount even though it has
been paid to the inland revenue.
Bottom line is that for those in this position we pay interest to student
loans on money which has been taken from our accounts which the inland
revenue keeps and earns interest on.
I can see no other description for this other than THEFT!!!!
As a start I strongly suggest you sign up to the on line petition below.

http://petitions.pm.gov.uk/Student-loans/


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Count Zero - Creator of the Statistical Tennis Extrapolation & Verification ENtity or, as we like to call him, that steven.


www.alexbogdanovic.com
Rochelle


Lower Club Player

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wow thanks for that count.. as i start uni next year, im defo gonna sign that petition.. surly that is theft !

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VSandhi20


Futures qualifying

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Clever little b******s!furious i know its personal, but i type it anway! i had a grant accepted in 2004 but the SLC came back to me last year saying they want their money back! im still in debt, though im paying monthly instalments! the interest malarky i dont really understand but i know they are charging higher rates.

i dont know if you realise, but people who have been charged by withdrawals from account without realising it can get their money back. my brother did.smile

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Count Zero


Tennis legend

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i dont think anyone understands the sutdent loan scheme, it is designed to make as little sense a possible.

from what i gather i owe quite a few thousand pounds, they take about £37 straight from my account each month, but i am not sure if that is even enough to cover the interest! originally i thought student loans were ment to be inflation only. but i dotn think thats the case.

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Count Zero - Creator of the Statistical Tennis Extrapolation & Verification ENtity or, as we like to call him, that steven.


www.alexbogdanovic.com
imoen


Admin: Moderator+Tennis Legend

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my current student loan gains interest at the inflation rate only. I don't know about the ones in the past but I believe it's the same.

As for how it gets paid back, I don't really know anything about it and am burying my head in the sand for another year at least given I can't stay at uni without the loan so I have no way to change it, might as well just accept until it starts being relevant!

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johnnylad


Tennis legend

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I took one out, put it in an ISA and paid it all back at the end making about £550

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john


Top national player

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Bleeding moaning sponging students


:D

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Of all tyrannies a tyranny exercised for the good of its victim may be the most oppressive....  those who torment us for our own good will torment us without end for they do so with the approval of their own conscience

imoen


Admin: Moderator+Tennis Legend

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Yep, and proud of it! :D

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To look at a thing is quite different from seeing a thing and one does not see anything until one sees its beauty


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