Possible to limit student loan repayment?

Thomas89

Hi,

What is the the minimum payment required to student loans co?. I have a loan from 2009 when i finished university, i am now in full time employment and my repayment is £250 per month.

I am aware the repayments are based on a percentage of your salary over an X amount but just curious if it is possible to say cap the repayment at £100 per month?

Thanks

Dunroamin

Simple answer is no.

bambinaUK

If you are paying £250 per month you must be on a really good salary!

paddedjohn

OP, to be paying £250 per month you must be earning about £55k, surely you can afford to pay your loan out of that.

Thomas89

Yes that is correct, i am moving to London from Glasgow. I currently have a mortgage here (Glasgow) so will be putting this up for rent and then renting a place myself which is going to cost roughly £1000. My girlfriend is moving however she is a graduate so her income may well be alot less, having a young son and girlfriend to support i was hoping to reduce any outgoings.

PS - I am not trying to avoid paying my student loan, if it is not possible then fair enough.

The_Jakal

Thomas89 wrote: »

Yes that is correct, i am moving to London from Glasgow. I currently have a mortgage here (Glasgow) so will be putting this up for rent and then renting a place myself which is going to cost roughly £1000. My girlfriend is moving however she is a graduate so her income may well be alot less, having a young son and girlfriend to support i was hoping to reduce any outgoings.

PS - I am not trying to avoid paying my student loan, if it is not possible then fair enough.

Hi, unfortunately it's not possible! It's one of those things that you have to budget into your life until it's paid off and if you don't think you can manage it then you may have to cut back on other things for now!

agrinnall

So is your girlfriend moving or isn't she? If you have two threads on the go it's best to try to maintain the same story in both of them. If she is going then many of the people responding to the other thread have been wasting their time.

Lokolo

Thomas89 wrote: »

Yes that is correct, i am moving to London from Glasgow. I currently have a mortgage here (Glasgow) so will be putting this up for rent and then renting a place myself which is going to cost roughly £1000. My girlfriend is moving however she is a graduate so her income may well be alot less, having a young son and girlfriend to support i was hoping to reduce any outgoings.

PS - I am not trying to avoid paying my student loan, if it is not possible then fair enough.

You can "reduce" it by putting the money elsewhere. My company give me benefits which I can purchase each tax year, including things like salary sacrifice.

These being paid for before any tax deductions reduce my student loan repayments.

Yours may offer something similar.

Thomas89

agrinnall wrote: »

So is your girlfriend moving or isn't she? If you have two threads on the go it's best to try to maintain the same story in both of them. If she is going then many of the people responding to the other thread have been wasting their time.

Agrinnall, are all your 4700 posts as unhelpful as this....?

You might have caught me out here, this is one big story to entertain small minded people like yourself.

For the ones who are genuine that are helping by offering serious advice (everyone else except Agrinnall). My other posts indicate that my partner is considering a move also but looking likely that it is not possible unless she changes to a business only course (Still undecided), therefore if she does move her income will be very limited and having a son we will have childcare etc... These are my concerns hence the reason for this thread.

So Aginnall please spend your free time wasting your time on someone elses thread.

Lokolo - Yes that is a great option. I already have something similar in place at the minute with supermarket vouchers and pension which reduces my tax slightly. I had totally forgot about this, i will consider taking full potential of this. Thanks