My student loan isn't being paid off yet!

loubie_lou

Hiyaa!

I've been earning over 16k for 3 months now but the SLC and/or tax people are not taking it out of my wages.....i'm getting a bit worries now! Maybe I should fess up and tell them myself?

Did it happen automatically for people? Who should I get in touch with about setting it up? My boss? SLC? The tax man?

Thanks

miseter

if i was u i would let ur boss know as if u dont they mey find out themselves and then u might be back dated all the money that u havent payed in tax which u should have been paying... but it is ur own choice

Surf_Widow

My student loan started to be paid automatically from my salary, I didn't need to inform anyone. You don't start paying the loan back until the April after you graduate, so if you only finished your degree last year they won't take payments until next month. Have a look at the Students Loans website (https://www.slc.co.uk) for more info.
Best wishes,
Surf Widow

mr_fishbulb

They sent me a form months ago asking what I was doing now (I had been out of the country travelling but now I'm back working). I'm on just under 20K but they are not taking anything.

dreamalittle

It'll probably kick in in the new tax year, so check your April pay slip for it. I've changed jobs a couple of times in the last few years, and each time the payments didn't start up again until the new tax year even though I was earning over the threshold the whole time. They didn't take any back-payments or anything, so don't worry about that.

mr_fishbulb

dreamalittle wrote:

It'll probably kick in in the new tax year, so check your April pay slip for it.

I'll probably be getting a new job mid-april. So does that mean they won't take it off me again next year?

They are a pain are the aris. They only send out 1 statement a year. Why can't they let you log in to see your loan amount?

dreamalittle

mr_fishbulb wrote:

I'll probably be getting a new job mid-april. So does that mean they won't take it off me again next year?

They are a pain are the aris. They only send out 1 statement a year. Why can't they let you log in to see your loan amount?

Tell me about it. I only got the statement for up to last April in January this year! Fat lot of use that is - and it seems to be getting later each year.

Don't know about whether they'll wait til next tax year to start taking your payments - maybe it was a mistake both times in my case! (Wouldn't be very surprised)

lynzpower

It all depends when you finished. I finished in '99 and the SLco dont AUTOMATICALLY take it from my wages I had to set up a standing order to them. My mate who graduated in 2000 gets hers automatically taken.

You need to speak to them asap as Ive heard,(although not sure) that they can demand the money from all the time that you have been recieving the over- threshold salary.

also to say that I have found the SLCo excellent over the phone. Have a look at the payments. I was paying about 95 per month, upped it to 100 a month ( painfree!) and saved a month off the end. That was when I twigged on, if Id have done it earlier I would be almost clear by now I reckon!

dreamalittle

But the thresholds are also different for the two systems. Pre-1998 (course start date), the threshold is higher (£22k-ish, I think?), so the OP wouldn't have to be paying anyway if her salary is less than that. Post-1998, the threshold is £15k and it'll be taken automatically.

ftbworried

OP, if i remember correctly (probably not), aren't you on your industrial placement year? if so, they won't take money from you yet. Not until you actually graduate. I earned over the threshold on my industrial year and I got told that my SL payments will not be taken. Infact, I think you still entitled to a student loan for the year of your placement- barmy or what!?

Murtle

If on industrial year out, you are still a student so will be fine.

If you are not, phone them up they are brilliant at answering questions, the number is on the statement that they send out, and that I then loose each time!!

But I'm sure I just google them to be honest and get their number when I need it!!

x x