Repaying Student Loans 2009/10 guide discussion

Chrisbdh

My 2004 course was a DHE (is that a PGCE?) and that loan is already being deducted, 1996 course was a DHE also and the SLC have said nothing about paying one off first. They informed me that they are two separate loans?

MrsManda

Chrisbdh wrote: »

My 2004 course was a DHE (is that a PGCE?) and that loan is already being deducted, 1996 course was a DHE also and the SLC have said nothing about paying one off first. They informed me that they are two separate loans?

A PGCE is a Post Graduate Certificate of Education so not the same as a DHE (Diploma of Higher Education?).

Have you considered running a budget and seeing how you can decrease your spending? The Debtfreewannabe board is a good place to look for ideas.

If you are going to struggle to repay both sets of loans at the same time you need to contact the SLC immediately to see if you can work out a payment schedule they're happy with and you can afford.
You may need to provide evidence of your income and outgoings to prove that you cannot afford the current repayments.
http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867066&_dad=portal&_schema=PORTAL

Poolie

As your above the threshold and the loans were taking out under different repayment terms then you would be liable for both. You could try contacting SLC but I have a feeling you may be stuffed.

PThomas_2

My partner took out a student loan for a course a number of years ago (Around 10). In all that time she only earnt > £15k for only a few months before changing jobs. She now has 2 part time jobs and is well under the £15k annual limit

What happens if she never earns more than £15k per annum again?

melancholly

PThomas wrote: »

My partner took out a student loan for a course a number of years ago (Around 10). In all that time she only earnt > £15k for only a few months before changing jobs. She now has 2 part time jobs and is well under the £15k annual limit

What happens if she never earns more than £15k per annum again?

if she never earns above the threshold, she never pays the loan back.

PThomas_2

melancholly wrote: »

if she never earns above the threshold, she never pays the loan back.

And I presume if she ever starts earning £15K she then just pays 9% above that for the duration she is earning above the threshold?

At what point is the loan written off? (Assuming not paid in full)

melancholly

PThomas wrote: »

And I presume if she ever starts earning £15K she then just pays 9% above that for the duration she is earning above the threshold?

At what point is the loan written off? (Assuming not paid in full)

yes that's pretty much it! the time it gets written off depends on when she took it out.

http://www.moneysavingexpert.com/loans/student-loans-repay#when
it's worth reading the whole article above on the main site, but that's the bit with the wiping out the loan details.

fulhamnonny

Hi,

I've recently (7 weeks ago) changed jobs, but have noticed that in my past 2 wage slips my student loan has not been deducted. I should be paying it back as I'm earning over the threshold.

I gave my new employers my P45 which as I understand indicates if you are to pay back student loan.

Who should I contact to ask about getting the payments going?

Also is it worth me making extra payments to cover what is not being taken out of my wages?

Thanks

Poolie

On your P45 was the Student Loan Deductions box tick?

Ask your employer if they have received an SL1 (Start Notification) for you? If not, have a word with SLC to check that HMRC have updated their employers details for you and request the SL1 be issued.

If you want to work out what you should have paid and make the payments directly to SLC that is up to yourself.

(Gross Monthly Salary - 1250) x 9% - Round Down to the Nearest £ will help you work out what should have been deducted. You can call SLC with a bank card and they will happily take the money for you (as long as you do it with a debit card and not a credit card as they charge extra).

Otherwise you will only have missed a couple of months.

fulhamnonny

Thanks Poolie.

On my P45 the box is ticked.

I will check with HR and the SLC if a start notice has been received, and try and get one issued before my next payslip.



I've made extra payments to the SLC before, for periods when I wasn't working and worked out roughly how much I should have paid each month.