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Can I get a refund if I overpaid BUT did reach the yearly threshold?
My monthly pay varies as I do a lot of overtime, so some months I paid and most I didn’t. My annual earnings ended up just exceeding the limit, but as my earnings were much higher in some months I have ended up paying more than 9% of the amount that I am over the threshold - by about £100. Can I get a refund of this, or…
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Guide discussion: Plan 5 student loans
This is the place to discuss our new guide on 'Plan 5 student loans'. We'd love to hear your thoughts, personal experiences, and general feedback. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.'
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Advice about finance available for a mature student doing a healthcare BSc
Hi all, Would appreciate some advice as everything online is confusing. Can you get definitive advice about student finance before you apply to Uni? It would be make or break for me so the whole 'you may be eligible' is not very helpful This is my situation: I have a degree from way back. I am now mid 40s single parent…
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Student Loan overpayment
Hi, My sister is a doctor, she had paid off her student loan in full but just realised that they have taken more money than they should have. When she spoke to payroll they said they can’t do anything because the Student Loan Company (SLC) has to stop it from their side. When she called the SLC they said the opposite -…
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Honour Student Loans - '...cancelled and no further payments are due.'
I've recently received a letter from Honour Student Loans (HSL) telling me that under section 8 of my loan agreement my loan has now been cancelled and no further payments are due. It's a mortgage style loan from University studies 92-96. There were four loans in total and the letter references them as 'Pack Numbers' under…
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Salary sacrifice & student loan repayment
One of the children received a job offer for when she graduates next year. It’s only £28K salary but includes becoming chartered and she also has the option to salary sacrifice both pension and EV. Does salary sacrifice come off the income threshold for student loan repayments ?
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When will my student loan be written off? Confused
I started university in England in Sept 1997 aged 21. I graduated in July 2000. Standard undergrad degree. I took out student loans in 1997 & 1998. Over the years since I have had some jobs where I earned above the threshold and thus loan repayments were taken from my salary, and some jobs where I earned less, and thus no…
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Age related cancellation
Hi, looking for some reassurance. I have the old style student loans, taken out in 97,98,99 - am I correct in thinking all of these will be wiped this year despite the 98 and 99 loans having been sold to Honours, and the 97 one still being with Erudio? Never defaulted, always deferred on time. Interestingly, this was the…
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Searching for professional student loan repayment advice
I was of the 2012 university intake (the first to pay £9K per year) and my monthly student loan repayments have increased significantly over the last couple of years. I am now looking to assess whether it would be worth trying, somehow, to pay it off in one lump sum. Beyond the good threads at MSE, i can't find anyone who…
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Old student loan
hi, I took a 1 year student loan out in 1996 (course ended June 1997), in Scotland. From info I have found on this website I think this should now be cleared but I’m still being hounded by Erudio for payments. It is over 25 years since first payment would have been due and I also turned 50 this year so under both scenarios…
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Mortgage style student loans....calculation ?
My daughter has one of these via Erudio, and although it's finally due to be written off in 2025 she's now paying a whack as her gross pay has reached the threshold. The rate was 13.5% and I found the method it was calculated over a 5 year period...but couldn't get this to agree with what Erudio are asking her to pay. Now…
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To pay off my student loans?
Hello All, I'm very confused if I should think about paying off 1 or both of my student plans, despite watching and reading Martins advice. I think this is because I'm considered a higher earner. I'm 43yrs old and think I may pay some of it off before I retire, especially as I expected to be promoted in the next few…
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Plan 5 Student Loan Interest 13.5%
My daughter’s loan account (Plan 5) states that her interest rate is 13.5%. I can see from a thread on Reddit she is not the only one. I believe the current rate according to the Gov site should be 4.3%, as it has been capped at this. Is she being charged at 13.5% if this what’s displayed? Would be good to know if anyone…
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Council Tax liability for Graduating students
My son has just been hit with a £150 a month council tax bill ( for a studio in middleborough like how can it be that much ?) They are claiming that his course finished on the 16th of May even though he doesnt graduate until the 16th July. He has no income , he is living on the remainder of his student loan whilst be waits…
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student doing a Year in Industry Work Placement as part of degree - still counted as a student?
My son is doing a degree at university which includes the option of a 12 month year in industry work placement between the 2nd and 3rd year of the degree. Fortunately he has just managed to secure an industry placement which starts in mid-August so we are now trying to find him accommodation near the placement. The…
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Student Loan and investments
Hi, I am trying to advise my son who is just starting university in London and taking out a student loan. He is also lucky enough to have some investments in the form of an ISA and a trust which cannot be accessed for another 6 years. My question is, if after graduating he takes a job at 25K pa, just under the current…
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When does 30 years start for Plan 2 student loan if you leave at the end of Year 1?
My son completed Year 1 of University and left in July 2021 deciding that it wasn't for him. He only received one year of student loan, and the student loan company were advised by the University that he had left. He has been working but has not reached the repayment threshold since then and had been assuming that these…
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Help understanding APR of student loans - Plan 5
Can someone explain how the interest rate for Student Loans (Plan 5) is calculated. On the Gov website (educationhub blog gov uk/2023/08/01/how-are-student-loans-changing-everything-you-need-to-know/) it says: "The interest rate is set at the start of each academic year and is linked to the rate of inflation as measured by…
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Student Loan - Unable to access account
I received a letter from SLC telling me to update my employment status. They've always previously send me a paper form to do this - but this time, they're forcing me to do it online. The problem is that I am unable to access my online account. Ever since they moved from their "studentloanrepayment" website to the "gov.uk"…
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Guide discussion: Should I repay my post-2012 student loan?
This is the discussion area for the Should I repay my post-2012 student loan? guide. Click reply below to discuss. If you haven’t already, join the forum to reply.
