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5th January 2007, 01:52 PM
The student loan deferment system would work well if graduate archaeologists had one permanent address.Truth is, we move around so often (sometimes on one-week contracts) that we are just hideously open to being defaulted by the SLC and forced to start repaying our loans before we can afford to do so. There are those amongst us who have had some hideous problems with the SLC and I would love to hear from you.In my little world of debtdom, the SLC point blank refused to re-issue another deferment form and instantly cancelled my contract.This after only my second year on the circuit.I missed sending the form back by a week and ever since, the SLC have demanded that I repay my loan and have even taken me to a County Court.Frankly, I`m not having any of it. It is my contention that it is in the financial interests of any loan company to default at the earliest opportunity and graduate archaeologists are probably in the worst possible position. So, SLC taking money they have no entitlement to? Have you been defaulted due to the nature of your work? Refused a deferment form? Gizza shout please guys, I think potential undergrads need a fuller picture before succumbing to the idiocy of student loans.Many thanks to all, don`t be shy!
..knowledge without action is insanity and action without knowledge is vanity..(imam ghazali,ayyuhal-walad)
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5th January 2007, 03:11 PM
I have not suffered from SLC rubbish thanks to having done my original degree in the time when student grants were a fact not a legend, and I funded my MA (and am funding my PhD) entirely by myself. However, if moving around too much is a problem, surely anyone that could suffer should be advised to use a more stable address such as their parents'? Most people have mobile phones these days so it should be easy for the parents to contact you if the form arrives. I can still foresee some problems with this, but it strikes me that the problem is not insoluble.
Cheers,
Eggbasket
Gentleman Adventurer and Antique
"A great victory for rangers and hamsters everywhere. Right, Boo?" - Minsc
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5th January 2007, 03:11 PM
Can't speak about the UK system as I am far too old to have been troubled by student loans, but advise any UK student contemplating taking out a loan to enquire into the student loan situation in Sweden and Norway. It is not uncommon for students in Norway for example to end up in the region of 300,000 kroner in debt at the end of their studies (circa 25000 pounds)!!
My Norwegian father in law (who chose to become a geologist, rather than an archaeologist, as he figured there was more money in geology) was still paying off his student loan well into his fifties. And that was just as a result of undergraduate studies, as early onset family stopped his post-graduate studies at the outset. My Norwegian wife has just finished (in her mid 30's) paying off the interest on her student loan and has just started reducing the capital amount.
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5th January 2007, 03:14 PM
few years ago had this very problem - I was away from my postal address for several months at a time - missed the cut off for deferment - only relised when money went out of my bank account!
However, one quick phone call to the SLC to explain the situation and they halted the collection of money and eventually even put the collected amount back into my account when I had got my deferment sorted out.
Mind you still defering my payments and at this rate I think I may reach the 25 year cut off before I earn enough to pay it back (only 13 more years to go!!)
Also have a collegue who had his pay slips rejected by the SLC 'cos they were all covered in mud!!!
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5th January 2007, 03:29 PM
If you really want to be put off the idea look
here, not just for the problems students have had but also some choice advice from SLC staff.
I maiali sono alimentati e aspettano per volare
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6th January 2007, 01:17 PM
Not sure what website your link was aimed at, Barnsey, but it seems to be some sort of photo blog.
Besides, its not only archaeologists who move around a lot after uni. Most people I know still use their parents address for the letter to be sent to. Its a similar situation to Norway in the states. People come out of university oweing tens of thousands, but unlike here, the companies need paying back as soon as you graduate, so none of this messing about going travelling.
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6th January 2007, 01:55 PM
Bad link, sorry
:face-thinks:
Basically, much as you say oxbeast, problems are not archaeology graudate specific.
I maiali sono alimentati e aspettano per volare
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6th January 2007, 11:39 PM
They've taken a months payments on two occasions in the few years. Both times they've refunded it within a month or so, but it's a hassle. Both occasions were due to me having moved address. Its another one of those things that's hard to sort out when you're working 8-5 in a quarry in the middle of nowhere for a 6 month stretch too. Nothing compared to the trouble I've had with ******* council tax though....
14 years till my first years loan's written off!
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7th January 2007, 01:32 AM
Well they messed me around pretty much every year; mainly due to the mysterious disappearance of my forms. After I started sending the forms by special delivery I didn't have any problems...
All sorted now (RIP Granny).
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9th January 2007, 10:05 AM
Thanks everyone. Seems to me that it is in the companies interest to breach people as soon after graduating as possible.As a circuit digger, I know of a good few people who have returned from excavations only to find that the deferment form arrived in their absence and the slc defaulted them without the option of a replacement form.They were then liable to repay the loan way before the agreed earnings-level (in my case 20k pa before repayments start). Nice little game if they can get away with it.....
Any chance of having another stab at that link Barnsey? Pretty please!
..knowledge without action is insanity and action without knowledge is vanity..(imam ghazali,ayyuhal-walad)
