Pre 1998 student loan query

spammywammy

Hi - would anyone be able to help a confused person!

I took out a student loan in 1994 and 1995. I have successfully deferred payment every year since. I've see from this site that the current earning threshold for deferring a pre-1998 loan is £25,300 per year. I work part time (half normal full time - 18.5 hours per week), so do I have to start repaying when my earnings reach half of the £25,300 per year ie £12,650?

Oldernotwiser

spammywammy wrote: »

Hi - would anyone be able to help a confused person!

I took out a student loan in 1994 and 1995. I have successfully deferred payment every year since. I've see from this site that the current earning threshold for deferring a pre-1998 loan is £25,300 per year. I work part time (half normal full time - 18.5 hours per week), so do I have to start repaying when my earnings reach half of the £25,300 per year ie £12,650?

No, definitely not. I'm in the same situation as you and changed my job to being a .9 post to keep my earnings under the payment threshold when I received a payrise a few years ago. Keep deferring!

spammywammy

Thank you Oldernotwiser, that's very useful to know. I sometimes work overtime and am nearly at the stage where doing that would take me over the £12,350 mark. Knowing that I have the whole £25,300 to play with means I can carry on so that we have some holiday money :T