Help With Student Loans - HERE!

silvercar

jackieblack wrote: »

Not true. Not unless you can prove total estrangement.

DD's BF is in this position, he has not lived with either parent for over 6 years (parents split when he was a child and he was left with Grandmother when mothers second marriage broke down) but, although he gets no financial support from either parent, because he has infrequent contact with his mother (Christmas, birthdays etc) his student finance is based on her income meaning he only gets the minimum amount, which doesn't even cover his rent

I wasn't clear. I'll try again.

Unless you can prove that you have independent means for over 3 years, S-F will assess your loan according to the income of the parent or parents that you live with. If your parents are together, they will assume that is the income to consider. If you live with only 1 of your parents, they take the income of that household and ignore the income of the other parent. If you don't live with either parent but cannot prove estrangement, they will still expect to take into consideration the income of one of the parent's households.

If an adult legally becomes your guardian or adoptive parent, they will use that household income.

jackieblack

silvercar wrote: »

If you don't live with either parent but cannot prove estrangement, they will still expect to take into consideration the income of one of the parentd.

Precisely. And if that parent refuses to give the required information it's the student that's s*****d over, again!

Poldev

Hi, can you advise me please? I had a student loan from 2000 to 2003. I am 64 and have only made a couple of payments having never earned above the threshold. I have inherited my dad's flat and am about to sell it. Will I have to repay the debt?

maturelearner

I started uni in 2009 (had to take a sabbatical in year 1 due to ill health) and graduated in July 2014. I have two 0 hour contract jobs and likely will jointly earn around the £17,300 threshold for student loan repayment this tax year combined income. When I started both jobs they asked did I graduate before April 2014 to which the answer was "No" but I know this is the year I should begin repayments if I earn over the threshold.


How do I go on for student loan repayment?

maturelearner

Poldev, my very limited knowledge is that student loan repayment is simply to do with income earned I don't think you'll have to repay but I stand to be corrected as I could well be wrong.

Helix

maturelearner wrote: »

I started uni in 2009 (had to take a sabbatical in year 1 due to ill health) and graduated in July 2014. I have two 0 hour contract jobs and likely will jointly earn around the £17,300 threshold for student loan repayment this tax year combined income. When I started both jobs they asked did I graduate before April 2014 to which the answer was "No" but I know this is the year I should begin repayments if I earn over the threshold.


How do I go on for student loan repayment?

It should just happen automatically. SLC notify HMRC who then notify your employer. I think the reason they ask on the P46 is due to the fact this process can take some time, so if you are already in repayment then they know to take payments straight away before HMRC get round to notifying them.

Savvy_Sue

maturelearner wrote: »

I started uni in 2009 (had to take a sabbatical in year 1 due to ill health) and graduated in July 2014. I have two 0 hour contract jobs and likely will jointly earn around the £17,300 threshold for student loan repayment this tax year combined income. When I started both jobs they asked did I graduate before April 2014 to which the answer was "No" but I know this is the year I should begin repayments if I earn over the threshold.


How do I go on for student loan repayment?

The deductions work like NI: if you're over the threshhold for SL repayment in a given month in a given job then SL is deducted, and if you're not you're not.

However, at year end YOU need to check whether your combined taxable income from all sources takes you over the SL repayment threshhold, and if it does, then a repayment is due. What I'm not sure about is whether your notify HMRC to do a self-assessment, or SL. I think I'd go for HMRC, because it's possible that even if SL was deducted in one month, over the course of the year you are NOT over the threshhold for repayment, and in that situation I believe you'd get it back. In that respect it's unlike NI ... Also doing two jobs on zero hours, you may end up paying some tax during the year which at the end of year you don't actually owe.

maturelearner

Thanks all. I believe I will be owed tax back from one role just wasn't sure about Student Loan Repayments.

foofi22

Hi

My OH got her 'final annual statement' yesterday, but something doesn't make sense that I hope someone can answer.

She makes payments through PAYE and has done for several years now.

Additionally, for a short time she was director of a company - not any more. The company paid some of the balance of her loan, her accountant completed a self-assessment form.

On the most-recently received statement, against where it says
"HM Revenue & Customs (Self Assessment)" it says the credit is £0.00, which makes sense as the previous company directorship has ended and not contributed to the loan.

However there is no reference to any of her payments from PAYE for the year, is this normal?

The statement is dated from April 2014 to January 2015

Many thanks

Jacko9

Hi All,

I graduated in 2010 went into work late 2010 earning about £18k and kept the job up until 2014. After that I went on a one years working/holiday.

I had spoken to SLC when I first got the job to tell them and they said they will sort it from there. The first statement I got afterwards said repayment from PAYE £x amount (I can't remember what it was). So I thought everything was fine and dandy. However I came back from my travels in mid April 15' and found a statement a couple of days ago saying I owe the full amount still, nothing was taken when I was in work. After frantically checking the recent statement and online I can only think that I must have mis-read the original statement being a 'payment' but really it was the interest being brought forward from the previous statement.

I have been so stressed out about how to even approach the situation and the repercussions that are going to happen. I feel unbelievably stupid and disappointed in myself. I'm not a payment dodger or trying to get out of paying, I genuinely thought I was paying it off and want to start straight away.

Is anyone able to advise what the likely scenario is going to be, I am going to get hit with a massive upfront payment? Should I just pay off what I can on a card payment and then phone them once I get into employment again?