Help With Student Loans - HERE!

Oldernotwiser

student_advisor wrote: »

Actually, quite a lot of my lone parents work part-time and claim WTC, hence the suggestion.

None of my clients were, but perhaps that's the IOW for you!

student_advisor

I'm seeing more & more doing 16 hours now esp. with the income support changes & their children getting older

problem is now that our local council don't know what to do with ALG & housing benefit/LHA, I've written no end of letters explaining it!

jules23958

I have had a lot of bad health and bad advice with not having deferred repayments with the result I have around £15k in student loans still to pay. I am now 50 and as I went to university in the years 1994-8 I understand that I may actually be in a position where I no longer have to pay? Is this correct? I know the new loans are at retirement age.

jules23958

I was 36 when I started my course

Oldernotwiser

As you were under 40 when you started your course, your loans will be wiped out when you are 50 or after 25 years, whichever is sooner.

skintassistant

Hi hope someone can help me.

I completed my application for support for my final hons year (after a break in education) with SAAS and thought I had selected the income assessed loan for my course in london.

After completing the application I sent proof of my parents income to SAAS. I have now received my award notice but have only been offered a low amount and no bursary.

Is it possible for me to request the income assessed loan as SAAS has receieved the proof of income? I have tried to call SAAS but the line is engaged and seem to have little luck via their email system.

thanks

K

danielson81

Hi there,

Dont know if anyone can help, although its not a major problem.

Whats the situation when you have two jobs, one of which is overthe £15k threshold and is being correctly deducted, whereas the second is low paid, under the threshold and not being deducted.

Basically I do a few hours a week for a local charity, and they pay me say £100 a month. They received a notification to start deductions when I started a year ago, however as I am under the £1250 a month threshold they are correctly not deducting anything.

So at the end of the year, I have earnt say:
Job 1: £18000 - (9% of £3000 deducted: £270)
Job 2: £1200 - 0% deducted

Total: £19200 - 9% deducted of £4200 should be £378.

Should I contact the SLC and pay the £108 difference?

Thanks for any help.

EDIT: Found this, doesn't really answer the question though! http://www.hmrc.gov.uk/students/more_than_one_job_6_6.htm

Lokolo

danielson81 wrote: »

Hi there,

Dont know if anyone can help, although its not a major problem.

Whats the situation when you have two jobs, one of which is overthe £15k threshold and is being correctly deducted, whereas the second is low paid, under the threshold and not being deducted.

Basically I do a few hours a week for a local charity, and they pay me say £100 a month. They received a notification to start deductions when I started a year ago, however as I am under the £1250 a month threshold they are correctly not deducting anything.

So at the end of the year, I have earnt say:
Job 1: £18000 - (9% of £3000 deducted: £270)
Job 2: £1200 - 0% deducted

Total: £19200 - 9% deducted of £4200 should be £378.

Should I contact the SLC and pay the £108 difference?

Thanks for any help.

Yes you should, but I doubt they will 'demand' it. I personally wouldn't worry about. You could ring them up and find out, however at this time in the year phoning them could take a long time.

mulmul

I got a letter from SLC every April on the new balance on the repayment loan.

However the letter always very brief , just stated the Balance brought forward and the interest charge for that year

there isnt any detailed explainations of how they get to the interest rate total.

The total interest for last year was around £664 which is about £55 month which seems not much compared to the £18k i owe them

but it would be nice of them to show each month's interest separately rather than just one sum on the letter, so I would like to know how do they calculate the interest rate and is there any tool online for that?

Lokolo

mulmul wrote: »

I got a letter from SLC every April on the new balance on the repayment loan.

However the letter always very brief , just stated the Balance brought forward and the interest charge for that year

there isnt any detailed explainations of how they get to the interest rate total.

The total interest for last year was around £664 which is about £55 month which seems not much compared to the £18k i owe them

but it would be nice of them to show each month's interest separately rather than just one sum on the letter, so I would like to know how do they calculate the interest rate and is there any tool online for that?

I cannot remember the rate, but to work it out:

[(Amount Owed) * (interest rate / 100) ] / 12

e.g. 15000 @ 1% =

[15,000 * (1 / 100) ] / 12 = £12.50 a month.