Help With Student Loans - HERE!

melvis

In the past two years I've made one student loan payment when my bonus is paid but been able to claim in back at the end of each year as my total income has been under £15k.

This year due to a higher bonus and overtime my income has been over £15k but I've still been charged too much and want to claim the difference. Are they entitled to take 7% or 9% of my income over £15k?

If it's 7% then I can claim back £82 and if it's 9% then I can claim back £70 and either would be extremely useful at the moment!

martin84

Doghampton wrote: »

Hi - and thanks for your reply

Just got a payroll reply from my employer (finally) and they state that I need to contact HMRC to send them notification to start deductions. I thought that was up to the employer?

no you dont, if you just started with your employer you would fill in a p46, theres a box on that form that you would tick. also if you have just started you would not do anything for 3 months as it can take hmrc upto 3 months to pick you up on their system. if you have been with with them for more than 3 months then call 0870 240 6298 and they will take that info from you

martin84

gozaimasu wrote: »

Yeah but interest is added monthly isn't it?

accrued daily and applied monthly,however what they are saying is it will not be applied to the account until they receive the file detailing how much you paid for the previous year. so you are not charged extra interest

martin84

melvis wrote: »

In the past two years I've made one student loan payment when my bonus is paid but been able to claim in back at the end of each year as my total income has been under £15k.

This year due to a higher bonus and overtime my income has been over £15k but I've still been charged too much and want to claim the difference. Are they entitled to take 7% or 9% of my income over £15k?

If it's 7% then I can claim back £82 and if it's 9% then I can claim back £70 and either would be extremely useful at the moment!

its doubtfull you would get anytrhing back to be honest, as at that time you were over the monthly threshold - £1250. and they will look at you being over the anually threshold. yo would be best contacting 0870 240 6298, as they would have to look into the information etc

melvis

I've wrote to them now requesting the difference between 9% (£54) and the amount they deducted (£129). Worst they can say is no! I'll let you know how I get on

petereverton

My wife starts college in september, am working, we get tax credits and help with the rent,
but we were wondering if she is entitled to any student loans?

Lokolo

petereverton wrote: »

My wife starts college in september, am working, we get tax credits and help with the rent,
but we were wondering if she is entitled to any student loans?

http://www.direct.gov.uk/en/Diol1/DoItOnline/Doitonlinestudentfinance/DG_10035908

Do that and it'll tell you :-)

JustKeepSwimming_2

Hi

I've just received my deferral forms again, but think I'll have to start paying it back soon as the maintenance I (finally) receive from my ex will probably put me over the monthly threshold when comined with my earnings & tax credits. I'm waiting to hear about my tax credits award, so can't do any final calculations yet. My loans are from 1993-6.

I'm confused about how I'll be paying back the loan. On my deferral forms it has my bank account details set up as a direct debit, which the SLC did use to take several payments out of during the past 3 years despite having agreed that I could defer. After several letters to them these payments were refunded back into my bank account & the deferrments continued.

I've been self employed for many years, but am now also employed on a part time basis. The lady I spoke to at SLC said I'd have to have my loan repaid via my employer & not from my own bank account - her reasoning was that I couldn't be both employed & self employed at the same time (sigh :rolleyes: ).

I would much rather the repayments went from my own account, so that I can see what is happening as I have very little faith in the SLC! Can I insist that I make repayments from my own account rather than through my employer? I doubt I'll still be with the same employer this time next year!

Thanks in advance for the advice!

Wiggynut

Hey - I got my letter on Saturday - hoorah!!!
when I called my LA they said they only got access to the application forms about two weeks ago so I was expecting to wait another couple of months!

Assessment of Entitlement to Student Finance for Academic Year 2008/09.

Basic Loan (non-income assessed) £4,855.00
Plus loan subject to income assessment £1,620.00
Less loan substituted for grant £1,260.00
Max loan available: £5,215.00

Maintenance Grant: £2,835.00

That basically gives me £8,050.00 to live on - rent will take most of that, the rest living expenses (in london!! yikes!) - I thought you got about £6,000+ loan for London (no parents and I'm 36) but guess they deduct because you get a grant.
I'll only get £300 per year bursary from the uni too which I think is the lowest amount for Uni's in London - trust me to pick that one! lol

apprently it will be paid in 3 installments
first two being the same and the third is slightly more because it is meant to cover you over the summer as well.

Term 1: 33%
Term 2: 33%
Term 3: 34%

my maths might be off here but my rent could take upto £4,500.00 - £5,500 which will mean I'll only have about 3,000 (+?) to live on - does that mean I'll only have £250 for food, misc, each month???? (I'll probably have to buy some clothing/shoes at least once in the year!)

This is scary!!!!

The_One_Who

You get £8,000 a year, even with London prices that is a lot. I am in Scotland and the maximum loan I can get is £4500, with rent (not including bills) being £3,600 a year!

Are you going to get a part time job during term-time? Or a full time job during the holidays? That will boost your income by quite a bit.

You can easily survive on £250 as long as you buy sensibly and don't go on too many nights out etc.