Student Loans

Machiavelli_2

Hi All,

I have just received a letter concerning my student loan in essence it is giving me the option to change from paying the loan via PAYE to direct debit. If I am reading the letter correctly the reason for doing so would be to avoid any potential overpayment, can anyone advise me on the best course of action?

Regards,

Machiavelli

zppp

Machiavelli wrote: »

Hi All,

I have just received a letter concerning my student loan in essence it is giving me the option to change from paying the loan via PAYE to direct debit. If I am reading the letter correctly the reason for doing so would be to avoid any potential overpayment, can anyone advise me on the best course of action?

Regards,

Machiavelli

In response to your question, PAYE is the standard method of paying your student loan. However if you fall under any of the following circumstances, you may be asked to pay be direct debit;

• Self employment
• Moving to another country
• If you owe any arrears (i.e. overpayments)

I would sugest you call the SLC to discuss the most appropriate way for you to pay, and they should be able to give you some further information.

Machiavelli_2

zppp wrote: »

In response to your question, PAYE is the standard method of paying your student loan. However if you fall under any of the following circumstances, you may be asked to pay be direct debit;

• Self employment
• Moving to another country
• If you owe any arrears (i.e. overpayments)

I would sugest you call the SLC to discuss the most appropriate way for you to pay, and they should be able to give you some further information.

Having spoken to them it is because I'm in the last two years of repayment, thanks for your help.