Student finance- repayment questions

popadom

Hi.

I have a question about student finance repayments.
I currently work for a teaching supply agency . As I work in schools, there is no work from the end of July until September. In September I am going to be doing a postgraduate course.

I know when I leave employment I should notify S/F. I'm just wondering when is it best to do it? I'm due to go away the first week of the summer holiday and so I don't know if it's worth letting them know before or after.

Do they automatically send a letter if they see you aren't earning? I would still be registered with the agency ( I could remove myself if that made it easier? ) although I wouldn't be working.

I don't know if it would even be better to offer a token £5/10 p/m ? I've built this in to my student budget.

Is it best to be proactive with S/F or just wait for them to call me?

I've heard horror stories of S/F chasing students up all of the time and I just want to do this in the easiest/ least stressful method possible so I don't have to worry during my course.

Thank you.

Ed-1

popadom wrote: »

Hi.

I have a question about student finance repayments.
I currently work for a teaching supply agency . As I work in schools, there is no work from the end of July until September. In September I am going to be doing a postgraduate course.

I know when I leave employment I should notify S/F. I'm just wondering when is it best to do it? I'm due to go away the first week of the summer holiday and so I don't know if it's worth letting them know before or after.

Do they automatically send a letter if they see you aren't earning? I would still be registered with the agency ( I could remove myself if that made it easier? ) although I wouldn't be working.

I don't know if it would even be better to offer a token £5/10 p/m ? I've built this in to my student budget.

Is it best to be proactive with S/F or just wait for them to call me?

I've heard horror stories of S/F chasing students up all of the time and I just want to do this in the easiest/ least stressful method possible so I don't have to worry during my course.

Thank you.

Which type of student loan do you have? If your course started after 1998 it's income contingent so you don't have to do anything. As you're earning below the repayment threshold your employer simply won't take anything from your wages. No need to tell SLC anything.

If HMRC notify SLC you are not registered as in an employment, SLC may send you a letter asking you to prove what income you are living off (to ascertain that you're not earning over the threshold).

popadom

Ed-1 wrote: »

Which type of student loan do you have? If your course started after 1998 it's income contingent so you don't have to do anything. As you're earning below the repayment threshold your employer simply won't take anything from your wages. No need to tell SLC anything.

If HMRC notify SLC you are not registered as in an employment, SLC may send you a letter asking you to prove what income you are living off (to ascertain that you're not earning over the threshold).

Hi Ed,
Yes it started after 1998. So should I remove myself from the agency? I won't be earning anything as no school would be open- so although registered, I won't be earning. I'm saving some of my wage to cover the few months to cover the gap.

Ed-1

popadom wrote: »

Hi Ed,
Yes it started after 1998. So should I remove myself from the agency? I won't be earning anything as no school would be open- so although registered, I won't be earning. I'm saving some of my wage to cover the few months to cover the gap.

No don't remove yourself. If you're still 'on the books' then SLC won't ask you to prove your income as they know from HMRC that you're employed and therefore any repayments due would be getting deducted from your wages.

It's when your employment status changes with HMRC who then notify SLC that you may get letters asking you to prove what you're living off.

The old mortgage style loans (pre-1998) were different - borrowers with these loans had to prove their income every year.

popadom

Ed-1 wrote: »

No don't remove yourself. If you're still 'on the books' then SLC won't ask you to prove your income as they know from HMRC that you're employed and therefore any repayments due would be getting deducted from your wages.

It's when your employment status changes with HMRC who then notify SLC that you may get letters asking you to prove what you're living off.

The old mortgage style loans (pre-1998) were different - borrowers with these loans had to prove their income every year.

So it's best to just leave myself registered and call them when I start my course?
Thanks for your advice 😊