Money Money Money


I stress the most about money. I stress about never having money. I stress about having too much money and then wasting it. I stress about not being able to afford the price of living. My student loans. My phone bill. My overdraft. Money doesn't make the world go round - money is the world. This morning I received a letter from the Student Loans Company. It told me that, because I left my course early, I had to start repaying some of my student loan off now. Understandable. What I don't understand though, is the lack of empathy and the complete disrespect the company has for people. They don't care about people - they care about money.

So, I left university before my first year was over on 28th April 2016. Keep in mind that this was basically the end of the year - because my last exam was on the 10th May. It wasn't even a month. because of this, the Student Loans Company decided that they had contributed too much towards my 'studies' therefore I had to give them money back due to this. I've been told I have to repay £2889 back to them regardless of my circumstances.

My intentions weren't to create a sob story, or to make them feel sorry for me - but I needed them to understand where I was coming from. I left university because I wasn't fit to stay there, and if I had stayed there my mental health would've just turned to a pile of shite. OK, I didn't exactly use them words but you catch my drift. They seemed understanding of this at first, but quickly changed back to the topic of what my preferred method of repayment would be, even though the letter clearly states that if I can't afford to repay it I don't have to right away.

The conversation ended after a good half-hour, even though it might as well have last ten minutes because the person on the other end of the phone just said the same thing in different variations every time I asked him a question. I've ended up with a direct debit for the Student Loans Company of a whole £5 every months. I can adjust this to my desire if I want to repay more - but the point still stands, I'm a 19 year old who has a part-time job and don't earn near enough to repay my loan. I was never told about this clause, and I feel like it's very much a trap. 

When I return to university in September, I have to ring the company up once more and tell them about my change of circumstance. I did enquire about what might change when I do this, just to be told that nothing will really change and I still have to repay it regardless of whether I've returned to my studies or not. Looks like I will be paying £5 a month for the rest of my life to the Student Loans Company! 

Oh, and if you wanted to know. At this rate, I'll have it payed off in 46 years. That doesn't include my actual £9000 from this past year and the rest of my loans from the next three years to come. 

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  1. Ugh. I hear ya. I have a ridiculous amount in student loans too. In the US since my loans were through the government they allowed me to sign up for a program where my loans are forgiven if I pay consistently for ten years. Sad, how excited I was about that!

    1. We have a similar scheme over here in the UK! We pay the loan off when we're earning a certain amount of money - and it comes out like tax would. It's so silly though! It causes too much stress, more than it should!