Student Loans - help needed!

Kiss_de_la_Cruz

I've just finished my degree and was wondering if anyone knew when the student loan company get in touch with u about starting to pay it back?! I know they're pretty much useless when Ive tried to find out stuff over the past four years so thought id ask incase someone knew!

Thanks

littlemissmay

hello..i was in the same situation last year..basically the slc got in contact with me in november/december time last year and they asked what my employment situation was..following this, they start to collect ur repayments for the student loan in the april after u graduate..so for you- you are due to start repayments in april 2007.. HOWEVER, these repayments are ONLY due if ur salary is over the threshold (currently $15,000) limit, SO repayments start if u earn more than 15,000 pounds a year..i hope that helps...

Sillychuckie

Do repayments come from your pre-tax or net earnings?

Kiss_de_la_Cruz

Ok, thanks for that littlemissmay, would be nice for them to tell us this! But at least I get some idea of when they might get into contact! Thanks again :-)

Middlers

Sillychuckie wrote:

Do repayments come from your pre-tax or net earnings?

Gross earnings

beefturnmail

I wouldn't bank on the SLC doing anything reliably. I started paying 2 years ago and am still yet to receive statements from them, showing how much of my loan remains. My gilrfriend started paying 3 years ago and received statements back in November which implied that nothing had been paid back at all! We are still trying to sort this fiasco out now (10 months later). I have requested my statements from them too and was told to send photocopies of all my P60s and payslips to date, so they could give me an accurate statement. (Why should I have to do that!) The whole system is an absolute shambles and they've got you over a barrel as the money comes directly out of your pay. We're taking the complaints as high as possible until it gets resolved

hbl_2

Middlers wrote:

Gross earnings

For real? So repayments on the student loan are tax free?

So the price I pay on making repayments other than the ones they take at source is 22%? If I make these payments do the government pay the additional 22% as they would on a charitable donation?

I think I'll have to look into this.