Repaying Student Loans 2009/10 guide discussion

Lincolnite

Hi,

Hoping someone can help me. I graduated in 2007 (after 4 years of study) - I had a job (less than £15k) in July 2008 for 3 months, before moving to London and getting a full time position (over £15k - started in Jan '09). I have not yet had any payments taken for my student loan, nor have I had any correspondence from them regarding starting repayments.

I have tried using the website to alert them to it, but I can't find (or retrieve) my username/ password/ ID, etc...

Do I just wait for them to contact me? (All correspondence from them previously has always been sent to my parent's house - which was my permanent address throughout my studies - but they have not received anything recently).

Thanks in advance :-)

DreamerV

Lincolnite wrote: »

Hi,

Hoping someone can help me. I graduated in 2007 (after 4 years of study) - I had a job (less than £15k) in July 2008 for 3 months, before moving to London and getting a full time position (over £15k - started in Jan '09). I have not yet had any payments taken for my student loan, nor have I had any correspondence from them regarding starting repayments.

I have tried using the website to alert them to it, but I can't find (or retrieve) my username/ password/ ID, etc...

Do I just wait for them to contact me? (All correspondence from them previously has always been sent to my parent's house - which was my permanent address throughout my studies - but they have not received anything recently).

Thanks in advance :-)

Hi, I have a student loan, and started an over 15k job in jan 08. I'm wondering if, in your case, they're not collecting because you're obviously unlikely to earn 15k by the end of this tax year, as you've only been earning the higher amount for 3 months of the tax year. However, I remember also reading that they divide 15000 by 12, and if you earn more than £1250 gross in a month, they'd collect back a percentage of the excess. That makes sense, as on months where I have backdated pay, a fair bulk of it goes to repaying the loan, but on other months, they only take £3. I have all my payslips at work, and if you want, I can check tomorrow how long they took to start collecting off their own back (since I didn't contact them).

Poolie

Lincolnite wrote: »

Hi,

Hoping someone can help me. I graduated in 2007 (after 4 years of study) - I had a job (less than £15k) in July 2008 for 3 months, before moving to London and getting a full time position (over £15k - started in Jan '09). I have not yet had any payments taken for my student loan, nor have I had any correspondence from them regarding starting repayments.

I have tried using the website to alert them to it, but I can't find (or retrieve) my username/ password/ ID, etc...

Do I just wait for them to contact me? (All correspondence from them previously has always been sent to my parent's house - which was my permanent address throughout my studies - but they have not received anything recently).

Thanks in advance :-)

When you were changed employers in 2008 can you remember if the student loan box was ticked on the P45? If you completed a P46 did you tick that you had a student loan?

Best thing to do is to contact Student Loans and they will get in touch wiht HMRC to get the repayments sorted. It may be an issue with your tax record at HMRC.

Poolie

DreamerV wrote: »

Hi, I have a student loan, and started an over 15k job in jan 08. I'm wondering if, in your case, they're not collecting because you're obviously unlikely to earn 15k by the end of this tax year, as you've only been earning the higher amount for 3 months of the tax year. However, I remember also reading that they divide 15000 by 12, and if you earn more than £1250 gross in a month, they'd collect back a percentage of the excess. That makes sense, as on months where I have backdated pay, a fair bulk of it goes to repaying the loan, but on other months, they only take £3. I have all my payslips at work, and if you want, I can check tomorrow how long they took to start collecting off their own back (since I didn't contact them).

Student Loan calculations are based monthly salary. YOu can claim a refund from SLC if you have been under the £15,000 threshold for the whole year.

DreamerV

If I did this, would I get back any interest on the money that's been held by SLC? It would also be going back to 07/08 tax year, so I'm not sure if it's too late.

Lincolnite

DreamerV wrote: »

Hi, I have a student loan, and started an over 15k job in jan 08. I'm wondering if, in your case, they're not collecting because you're obviously unlikely to earn 15k by the end of this tax year, as you've only been earning the higher amount for 3 months of the tax year. However, I remember also reading that they divide 15000 by 12, and if you earn more than £1250 gross in a month, they'd collect back a percentage of the excess. That makes sense, as on months where I have backdated pay, a fair bulk of it goes to repaying the loan, but on other months, they only take £3. I have all my payslips at work, and if you want, I can check tomorrow how long they took to start collecting off their own back (since I didn't contact them).

Ah if you could that would be great - thanks! :-)

Lincolnite

Poolie wrote: »

When you were changed employers in 2008 can you remember if the student loan box was ticked on the P45? If you completed a P46 did you tick that you had a student loan?

Best thing to do is to contact Student Loans and they will get in touch wiht HMRC to get the repayments sorted. It may be an issue with your tax record at HMRC.

I am sure I ticked the box for student loans for both jobs - I will definitely try again to contact them to get it sorted - thanks :-)

Poolie

DreamerV wrote: »

If I did this, would I get back any interest on the money that's been held by SLC? It would also be going back to 07/08 tax year, so I'm not sure if it's too late.

You should write in and complain. You will need to provide your P60's for the tax year or payslips showing you were onver the £15k threshold. SLC should be able to do an account adjustment for the interest you should have been charged.

DreamerV

Lincolnite wrote: »

Ah if you could that would be great - thanks! :-)

Hi Lincolnite....I checked tonight (just got home from work) and I started work January 2008. They took no loan out January 31st payslip, but they were fairly on the ball, and took out money end of February 2008 payslip.

V

sghughes42

My girlfriend has an outstanding Student Loan from the 90s. She's recently started her first well-paid job since graduating. She has just got her February pay-slip and has noticed that a Student Loan deduction has been made from it. She's confused as to why this has happened - can anyone explain based on the following circumstances:

Started Uni in 1994, completing a BA in 1997 and going on to complete an MSc the following year. She took loans out for all the years she was at uni. However, the Student Loan article on here suggests she should only have payments taken direct for loans from 1998 onwards.

She did study towards a B. Nurs. from 2003 but didn't complete the course and took no loans out during this period. She did get a bursary however.

From what we can tell she falls in to the pre-98 course start date for the loans and isn't over the £25k threshold for repaying those loans anyway. She holds a current deferment for the loans she does have.

Does the fact she started a course after 98 mean the way she repays her loans has been changed, even though she didn't take a loan out during that course?

Have the rules changed for pre-98 loans?

Or has someone in Payroll / SLC made a muck-up?

And what should she do about it?