Are Student Finance scammers?

MusicalLawyer

You can view a statement online.

I think it is something like https://www.studentloanrepayment.co.uk (it's a Student Loan Company website) you login using the same login details for Student Finance Direct website.

It will then show you on there how much you have outstanding - what you've paid etc

retepetsir

MusicalLawyer wrote: »

You can view a statement online.

I think it is something like https://www.studentloanrepayment.co.uk (it's a Student Loan Company website) you login using the same login details for Student Finance Direct website.

It will then show you on there how much you have outstanding - what you've paid etc

However this doesn't get updated that often either. Mine still shows the balance from July 2011!

I've just received my statement through the post for May 2011-April 2012!!

RDG

Chocolate_Cupcake wrote: »

3 years later after paying £230 a month

Are you sure your paying £230 a month as that would suggest you started earning £46500 a year straight after graduating and have remained at that wage for 3 years?

Fare play and well done if that is the case.

Chocolate_Cupcake

That' what i thought as well, i know people paying £5 a month when they have even reached the right wage scale. But Yeah £230 every month. I earn £1300 after tax.

Giraffeseeker

On that salary you should be paying back less than £40 per month. Something isn't right here. How is this shown on your payslip? Is the money definately going to student loans?

19lottie82

Chocolate_Cupcake wrote: »

That' what i thought as well, i know people paying £5 a month when they have even reached the right wage scale. But Yeah £230 every month. I earn £1300 after tax.

did you nominate to overpay?

if not you shouldn't be (most likely, aren't) paying off anywhere near £230

I earn £23625 pa and pay £56 a month. (I clear £1480 a month after tax)

RDG

Cupcake to calculate how much you should pay take your wage before tax minus £1316 and multiply the result by 0.09.

Assuming that before tax and NI your wage is £1300*1.25 (assuming tax and NI comes to 25% of your wage) so £1625.

Your payments should be approx £28 per month. So you really need to take a close look at your payslip and see how much you are actually paying. This amount per year will probably just cover the interest so the amount you owe is likely to be similar to the starting amount.