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  • Student loan

    Hi i'm considering about getting a student loan and have a few questions seeing that the people from advice and finance are useless at college and i would like to know if i'm even able to apply for a student load and if so whats the best way to get a student loan because i haven't got a clue.

  • #2
    Ring up the stuent loan company, explain what course you're on (HNC/D or FD) and ask can you have a loan pretty please. If that goes tits up, some banks will also lend you a personal development loan at low interest rates.
    "Crazy like wild wolves threatened by fire, send them all to the bottom of the sea."

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    • #3
      Question here is, do you actually need one? I managed to make it through my cadetship without having to take out a personal loan or SAAS or whatever...
      I love deadlines. I like the whooshing sound they make as they fly by.....

      All posts here represent my own opinion and not that of my employer.

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      • #4
        You shouldn't really need one seeing as you will be getting more for living expenses/accommodation than most university students do with their loans.

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        • #5
          You won't need one. Be a tad sensible and you will have enough beer tokens to see you through the month.

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          • #6
            Originally posted by Lundster View Post
            You shouldn't really need one seeing as you will be getting more for living expenses/accommodation than most university students do with their loans.
            Depends who you are sponsored by and where you go to collage. Some people will need student loans.

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            • #7
              I know that some people get student loans while on the cadetship. It entirely depends on your financial position and your commitments.

              My personal advise would be not to get one. The cadetship is one of the few education programs remaining which is sponsored and also pays you a wage, which will cover accommodation and will give you some money to spare, so long as you don't go nuts lol. To not have to pay back loans after education is a benefit and if at all possible I would say try and avoid taking one out if you can.

              Some companies pay less than others, but I've never come across one that doesn't pay enough for accommodation and basic living expenses. As I said, it depends what other commitments you have. Some honestly can't make ends meet without the extra money.

              To boldly go.....
              Forum Administrator
              OfficerCadet.com

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              • #8
                Just a small point, as the loans are paid back via the tax system, I believe that your repayments actually come back to you with your tax back cheque.....ipso facto free money. Also if you are employed and not sponsored...AND you are classed as a mature student, you will be eligable for the maintenance grants as your cadet wage will be used as your income. Swings and roundabouts at the end of the day.

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                • #9
                  Originally posted by steamer View Post
                  Just a small point, as the loans are paid back via the tax system, I believe that your repayments actually come back to you with your tax back cheque.....ipso facto free money. Also if you are employed and not sponsored...AND you are classed as a mature student, you will be eligable for the maintenance grants as your cadet wage will be used as your income. Swings and roundabouts at the end of the day.
                  Not true - if SLC can't collect your repayments automatically through the PAYE system (most seafarers who are not paid by UK companies) they will start sending you letters asking how much you earn and then demand you repay it via bank transfer or cheque.

                  They continue to send them each year just to update you on how much interest you now owe them
                  ?Twenty years from now you will be more disappointed by the things you didn?t do than by the ones you did do. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.?

                  ? Mark Twain
                  myBlog | @alistairuk | flickr | youtube Views and opinions expressed are those of myself and not representative of any employer or other associated party.

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                  • #10
                    Originally posted by alistairuk View Post
                    Not true - if SLC can't collect your repayments automatically through the PAYE system (most seafarers who are not paid by UK companies) they will start sending you letters asking how much you earn and then demand you repay it via bank transfer or cheque.

                    They continue to send them each year just to update you on how much interest you now owe them
                    And what happens if you ignore them until you reach the point where you dont have tp tepay the loan?
                    "Crazy like wild wolves threatened by fire, send them all to the bottom of the sea."

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                    • #11
                      Originally posted by Ducki52 View Post
                      And what happens if you ignore them until you reach the point where you dont have tp tepay the loan?
                      That may or may not be rumour but only 1 more year until I find out
                      ?Twenty years from now you will be more disappointed by the things you didn?t do than by the ones you did do. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.?

                      ? Mark Twain
                      myBlog | @alistairuk | flickr | youtube Views and opinions expressed are those of myself and not representative of any employer or other associated party.

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                      • #12
                        Search about, I know someone who got a 3k grant then a 3k loan

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                        • #13
                          If you already have a degree, you won't be able to get a student loan because its a lesser or equivalent qualification. Even if, like me, you've never had a student loan. You shouldn't really need a student or any other sort of loan.

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                          • #14
                            Is it possible to get a maintenance loan if you've already had a student loan? I can't seem to fathom the answer, some say one thing, some say another and student loans people are as ever little use

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                            • #15
                              Just had a bimble through the Student Finance Calculator , and discovered I am eligible for a maintenance loan of just under ?4000 and a maintenance grant of just over ?3000. Its worth having a look, especially as petrol tanks don't fill themselves these days...

                              Edited to add: This is for a HND course as well, so both FD and HND are covered. No idea about HNC though.
                              "Crazy like wild wolves threatened by fire, send them all to the bottom of the sea."

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