SLC payments.

mboro

Hi there,

I owe about £8000 in student loans.

Am I correct in assuming that the Student Loans Co, can't take any payment from my wages untill I am earing over £2500 per year??

I am earning about £900-£1000 on PAYE and I have found that they are taking payents every week....I get paid weekly.

I phoned them and asked if they could deffer it but was told "no they dont do that any more"?????

Please advise.


btw....I never graduated.:(

melancholly

this sounds complicated but any answer will need more info. when did you take out the loans (i'm assuming pre 1998?)? did you drop out or just not finish after 3 years?

Oldernotwiser

mboro wrote: »

Hi there,

I owe about £8000 in student loans.

Am I correct in assuming that the Student Loans Co, can't take any payment from my wages untill I am earing over £2500 per year??

I am earning about £900-£1000 on PAYE and I have found that they are taking payents every week....I get paid weekly.

I phoned them and asked if they could deffer it but was told "no they dont do that any more"?????

Please advise.


btw....I never graduated.:(

I assume from the fact that you're unable to defer, you're paying through payroll and the size of your loans that you're a post 1998 student. If this is the case then you should be paying 9% of anything you earn over £15,000 pa, calculated on your gross income.

What's your annual gross income?

mboro

I started my course in 2007:o I have not been to uni before that.

Gross I earn around £1200-1300 per year.

Hope this helps.

MrsManda

You repay 9% of everything earned over £15,000 a year. If you are paid weekly this works out as £288 a week. Therefore you should repay 9% of whatever you earn over £288.

If at the end of the financial year you have earned less than £15,000 overall then you can ask the SLC to refund your repayments if you want to.

agrinnall

It's pretty worrying that a recent graduate doesn't seem to know the difference between a month and a year!

melancholly

i have to say, i'm still confused. there's never been a threshold of anything like £2500 (monthly or annually).

OP - can you clarify your gross annual or monthly income? both posts have different numbers.

Oldernotwiser

mboro wrote: »

I started my course in 2007:o I have not been to uni before that.

Gross I earn around £1200-1300 per year.

Hope this helps.

Have you left a zero off that? Either way, you shouldn't be making any repayments on that income.

liney

What MrsManda said: it's like paying income tax. If you earn over the threshold one week you will pay, but then if at the end of the Tax year overall you earn under the threshold you claim a refund, so overtime might push a payment.

Poolie

melancholly wrote: »

i have to say, i'm still confused. there's never been a threshold of anything like £2500 (monthly or annually).

OP - can you clarify your gross annual or monthly income? both posts have different numbers.

Potentially the Pre-1998 monthly deferment threshold? Cannot confirm as studentloanrepayment portal down for maintenance and slc.co.uk is not up to date.

mboro

Thanks for all the replys. I hope this clears it up.

I am an agency care assistant. I get paid on a weekly basis.

I can earn any thing from £100 - £500 PAYE per week after Tax and NI have been deducted.

Looking at last weeks pay slip I have earnt £10,468 gross so far.
I started my job in March 2011.

I didn't complete my uni course.

Looking at your replys, I think this is the top and tail of it...any thing I earn over £288 per week, SLC will make a deduction.

If I earn under 15,000 per year I can reclaim the deductions the SCL took.

:money: