Paying back Student Loan?

katesagogo

Hiya,

Im a bit miffed as has not been a student now for 3 years and still havent had any student loan deductions, I have had 4 jobs since leaving uni, first one £17,000 for 6 months, then 2 jobs at £15,000 for 2 years and have just started a new one on £18,000.

As mentioned I havent had any deductions made or been approached to make any - should i keep quiet???

Dont want to end up with them coming to me and demending loads of money but obvuoisly dont want to pay if i dont need to!

Thanks

dreamalittle

The student loan doesn't start to be repayed until the April after you graduate, so if you got your first job straight away and only stayed 6 months then you wouldn't have been expected to pay anything for that job.

The payments are 9% of your earnings over £15,000, so the two jobs where you were earning exactly this wouldn't have incurred repayments either.

Your current job should trigger the repayments, but it quite often takes a while to kick in - I changed jobs a couple of times, both around October/November, and ended up not paying anything until April both times for some reason. They'll automatically start taking payments from your salary, so you don't have to notify anyone. And they won't chase you for money retrospectively, so don't worry about that!

CLAPTON

dreamalittle is exactly right
it is of course your responsibility to tell your employer that you have a student loan and then they should start deducting this... maybe you should check with the payroll department.

jay78

CLAPTON wrote: »

dreamalittle is exactly right
it is of course your responsibility to tell your employer that you have a student loan and then they should start deducting this... maybe you should check with the payroll department.

You shouldn't have to tell your employer as your NI number will alert them. But dreamalittle is right, you haven't been eligible to pay (automatically that is) until now.

scottishsuz

It took ages for payments to kick in for me too.

If your keen to pay it off, you can make overpayments to it, just give them a phone and they'll send you the form. I make small (£5) monthly along with the payments that come off my salary. Thats enough to satisfy me that its being eaten away at, albeit *very* slowly, while I pay off larger more expensive debts.

Suz

lucy_w86

I am slowly paying off my student loan but I have not received a statement for ages. I feel they are very poor at keeping in contact

scottishsuz

I usually get one towards the end of Oct which covers from Apr-Apr.
Other than my statements I don't here anything from them unless its a threshold change notice.