Help With Student Loans - HERE!

Dawly

Evening. Do you know how it works with overpayments. Slc are now saying they can't consider certain obligations because they are in my husbands name and they made an internal error. When I started course in 2010 I was a single parent, moved in with partner in sept 2011 and subsequently married this year. For 12/13 we used council tax, personal loan and car insurance as our financial obligations. In 2010 I was living with my mum and didn't have my own council tax to pay however I was named on car insurance and the Loan was in my name but they are not considering these either. Any idea how this all works? They taken all my entitlement away for April instalment to recover overpayment and that leaves me with no childcare etc for my last 3 months of study. I'm very worried and don't understand why they suddenly changed their mind- I told them clearly every time I sent evidence whose bill was whose prior to us moving into together and that these are bills we both now share. They said that was fine but now saying it's not. Any help appreciated. If I'm on wrong thread I apologise- new to this! :-)

KVet

Random question about Student Loans. When they work out how much you have to repay from your gross income before tax, is this before or after the personal allowance is deducted? Cheers!

atypical

KVet wrote: »

Random question about Student Loans. When they work out how much you have to repay from your gross income before tax, is this before or after the personal allowance is deducted? Cheers!

Student loan repayments are taken from your net pay i.e. after tax.

The calculation of how much you need to repay is based on your gross salary i.e. before tax.

KVet

I am still confused though! Is the amount they use to work out your 9% repayment (yearly, minus the £16k thingy) your amount of oay that you are allowed to be taxed on (eg after the personal allowance has been taken off before tax is taken off). Am I explaining this oddly?

atypical

KVet wrote: »

I am still confused though! Is the amount they use to work out your 9% repayment (yearly, minus the £16k thingy) your amount of oay that you are allowed to be taxed on (eg after the personal allowance has been taken off before tax is taken off). Am I explaining this oddly?

I'm not sure what you're asking.

Imagine you're paid £25k.

You have to pay 9% on anything earned above the approximately £17k student loan threshold. £25k - £17k = £8k which is what the 9% you need to repay is calculated using = £720 annual student loan repayment.

After tax your £25k is approximately £20k take-home. The £720 annual student loan repayment is taken from this £20k.

vashtijoy

Hi, I have a quick question. My 1996 loan has been sold to Erudio. They have now sent me a deferment pack which demands that a direct debit be set up. They claim this was part of my original agreement with the SLC. My loan has been deferred since 1996 because of illness and I have never maintained a DD to them as I have never made regular payments to them.

*Is* this an alteration of my original contract terms, and can I refuse?

nads75

I have five loans from 1994,95,96,97 and 98. I assume I will have them written off at age 44, 45, 46, 47 and 48 respectively, (well maybe not the last one as it has different rules) if I dont earn over the threshold. What I worry about in my new Erudio pack is that they ask for my gross income which includes my husbands salary? This was never the case before and only included my pay sheets. Do I have to now include my husbands pay as it will take me over the threshold?

ericctheking

Be very careful people.

It sounds like what Erudio are trying to pull off is this;

Pre-1998 loans should be put on your credit record if they are in defult (this is in the terms and conditions)

The deferment forms that Erudio send out state that;
On page 5 (underneath Certificate and Warranty signature box):

WARNING:

In accordance with the terms of your original agreement We have the right to undertake checks to confirm you are eligible for deferment.
Accordingly therefore, by submitting this application you confirm that you consent for Erudio to perform relevant checks at CRAs and Fraud prevention agencies.
If your application for deferral is accepted, information that you have a deferred loan will be registered with CRAs.

Erudio will argue that you have made a new agreement with them.

People are more likely to pay (when even not entitled to) if they find outstanding loans effecting their credit report.

This is just one example of their sharp practice along with asking for data they aren't entitled to.

I looks like they are trying to create a new agreement with you to (which puts you in a much worse position) replace the old one.

It might be a good idea to not use the forms to defer and send evidence yourself with a cover letter.

ericctheking

sorry about a mistake in the above post.

Student loans should ONLY be put on your credit record if they are in default.
Loans in deferment are NOT to be reported.

Erudio are trying to trick you into letting them put loans that are not in default on your record is what I'm trying to say.

pbs84

nads75 wrote: »

Do I have to now include my husbands pay as it will take me over the threshold?

No it's only your income that counts.