Student Loans Company - still owe 15k over 12 years later...?

playaz

I graduated from Uni in 2004 and have pretty much worked flat-out since, I am still paying back for my student loans to the SLC and usually don't take much notice of this. The other day I noticed I still 'owed' the SLC £15k?!

Something doesn't quite seem right about this to me... I have always made payments direct through my PAYE like everyone else but just don't know where to go on this as I know the SLC - the whole system stinks I have been earning £35k+ for some years... if someone with my salary hasn't paid this off yet who can anybody else expect to pay this off?!

Can anyone advise what I should do on this - I dread to think how hard it would be to collate wage slips from over 10 years ago (obviously not possible) - can someone advise me on this please?

Thanks in advance

CLAPTON

playaz wrote: »

I graduated from Uni in 2004 and have pretty much worked flat-out since, I am still paying back for my student loans to the SLC and usually don't take much notice of this. The other day I noticed I still 'owed' the SLC £15k?!

Something doesn't quite seem right about this to me... I have always made payments direct through my PAYE like everyone else but just don't know where to go on this as I know the SLC - the whole system stinks I have been earning £35k+ for some years... if someone with my salary hasn't paid this off yet who can anybody else expect to pay this off?!

Can anyone advise what I should do on this - I dread to think how hard it would be to collate wage slips from over 10 years ago (obviously not possible) - can someone advise me on this please?

Thanks in advance

facts would help

playaz

I'm gonna look more into this and reply back... however for other people this is worth a read/watch..

http://www.bbc.co.uk/bbcthree/item/15d02147-bb3e-45c9-8063-f41e93aab16b

Petition:
https://petition.parliament.uk/petitions/159105/signatures/new

TrustyOven

playaz wrote: »

I graduated from Uni in 2004 and have pretty much worked flat-out since, I am still paying back for my student loans to the SLC and usually don't take much notice of this. The other day I noticed I still 'owed' the SLC £15k?!

Something doesn't quite seem right about this to me... I have always made payments direct through my PAYE like everyone else but just don't know where to go on this as I know the SLC - the whole system stinks I have been earning £35k+ for some years... if someone with my salary hasn't paid this off yet who can anybody else expect to pay this off?!

Can anyone advise what I should do on this - I dread to think how hard it would be to collate wage slips from over 10 years ago (obviously not possible) - can someone advise me on this please?

Thanks in advance

Didn't you get statements every year?

Didn't you track how much they deducted from the amount outstanding and how much was added as interest?

ViolaLass

You don't need wage slips from 10 years ago if you can remember how much you earned then. You could then calculate how much you should have paid off each year and see where that leaves you after interest.

exiled_red

Check back through your SLC statements and compare this to what you paid on payslips.

From my experience they seem to have problems when you change employment sometimes they know when you have left an employer but want you to tell them who your new employer is. If you haven't done this they might not be taking contributions out of PAYE so you would need to check payslips. Also when you change employers midway through a tax year when your next statement comes it may only have the first employer on and you have to chase them up about other contributions which appear to be missing, again this is something I have experienced.

jaydeeuk1

I left with £16k in 2003, still owe £19k. Can't see myself paying it back, unless tax law is changed on dividends.

rebecca1982

Ouch? So they added extra money to your loan?

Pixie5740

rebecca1982 wrote: »

Ouch? So they added extra money to your loan?

Yes extra money is added to student loans, it's called interest.

Clive_Woody

Pixie5740 wrote: »

Yes extra money is added to student loans, it's called interest.

These crazy new ideas. I can't see that being popular.

Pablosammy

Surely you know how much you owed? And how much you've paid off since? There's no black magic at work. It's a VERY low interest loan (0.9% APR at the moment), and there is no scam. Thank your luck that you didn't have to pay £9k fees etc.

At £35k, you'd be paying back approximately £1.5k a year. £35k is a reasonable wage, but, trying not to be rude, it's not a "My debts are suddenly irrelevant" wage.

Get yourself on http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3866794&_dad=portal&_schema=PORTAL and get on top of things. You'll be able to download your previous annual statements which should let you spot if anything is wrong.