We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Student Loan deductions
Bryando
Posts: 1,464 Forumite
Hi,
My monthly wage has shown deductions been made for a student loan. I thought deductions went on annual income not monthly? I don't think overall I am over the required amount before I start paying towards. So can I claim this payment back if overall my income is below the threshold?
My monthly wage has shown deductions been made for a student loan. I thought deductions went on annual income not monthly? I don't think overall I am over the required amount before I start paying towards. So can I claim this payment back if overall my income is below the threshold?
0
Comments
-
You might be able to claim payments back from April 2018 if your total earnings for the 2017-8 tax year are below the threshold. But the payments don't start at the point you go over the threshold, they start (in month 1) at the point you earn more than one twelfth of the threshold. So the chances are that the amount taken now is correct.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards