Increased Student Loans for University Starting to Sink in for Students Relying on Student Funding

Aug. 8, 2011 - PRLog -- The implications of the recent increased tuition fees and the reality of potentially leaving university with fees of around £50,000 is now starting to kick in for most students in England.

“Many students have seen lots of coverage on the news and in the papers but may not have put much thought into it, but now they are realising they could end up with massive amounts of debt,” said James Jones from Poor Credit Loans 4 You, who specialise in acquiring Student Loans for Students throughout the UK.    http://www.poor-credit-loans-4-you.co.uk/loans-poor-credit-loan-poor-credit-loans-poor-credit-loans-with-poor-credit-loans-poor-credit.html

In the recent months the amount each university will be charging has become clearer and a third of English universities will charge the maximum £9,000 a year for all their courses.

The average fee throughout the country will be £8,393 and after all bursaries, subsidies and waivers for low income families the average will still be £7,793.

For the majority of students their student debt is expected to last more than 30 years, which is when all remaining debts are wiped off.

“The student loans do not have to be paid back until the student’s income is more than £21,000 a year under the new system, when they start earning beyond £21,000 they will have to pay 9% of their income a month in loan repayments and it increases as you earn more,” said James Jones from Poor Credit Loans 4 You, who specialise in helping UK residents acquire the Student Loans they are after.     http://www.poor-credit-loans-4-you.co.uk/ccj-loans-for-po...

Under the current system, repayments start at £15,000, so someone earning £21,000 a year has to repay £45 a month.

“With the combination of inflation plus interest rates and bigger initial loans, there is a high chance that many people will be in debt for three decades after leaving university, so anything still owed would then be written off,” said James Jones from Poor Credit Loans 4 You.

Many families will try and contribute to their child’s further education at university, but for many families through England this is not a possibility and they are not able to contribute funds to help their children through university, which is why there are different plans in place to help these lower income families get the education their children deserve.

As a lot of families can’t afford to contribute some students have had to get a part time job, allowing them to be able to pay for their living expenses and as you can earn up to £7,475 a year tax free when you are a student, it can prove very helpful for helping you progress through university.

“There are websites out there such as .www.scholarship-search.org.uk and .www.unigrants.co.uk that can point you in the direction to potentially obtain extra funding,” said James Jones from Poor Credit Loans 4 You.

“There are many different plans in place for different bursaries, subsidies and waivers etc and Lloyds TSB is offering a one for sudents whose homes have a less than £25,000 income”.

Lloyds TSB will be piloting a scholarship programme that will be starting this year at Bristol and Sheffield university and moving on to other universities if successful.

They will be offering bursaries, paid work placements and mentoring to 15 students at each of the universities where they operate the programme. They will pay bursaries from £3,500 to £9,000 a year depending on academic performance and each student is guaranteed 16 weeks of paid summer internship with the bank, which is worth a further £5,600 and in return the student must commit to 100 hours as a community volunteer.

“These are great ideas from Lloyds TSB and should hopefully encourage young people to get into university and make the most of their further education, but Lloyds TSB is not the only place offering incentives.  The accountancy giants KPMG has gone even further and launched a six-year training programme for school leavers,” said James Jones from Poor Credit Loans 4 You.

The six-year programme gives school leavers a chance to earn a degree and a professional accountancy qualification whilst being paid a salary by KPMG, covering students tuition fees and living expenses.

Poor Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.

Poor Credit Loans 4 You is also covered by the Financial Ombudsman.

Poor Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.

For help, phone 0800 215 5860
Or Visit: http://www.poor-credit-loans-4-you.co.uk/poor-credit-loan...

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Notes for Editor:

Loans 4 You of London Ltd
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Tel: Free Phone 0800 215 5860

Poor Credit Loans 4 You was formed in order to ensure people with poor credit had access to specialist help in securing the poor credit loans they need.

From its UK head office in Monks Brook, Loans 4 You operates across Britain, sourcing poor credit loans for people with poor credit

Poor Credit Loans 4 You holds a Consumer Credit Licence issued by the Office of Fair Trading.

Poor Credit Loans 4 You is also covered by the Financial Ombudsman.

Poor Credit Loans 4 You is also registered with the Information Commissioner’s Office for Data Protection.

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