Help With Student Loans - HERE!

muthumadhu

Hai,
I am muthu.what's the deal with a loan for my part time education?

Oldernotwiser

muthumadhu wrote: »

Hai,
I am muthu.what's the deal with a loan for my part time education?

Quite simple - there aren't any!

(If you ask a fuller question you'll get a fuller reply!)

Curiousity

Hi, I was wondering if anyone can advise what I should do next.

I've told SLC 3 times now where I live, where I work and that I am earning over the threashold. They still aren't taking any money from me!

They sent me a letter saying that HMRC had informed then that I was now working and would start paying. On the next payslip I wasn't paying towards my loan!

I'm getting really bored of chasing them to pay them money. I don't want to pay the money off in lumps - because I shouldn't have to! (Is money taking off your pay taken before tax? Don't want to lose that benefit).


What next?

Thanks!

MrsManda

Curiousity wrote: »

They sent me a letter saying that HMRC had informed then that I was now working and would start paying. On the next payslip I wasn't paying towards my loan!

It's not your job to chase them. Providing you've given them all the information they need to take payments (address change etc...), it is the HMRC's responsibility to contact your payroll department and arrange repayments. Your letter saying that the HMRC knows about the need for repayment should be enough to make sure you won't have to pay backpayments. HERE is information on repayment through PAYE and FAQs

bobbyjohn50

Hi I am kind of struggling with the concept of paying out so much for my son, whilst I understand that he is not entitled to any extra support I am concerned that next year my daughter will also go and will be costing me the same. I have heard that once you pay for one child the second can get full funding is that true?
Thanks

Oldernotwiser

bobbyjohn50 wrote: »

Hi I am kind of struggling with the concept of paying out so much for my son, whilst I understand that he is not entitled to any extra support I am concerned that next year my daughter will also go and will be costing me the same. I have heard that once you pay for one child the second can get full funding is that true?
Thanks

No it's not, but your contribution is considered to be split between the two of them. Your contribution need not be enormous, many people manage on their loan and a part time job, although a regular allowance is useful. Don't forget the money you'll be saving by not having to be keeping them at home; this can be quite a substantial saving.

Miss-spent_2

Oldernotwiser wrote: »

No it's not, but your contribution is considered to be split between the two of them. Your contribution need not be enormous, many people manage on their loan and a part time job, although a regular allowance is useful. Don't forget the money you'll be saving by not having to be keeping them at home; this can be quite a substantial saving.

I agree with this. For one year I had two sons both at university but this made no difference to anything (although it may be earnings related). Now down to one son but it is easier to give him a monthly allowance (£250 in my case) and leave him to sort the rest. He has a weekend job, takes out the loan and does other paid bits and pieces such as student ambassador. My contribution feels less now than school dinner money, trip money, pocket money, food money etc.

Oldernotwiser

Miss-spent wrote: »

I agree with this. For one year I had two sons both at university but this made no difference to anything (although it may be earnings related). Now down to one son but it is easier to give him a monthly allowance (£250 in my case) and leave him to sort the rest. He has a weekend job, takes out the loan and does other paid bits and pieces such as student ambassador. My contribution feels less now than school dinner money, trip money, pocket money, food money etc.

Thanks for confirming my thinking on this; some people genuinely seem to think that having a teenager living at home costs nothing! (I bet your utility bills have gone down as well!)

R2D2_2

Hi, I have a question relating to Student Loans and filling out my first self assessment tax return. Question 1 on my tax return asks:

If you received notification from the Students Loan Company that repayment of an Income Contingent Student Loan began before 6 April 2009 put 'x' in the box.

I don't exactly understand this question, and the accompanying notes don't really help. My circumstances are that I took out a S.L in September 2001, and it is an income contingent loan, but I have yet to make my first repayment ( although I receive annual letters notifying me of the total amount owed every year ).

Since becoming self employed I am now about to complete my 1st tax return so simply want to know....

Do I put an 'x' in the box or not?

Thanks in advance for any assistance offered.

HopeAndDriftWood

R2D2 wrote: »

Hi, I have a question relating to Student Loans and filling out my first self assessment tax return. Question 1 on my tax return asks:

If you received notification from the Students Loan Company that repayment of an Income Contingent Student Loan began before 6 April 2009 put 'x' in the box.

I don't exactly understand this question, and the accompanying notes don't really help. My circumstances are that I took out a S.L in September 2001, and it is an income contingent loan, but I have yet to make my first repayment ( although I receive annual letters notifying me of the total amount owed every year ).

Since becoming self employed I am now about to complete my 1st tax return so simply want to know....

Do I put an 'x' in the box or not?

Thanks in advance for any assistance offered.

No, because you didn't start making payments before the 6th April 2009.