Help With Student Loans - HERE!

Starrystarrynight1

If you look at the gross pay compared to the taxable pay, the difference should be the amount of the pension contributions. Occupational pension contributions are taken off before tax and NI are taken, saving the employee some deductions. Student Finance need to know how much taxable income was received. If there are no pension contributions and no taxable benefits in kind, the gross and taxable figures should be the same.

Mrs_Arcanum

Starrystarrynight1 wrote: »

If you look at the gross pay compared to the taxable pay, the difference should be the amount of the pension contributions. Occupational pension contributions are taken off before tax and NI are taken, saving the employee some deductions. Student Finance need to know how much taxable income was received. If there are no pension contributions and no taxable benefits in kind, the gross and taxable figures should be the same.

That is just it, there is no difference, between the end of March earnings to date (ETD) and Gross taxable pay to that years P60.

With mine this is very clear, as I do not actually earn enough to pay tax as I work part time.

Starrystarrynight1

Do you still have the final payslip for the year in question (week 53 or month 12)? Sometimes the info on pay statements is a bit more detailed.

Mrs_Arcanum

Starrystarrynight1 wrote: »

Do you still have the final payslip for the year in question (week 53 or month 12)? Sometimes the info on pay statements is a bit more detailed.

The last monthly pay slip does show all the pension deductions. Had to send this off with the P60.

This is why the way they ask the question on the student loan application is not very helpful. There seems to be no allowances for company pension scheme payments, only private ones.

My Husbands was just the same, taxable pay is before pensions are deducted.

stulaunch

Starrystarrynight1 wrote: »

If you look at the gross pay compared to the taxable pay, the difference should be the amount of the pension contributions. Occupational pension contributions are taken off before tax and NI are taken, saving the employee some deductions. Student Finance need to know how much taxable income was received. If there are no pension contributions and no taxable benefits in kind, the gross and taxable figures should be the same.

It is the tax relief bit that I find confusing. I can see the figure she has paid in pension for the year on her week 52 payslip. But does the taxable pay figure include her 20% pension tax relief.
On my private pension, I use the gross payment, whick is easy to understand.
Does the fact that she isn't taxed on her pension payments, add up to same as tax relief added.
Sorry for being so stupid! but just want to be sure I am putting the correct figures in.

Mrs_Arcanum

stulaunch wrote: »

It is the tax relief bit that I find confusing. I can see the figure she has paid in pension for the year on her week 52 payslip. But does the taxable pay figure include her 20% pension tax relief.
On my private pension, I use the gross payment, whick is easy to understand.
Does the fact that she isn't taxed on her pension payments, add up to same as tax relief added.
Sorry for being so stupid! but just want to be sure I am putting the correct figures in.

There should be a point in the form where you can put pension payments. Use the week 52 pension year to day figure in this box. Then put the taxable pay to date from the P60 in that box. Then at least you are being clear about what has been paid and what the P60 says, plus you have the appropriate proof to back this up.

2narmy

Hi all

Looking for info on where to start or any advice on funding my sons further education at Berklee college of music.

It looks like a minefield so any advice would be greatly appreciated.

Chris

agrinnall

Are you a UK resident? This is a UK-based site and deals primarily with UK queries. If you are, then you won't get any government funding for attending a US college, and I suspect that even the Valencia campus wouldn't be eligible for SFC funding.

For those who don't know Berklee College (as I didn't):

https://www.berklee.edu/

sheramber

Berklee College gives this information about funding

https://www.berklee.edu/paying-for-your-education

He won't get student finance from UK. it would have to be private funding or scholarship

http://www.fulbright.org.uk/going-to-the-usa/undergraduate/educationusa-advice/funding/loans

https://www.savethestudent.org/study-abroad/america/funding-study-american-university.html

Freddie_Goodwin

I'm a current student in year 3 of a 3 year degree, i.e. I haven't started repaying my student loan yet. When I log into my Student Finance England account I can see the total outstanding balance of my loan but I can't see any detail behind this. Why isn't there an online statement covering the period of my loan showing each loan transaction and each interest transaction?