Student Loans - Is this true?

Dave2012_2

This one slipped thru the net then didn't it? I thought this and the other threads on the subject had established that the basic premise is wrong! A quick search reveals this from the the direct.gov website:

"Interest accrues on your loan until it has been repaid in full.If you repay your loan through PAYE or Self Assessment, the Student Loans Company will receive details of your repayments from HM Revenue and Customs (HMRC) after the end of the tax year. When these details come through, the amount of interest you are charged will be adjusted to reflect when you actually made the repayments.
This means that you won't be charged interest on the part of the loan you have already paid back."

and this

"If you have been identified as a PAYE or Self-Assessment repayer, interest accrual will be suspended from the start of the tax year until the end-of-year repayment details are received from HM Revenue and Customs (HMRC) (formerly the Inland Revenue). Interest for the previous year will then be calculated and applied to your account retrospectively upon receipt of your repayment details"


Hope this helps

CLAPTON

cambsman wrote: »

No, but the petition on the no.10 website makes it out pretty clearly, and all the petitions on there have to be vetted for their integrity, many dont get through.

can you quote (cut and paste ) the bit on the website that the petitions have been vetted for integrity

now there are bits about being abusive and bits about being being political but i can't find the bits about integrity.

Dave2012_2

As far as I can see, there is nothing to say that the petitions are vetted for factual accuracy.

It does say that as long as the petition doesn't break the T&Cs that they will all go live within 5 days.

I seriously doubt that all submitted petitions could go live that quickly if they were checked for individual factual accuracy

EDIT: I see nearly 42,000 people have signed this thing. That's an awful lot of people who don't know how their loan repayments work. If nothing else at least the petition draws attention to that - quite worrying