8 years post grad and still no SLC loan repayments - wierd?

seasick_steve_2

Hi

I started an undergraduate course in '98, graduated in '01 and did a Master's course between '04 - '05. I have an outstanding student loan of approx £16k and have been in full time employment earning over the threshold for repayment since 2006.

I've never had a student loan payment taken from my wages! Frankly, I've been in no rush to alert the Student Loans Company that they could be collecting it.

Has anyone got any ideas why I may have fallen through the net and what the consequences could be if I do not alert the SLC that they could be collecting the loan from me?

Thanks

dmg24

You need to contact them. You could be subject to fines due to your inaction. Not very bright ...

Dave101t

they check when you start a new employment, if you have been in the same job you may of slipped through. when i came back from working abroad they noticed and you cant get out of it once they see it. well done for avoiding it but it was accruing interest until recently, about 35 quid a month based on your time/figures.

vaporate

I would contact them if I were you.

Purely for peace of mind, otherwise they may try for fraud, fine you ect.

I received a letter myself 6 months after I finished university. I promptly replied giving evidence of 'supporting myself' ect.

[Deleted User]

Definitely contact them.

One of my previous employers innocently forgot to deduct the student loan repayments from my salary - the only reason I noticed was because I am also self-employed, so when it came to self-assessment HMRC's calculator spotted the underpayment and added it onto my SA bill for that year!

That is the danger here. They won't 'forget' about it so much better to pay it back sooner rather than letting them rack up interest and then foist it on you in one lump when they discover it.

kataklysm

This happened to me and I called them many, many times in the beginning. They didn't seem bothered and told me to contact the then-Inland Revenue, who told me to contact the SLC, ad infinitum. In the end I gave up. Despite them knowing for many years who I was, where I lived and presumably what I earned, they still didn't take any payment.

I found out later that the box on your last P45 next to 'Student Loan' kinda has to be ticked. They soon got in touch after I changed jobs and did that.

Not had a statement in 4 yrs, so who knows what I owe them now. Scary. Just think, if you'd started paying when you should have, it would probably be gone by now..:(

vaporate

kataklysm wrote: »

This happened to me and I called them many, many times in the beginning. They didn't seem bothered and told me to contact the then-Inland Revenue, who told me to contact the SLC, ad infinitum. In the end I gave up. Despite them knowing for many years who I was, where I lived and presumably what I earned, they still didn't take any payment.

I found out later that the box on your last P45 next to 'Student Loan' kinda has to be ticked. They soon got in touch after I changed jobs and did that.

Not had a statement in 4 yrs, so who knows what I owe them now. Scary. Just think, if you'd started paying when you should have, it would probably be gone by now..:(

I doubt that. Specially with the interest they throw on.

In all honesty, the most likely outcome for most graduate/failed degree course will be for student loans being wiped clean due to not earning enough, especially in this economic/job market climate.

CLAPTON

vaporate wrote: »

I doubt that. Specially with the interest they throw on.

In all honesty, the most likely outcome for most graduate/failed degree course will be for student loans being wiped clean due to not earning enough, especially in this economic/job market climate.

I doubt that we will reach the situation where most graduates etc will earn less that 15,000 pa for the rest of their careers.

RJP33

Had the same problem and when I called them they didn’t seem interested and told me it was a HMRC issue, who told me it was an SLC issue etc.

Eventually started making payments but only because of chasing up.

Sarahsaver

Have you never applied for deferral? I graduated from my postgrad course in 1994 and still have never earnt enough to pay off the loans even when i was a teacher.

ILW

CLAPTON wrote: »

I doubt that we will reach the situation where most graduates etc will earn less that 15,000 pa for the rest of their careers.

Depends whether its a proper degree or one of the mickey mouse ones in basket weaving or similar.