Repaying Student Loans 2009/10 guide discussion

Oldernotwiser

BFace wrote: »

Hi I have a question that may seem stupid but I am hoping you can help me..

Is inner London weighting included in your yearly income?

Yes.......

BFace_2

Thank you - I suspected so :-P

Rufff

I just wondered if anyone could clarify this for me; I have just started uni and am coming up to the end of my first year and took a tuition & maintenance fee loan from SFE.

With these changes coming in though will I be repaying under the current system of 9% of anything over £15k for 25 years? at base rate + 1% or RPI?

Jonny14

I have a student loan for 1998 - with the Government planning to increase the threshold before payments are made - do you know if this will apply to all students or just new ones? Thanks.

Oldernotwiser

Jonny14 wrote: »

I have a student loan for 1998 - with the Government planning to increase the threshold before payments are made - do you know if this will apply to all students or just new ones? Thanks.

All the new rules will only apply to students starting in 2012 or later - not retrospectively. Your threshold will remain at £21,000.

Poolie

Rufff wrote: »

I just wondered if anyone could clarify this for me; I have just started uni and am coming up to the end of my first year and took a tuition & maintenance fee loan from SFE.

With these changes coming in though will I be repaying under the current system of 9% of anything over £15k for 25 years? at base rate + 1% or RPI?

You will be repaying under the current system. The only think that may change is the threshold amount for repayment.

angelcakes_3

I have just had my deferment this year rejected as SLC say I earn over 2,203 per month, I have had a big jump in wages to approx 1600 per month but with child benefit and child tax credits it goes over 2,203 can they include my benefits for my children and the tax credits pay my child care. Little bit annoyed as I can't afford the repayments they are asking every penny is counted for

Oldernotwiser

angelcakes wrote: »

I have just had my deferment this year rejected as SLC say I earn over 2,203 per month, I have had a big jump in wages to approx 1600 per month but with child benefit and child tax credits it goes over 2,203 can they include my benefits for my children and the tax credits pay my child care. Little bit annoyed as I can't afford the repayments they are asking every penny is counted for

You may, of course be a lone parent but, if you aren't, could your partner claim the CB?

rubix_76

I have some pre-98 student loans, up till now I have always been able to defer as I've always earned below their threshold. my pay rises each year have been steady, but not big jumps, but consistently below the threshold where I would need to pay. Last year as long as I earned below approx 2250 pm I could defer. Now each year this threshold has increased year by year I assume following inflation. This year it is now lower than last year 2204 pm I believe.

Guess what. . . . I am something like £2.91 over this threshold and so now have to pay over £150 pm. I am so gutted as this is a big jump, and I'm not sure how I am going to be able to afford it. I have one child of school age and one still at nursery.

I know it is unlikely but is there any way I can get out of this.

Oldernotwiser

rubix_76 wrote: »

I have some pre-98 student loans, up till now I have always been able to defer as I've always earned below their threshold. my pay rises each year have been steady, but not big jumps, but consistently below the threshold where I would need to pay. Last year as long as I earned below approx 2250 pm I could defer. Now each year this threshold has increased year by year I assume following inflation. This year it is now lower than last year 2204 pm I believe.

Guess what. . . . I am something like £2.91 over this threshold and so now have to pay over £150 pm. I am so gutted as this is a big jump, and I'm not sure how I am going to be able to afford it. I have one child of school age and one still at nursery.

I know it is unlikely but is there any way I can get out of this.

Would it be possible for you to change to working a 4 or 4.5 day week? That's what I did when I was in the same position.