Student Loan - Repayments Never Started

yeahdisk

Hello all

I Graduated in 2005 with 4 years worth of Student Loan (spread over 5 years). In total its now around 13k. I've been in work since october of that year for a large company, earning above the threshold to begin making repayments.

I have never made a repayment. After reading some info on this site last year I called the student loans people - they told me that it was down to the tax office being slow to sort things out and payments would begin soon.

The thing is - whilst emptying out my desk I just found my P45 from when I started here, and the box marked 'continue paying student loans' is not ticked. It was issued by my Job Centre (I signed on for the summer before I started work).

The question is - what should I do? I'm happy to continue to not pay off my student loan and instead use the repayment amounts to fund some 5%+ savings account but will I get bitten in the future by the SLC demanding the loan back instantly? And if they do - who would you say is at fault? Me for being a little laid back about the whole thing? Or my job centre for issuing me with an incorrect P45?

Any advice, experience etc. would be well received. I'm financially pretty good (apart from mortgage and 0% graduate overdraft this is my only debt) so if I can make this error work in my favour I'd like to stick it to the man!

Take it easy everyone,

chris.

Sus1e

I think you will only start paying them once you are over the threshold in April - Check with th tax office.......

To be honest, I am paying mine back as it is easier to do it now rather than worry about it in the future but that is just my way of doing things.

caenine

I am in the exact same boat, except i graduated in 2003, however the tax office has also been slack with processing my details. I suspect it will come in this Aprils tax time! Dopes anyone know roughly how much per month you pay back?