31 March 2015

50k Overpaying Loans, Payday Ad Banned, 1D Easter Eggs Reduced…

1000s overpaying student loans

Loans not saving moneyA report by the Students Loan Company (SLC) has found that over 50,000 graduates are overpaying their student loans each year by an average £570.

This is because HMRC (the lovely tax people) only update the SLC once a year, even if you have changed job.

Those most likely to have overpaid are graduates who have already paid off their loan, or had a pay cut. If you think this affects you, give the SLC a ring and request a refund – you get interest, too!

Our take: £570 is a lot of money when you think about it – but many wouldn’t question how much their instalments are as graduates owe a lot of money (but still not as much as the graduating class of 2015… thanks, Government!). It’s great that the SLC decided to investigate the matter themselves instead of a possible scandal and independent inquiry… does that mean they really do care about us after all?

 

Payday loan’s student ad is ‘irresponsible’

pydayAn ad by the payday loan lender (who we decline to mention) has been deemed ‘irresponsible’ by the Advertising Standards Authority (ASA) because it targeted students.

The ad had no mention of the APR charged (turns out it was really high – no wonder they hid it!) and had a prize promotion to win a term’s rent. The ASA have ruled that the ad can no longer appear in its current form.

Our take: Students are an obvious market as we are famous for having no money – but it’s just wrong to play on our financial vulnerabilities, or anyone’s for that matter. Of course it’s irresponsible! Payday loans are not, and cannot, be the norm – they can encourage more debt which we don’t need. Find out about the truth about payday loans here and if you’re really struggling with money, there are options – we have oodles of tips and tons of guides here.

 

East Coast trains privatised

eastcoasttrainsVirgin and Stagecoach have bought the train service provider East Coast, which had been in state control for the last five years.

It has now been renamed Virgin Trains East Coast (or VTEC for short, as it’s a bit of a mouthful). There are fears that there will be reduced competition between train companies, leading to higher train fares for customers.

Our take: It’s not nice knowing train fares will undoubtedly rise because of this – when East Coast was owned by the state it generated money for the tax payer and helped keep things fair. You may want to take a gander at our tips for cheaper train travel.

NUS delegates want jazz hands for applause

jazzhandsThe National Union of Students have announced (and been ridiculed) that some delegates want to abolish clapping in case it triggers anxiety. Their suggestion instead is interesting and dramatic…. They want to use jazz hands.

As well as reducing anxiety, it would also mean there would be fewer interruptions during speeches. The question is – you clap louder when you really really agree with something, but how can you enthusiastically do jazz hands without injuring yourself?

Our take: It sounds like a joke, but the NUS are just trying to ensure members are happy – anxiety can affect someone’s confidence and lead to depression, and that’s not a joke.

 

Lidl reduce One Direction easter eggs

Lidl1dIn case you hadn’t heard – Zayn Malik has quit One Direction. Dry your eyes, lean on our shoulder – we’re there for you, it’s affecting us too.

But – good news! Because of this, Lidl have reduced the price of their One Direction easter egg by 20% – that’s 1/5 in case maths isn’t your strong point – because there are now four members. The egg now costs 79p.

Our take: Whether you want to drown your sorrows in chocolate, or just eat ALL THE CHOCOLATE, you can now do so cheaply. Thanks Zayn! We can now cope with the news of your departure.

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