| Martin's Money Tips email (can't see this properly? Read it online) | | | | It's provoked rows in the Commons and riots in the street. I'm no fan of the English student finance changes, but the political spittle from both sides is just as damaging; promoting myths & confusion while little's written of the practical impact on students' pockets.
As it's uni week for 2012 starters, I've written a major new guide Student Finance 2012: 20 Key Facts. Here's a brief summary: -
 The changes ONLY hit new September 2012 undergraduates. Existing students and 2011 starters stay on current system.
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You don't need the cash to go to university. Fees are automatically paid by a Student Loans Company loan. There are loans for living costs too. -
You only repay if earning over £21,000 & it wipes after 30 years. Full time students' repayments start the April after graduation, taken by employers like tax (so no debt collectors chase), at a rate of 9% of everything over £21,000. If there's debt after 30 years it disappears, so if you never earn over the threshold, you'll never repay a penny. -
Repayments are £540/year LOWER than now. Current graduates repay 9% of earnings above £15,000. The new threshold's £21,000 (which will rise with average earnings), so future grads will have more disposable income. -
You will owe money for LONGER and may pay a lot MORE. As you repay less each year, the original debt's bigger, and you pay higher interest, it'll take MUCH longer to repay the loan than now. -
Monthly repayments are the same, whether fees are £6,000 or £9,000. The course fee size doesn't impact monthly payments as they're set at 9% of earnings above £21,000 - though it could mean repaying more in total. -
Many will NEVER pay it all back. Many starting even on £25,000 salaries won't repay all owed within the 30 yrs (see will I repay it? table) meaning you repay for much of your working life. The slight silver lining is it means for many there's no increased total cost by doing a £9k course than a £6k course. For full help on living costs, grants, part-time fees, how this impacts mortgages, whether you should take a loan if you've got enough savings, links to help on the current system & more, see the New Guide: Student Finance 2012 KNOW SOMEONE WORRIED ABOUT 2012 CHANGES? Please send them this link www.moneysavingexpert.com/students2012 - it's time people understood. | Help us spread the word Please forward this email to friends and suggest they
get it themselves via moneysavingexpert.com/tips | |  | | Gas & elec price hikes Q&A. Should EVERYONE fix now?
Scottish Power prices UP 19% | Other providers likely to follow | To beat hikes, act now Scottish Power announced Aug 19% gas and 10% elec price hikes last week. Energy firms act like sheep so the rest are likely to follow. We had scores of questions so we've a Fix now? FAQ. Here's a summary (for all not just S Power custs):  A fix saves me £150 a year. Why? Last week, we said those on standard tariffs should "fix now if you can't afford hikes" as it protects from rises for a set time. Many compared and were shocked they'd save big & get the price lock-in. Why? Simply because standard tariffs are massively over-expensive. - Is the new price on comparison sites? Yes, results are now based on the POST-rise prices. Good for all but existing Scottish Power customers who should compare using Kilowatt hours used, not cost, as sites now inaccurately assume the past bill was accrued at post-rise prices - so it thinks you've used less than you have.
- Should I call my existing provider to fix? No, no, no. This isn't about grabbing any fix. That could leave you locking-in at a high cost - it's about locking-in on the cheapest fix.
- How do I find the cheapest fix? It depends on location and usage, so use a comparison site and click 'show only fixed tariffs'. Top Comparison: Energyhelpline* pays £15 cashback via this link per gas, elec or dual switch. Dual Fuel: MoneySupermarket* pays £30, Uswitch* a crate of wine, SimplySwitch* £40 cash.
- The comparison showed me it'll cost MORE to fix? This is common if you're already on a cheap discount tariff. Prices are predicted, though not guaranteed, to rise 10%-20%, so if you'll pay more than that on a fix, it's likely to be best to stay put. If the gap's less, balance savings now against a fix's price certainty.
- Ditch my current fix to fix again? Past fixes are likely to be much cheaper than current ones, so generally stick with them (compare to check). Yet if you've only a short time left, the risk of waiting is today's cheapest fixes will be replaced by costlier versions - so balance that against the £50-£80 exit penalty.
- How long should I fix? Most fixes are 18 months, but longer ones at higher rates exist. While long term (5yr+) energy prices are likely to keep rising, market fluctuations can see prices drop over a shorter cycle. So this is about your attitude to risk. If price surety's more important than the very cheapest prices, fix long.
Full info, help for prepaid customers & cashback in the Updated Guide: Cheap Gas & Elec Related: Energy Grants | | Top 10 hidden Amazon bargain basement deals
Up to 90% off electronics, video games, toys etc | 100s of FREE Kindle eBooks Our ever-popular Amazon Hidden Discount Finder Tool is now over a year old. To celebrate, we've compiled the ten most popular pages (see right) and a free Kindle eBook lists to boot. - Make bespoke Amazon discount pages. The Amazon Discount Finder manipulates Amazon web-links to create customised bargain basement pages. Just select the percent off the list price & the category you want, eg, 60%+ off TVs*. Hint: For best results, use lower discounts for high-end items, eg, 20%+ off furniture* but go high for others, such as 90%+ off kids' DVDs*.
- Free Kindle eBooks (even without a Kindle). We've a new free Kindle eBooks section, incl top 100 free eBooks*, free romance eBooks* & free children's classics*. Free classics* fans get the most choice including Sherlock Holmes, Dracula and Pride & Prejudice. You don't need to own the eBook reader to use it; you can read 'em on some phones. Just download the free Kindle iPhone app/iPod Touch app*, iPad app* or Android app*.
| | - Important warning about the discount finder! Pages are auto-generated using Amazon data, and sometimes it lists wrong discounts. Remember, A DISCOUNT ISN'T ALWAYS A BARGAIN. Compare prices elsewhere and watch for 3rd party (non-Amazon) sellers, with higher delivery costs.
FULL info & help in the Updated Tool: Amazon Discount Finder Related: Cheap Online Shopping, Top Cashback Sites | | | |
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