Help With Student Loans - HERE!

alq3

Hi,

My partner graduated in June/July 17 which means he shouldn't be paying his student loans back until April 2018.

However he started repaying in July 2016.

He switched from Full time learning to part time learning mid way through (same uni, same course, just a simple change from FT to PT)

I have rang the repayments line and been passed from pillar to post and established a couple of things;
- Student finance England put him down as 'WITHDRAWN' when he switched from Full time. Therefore having two graduation dates and two repayment dates.
- After many phone calls with SLC & SFE they finally referred his case to a 'Tier 2 assessor' at SFE to get this incorrect 'withdrawal' changed. This happened no problem and he received a confirmation email from the 'Teir 2 assessor' confirming the changes has been made
- It was then sat with the 'SLC repayments admin team' to update the correct graduation date in order for the refund to be made.
- I have then spoken to someone today at SLC who has advised even though he didn't withdraw from the course and he simply switched from full time to part time he must start repaying the full time loan back as normal.

is this correct?

I understand the FT & PT funding pots are separate but surely he should not have been made to pay his full time loans back before he graduated from the course?

Has anyone been in the situation or can offer advise?

Thanks!

Sophie_Robinson

Hello,

I currently have two student loans (a 2012 3 year undergraduate course and a 2017 PGCE course).

When I start earning over £25,000 in September will I be paying both off simultaneously or will they be merged into one payment of 9% over £25,000?

Many thanks for your help!

Birty2k

Hey everyone. Quick question.

I graduated in 2008 and my current job has never gone over the £21k threshold in any tax year. Sporadically since then I have occasionally paid student loan payments when I have received bonuses, overtime etc, although I still never went over the £21k threshold. Am I entitled to all of these payments back?

Thanks for any help!

Ed-1

Sophie_Robinson wrote: »

Hello,

I currently have two student loans (a 2012 3 year undergraduate course and a 2017 PGCE course).

When I start earning over £25,000 in September will I be paying both off simultaneously or will they be merged into one payment of 9% over £25,000?

Many thanks for your help!

Merged, although they have different write off dates.

Harrogate_lady

Hi My son works in sales for a top worldwide company. He is paid weekly as is the norm for this company. His weekly wage varies considerably for eg when he receives an annual bonus payment.
Student loans calculate his repayments on his weekly wage x 52 I believe so he is paying huge repayments some weeks. EG one weeks salary may be £1500 and another weeks may be £200. But SLC calculator say he earns £1500x52 and take 9% of the total yearly income...when that isn’t his yearly income.
Please can you advise, is this correct?

Savvy_Sue

Surely he's not paying the same amount every week? My colleagues pay variable amounts according to whether they've had an extra payment or not.

ED2018

I read that if there was a month where your monthly salary was below the threshold, but a bonus payment took you over the threshold that month, then you should not have had a loan payment deducted, and therefore, you can reclaim it as the bonus payment is exempt from deductions.

My December monthly salaries have always been over the threshold; however, every December I also receive a bonus payment, and holiday pay (for holidays not taken) taking me even higher above the threshold. The Student Loan Co /HMRC every December, add my monthly salary, bonus payment and holiday pay for December together, and deduct 9% off everything above the threshold- resulting in me being deducted hundreds of pounds that month. Is this right? Should they not just be deducting 9% from my basic December salary, for any amount that is above the threshold..., which would amount to a loan payment of only £34? Going by the above senario, my Bonus payment and holiday pay should not be included when calculating the Student Loan repayment, and therefore I can reclaim these overpayments? Hope that makes sense!

Lokolo

If you are over the threshold then anything above the threshold is taken at 9%. This is based on any taxable pay. Bonus and holiday payments are taxable pay, therefore 9% is due on these additional payments.

Your first paragraph relates to the fact a bonus payment may cause a month to think your salary is above the threshold, but that it was a one off. This would cause student loan payment being taken even though the annual income is below the threshold. This is not the case for you.

ceewash

Rachiedabbler70 wrote: »

Phoned student finance just now and they say they haven't got my p60 on file for either son. I told them when I sent it back but they've clearly lost it. Agreed to send a duplicate early next week.

Can you tell me the number you used to phone. Did you need to give student's security details. I'm having trouble, as a parent, speaking to a person just to see if some documents have arrived.

Birty2k

Hey everyone, I called the SLC on friday, A lovely lady back dated every year since I graduated and I am being paid just over £70 into my bank account this week. Turns out I have never been over the threshold and have paid a little amount each year building up to that figure. Better than nothing, thanks Martin Lewis! :beer: