Loan groans (Student Loans Co.)

Member Name: k.mccrindle

Product:	Student Loans Co.
Date:	08/11/00 (26 review reads)
Rating:

Advantages: Gives a little help through the year

Disadvantages: Not enough money, slow application processing

I applied for a loan at the end of July and 2 weeks later I received my letter of approval. I then had to wait until the beginning of November for my letter of award as the company had 'misplaced' my application. When the letter of award eventually did come through, I was shocked at the small amount they were offering me. Fair enough, I come from a moderate income family and still live with my parents, but what the SLC expect as a parental contribution is abolutely ridiculous. I don't know about anyone else, but I don't see half of the money that the SLC expect to be coming from my parents, which means I am now losing out just because of how much they earn. I think it is very unfair to be judged by your parent's income as alot of them want money for board and other household expenses - never mind handing out money to their teenage children. I just think that every student should be treated equally in respect to these loans as if it is going to be paid back eventually anyway, what's the difference?
Another point could be that someone coming from a higher income family would have more chance of being able to pay the loan back, so they shouldn't be hit with less money, nevermind a couple of thousand £s less.
Well, that's just my opinion on my dire £1,600 loan compared to my friend's £3,600 one.

Message to the SLC: GET YOUR ACT TOGETHER!

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