Help With Student Loans - HERE!

EV1

Ed-1 wrote: »

There is the PGCE option for those who are repaying a mortgage-style loan and an income-contingent loan:

Hi Ed-1. Thanks so much for your reply. The PGCE option was exactly my situation! I selected to pay off my mortgage style loans first (1995, 1996, 1997) and paid a fair bit of these off in the past (they are now with Erudio). However, quite a few years ago now my situation changed and I deferred these payments. I was of the understanding that I wouldn't have to pay any of the income contingent PGCE loan (still with the Student Loans Company) until after the mortgage style loans were fully paid off, even if these mortgage style loans were deferred. Do you know if I was incorrect? It's not that clear on the link above. As I said previously, this has all come out of the blue, the last correspondence I had from the Student Loans Company was in 2013 and I've never paid anything off previously towards my PGCE loan as far as I'm aware. They are now insisting that my employer deducts a contribution from my salary. Thanks so much for your help!

Ufito

Hello! Wondering if anyone can help, I have a plan 1 student loan.
I earn around £20000 a year, but I earn most of this amount only over six month of the year, however some months , my student loan payments will come at around £700 , I understand that I will be going over the threshold bit if the £20000 would have been paid over the whole year I would have paid a lot less...
Is there a way to claim some of that money back?

Ed-1

Ufito wrote: »

Hello! Wondering if anyone can help, I have a plan 1 student loan.
I earn around £20000 a year, but I earn most of this amount only over six month of the year, however some months , my student loan payments will come at around £700 , I understand that I will be going over the threshold bit if the £20000 would have been paid over the whole year I would have paid a lot less...
Is there a way to claim some of that money back?

No. Like National Insurance Contributions, student loan thresholds apply to a pay period. If you are paid monthly then the monthly thresholds apply. The only time you can reclaim is if you earn under the annual threshold over the year.

Ufito

Thanks you Ed

FtbDreaming

Afyer reading this thread I logged i to slc and my tax account and it looks like im due £225 refund from when ive paid during the years but not earnt the threshold over the year. Im goimg to ring then in the morning so fingers crossed i get my refund.

I'm working extra hours now so ill no doubt pay more before april but without reaching the threshold so I'll habe a nice little bit in april to request back too!

FtbDreaming

Was on the phone for 15 minutes and got a refund of £231. Theu did try to fob me off saying i earnt over the threshold on a weekly basis some weeks but i stuck to my guns that i earnt under annually then she looked and refunded me straight away!

Unsuregraduate

Hi,
I currently have a full time job and earn under the threshold (£25,000) for repaying a Plan 2 student loan. However, I am looking to get a part time job alongside this, depending on how many shifts I work a month I could earn over £25,000 from both jobs (companies not linked). From what I have seen online so far it seems that I would only pay back if I earnt over 25,000 from that one job? Is this right or do you pay from the combined total?
Thanks

Ed-1

Unsuregraduate wrote: »

Hi,
I currently have a full time job and earn under the threshold (£25,000) for repaying a Plan 2 student loan. However, I am looking to get a part time job alongside this, depending on how many shifts I work a month I could earn over £25,000 from both jobs (companies not linked). From what I have seen online so far it seems that I would only pay back if I earnt over 25,000 from that one job? Is this right or do you pay from the combined total?
Thanks

Firstly the plan 2 threshold is now £25,725 (going up to £26,575 next April).

Unless you have to fill in a tax return, you get the benefit of the threshold in each job - you have to earn over per job.

StudentEmma

Hi, I’m an undergrad but work over summer and my employer has been taking student loan repayments. I shouldn’t be repaying as it is my first undergrad degree plus I didn’t earn even near the threshold. On top of that the money didn’t even reach SFE. I’m trying to get a refund but my employer says HMRC has my money and HMRC says it’s my employer. Any help would be very much appreciated.

sheramber

Have you contacted the student loan company?