Threshold for repayments but over 2 part time job?

Titch16

I wonder if somebody can help with this query-
I' ve been in a full time job for several years. My wages met the threshold and the student loan repayment was taken straight out.

Recently I've cut my hours at my full time job and now work there part time 3 days a week. I did this as i had the chance of a new part time job 2 days a week nearer to home. So i still work full time and earn the same money as before but its spilt over 2 different jobs.

I dont earn enough separatly in each job to meet the threshold, so the student loan repayments stopped. As in total I'm still earning over the threshold I assumed I'd still have pay and the SLC would write to me.

They've told me I dont have to pay anything unless i meet the threshold on one job. Is this correct? All the info on the internet just says if you meet the threshold you pay, it doesnt say anything about having this over 2 or more part time jobs. If this is right then great I just dont want to receive something later saying i owe them money.

Thank you

Ed-1

Titch16 wrote: »

I wonder if somebody can help with this query-
I' ve been in a full time job for several years. My wages met the threshold and the student loan repayment was taken straight out.

Recently I've cut my hours at my full time job and now work there part time 3 days a week. I did this as i had the chance of a new part time job 2 days a week nearer to home. So i still work full time and earn the same money as before but its spilt over 2 different jobs.

I dont earn enough separatly in each job to meet the threshold, so the student loan repayments stopped. As in total I'm still earning over the threshold I assumed I'd still have pay and the SLC would write to me.

They've told me I dont have to pay anything unless i meet the threshold on one job. Is this correct? All the info on the internet just says if you meet the threshold you pay, it doesnt say anything about having this over 2 or more part time jobs. If this is right then great I just dont want to receive something later saying i owe them money.

Thank you

Each employer gives you full credit for the threshold so this is indeed a loophole as student loan deductions are worked out based on pay period per job and not total income for the year unless you are self-employed and need to submit a tax return. However if your total income for the year is below the annual threshold then you can get a refund.

There's a clearer explanation in some of the older guides to terms. Eg. See page 12 of the 2005/06 guide:

https://web.archive.org/web/20050219195145/http://www.dfes.gov.uk/studentsupport/uploads/ACF2FEE.pdf

Page 12 of the 2012/13 guide:

http://webarchive.nationalarchives.gov.uk/20121015000000/http:/www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/@educ/documents/digitalasset/dg_200469.pdf

See page 8 of the 2006/07 guide which is less clear:

https://web.archive.org/web/20070715112911/http://www.direct.gov.uk/prod_consum_dg/idcplg?IdcService=GET_FILE&dID=24399&Rendition=Web

Titch16

Thats great thank you for your help. That has put my mind at rest.It seemed to good to be true and is definately a 'loophole'