Student. Loans: How Much Can They Take? 24 January 2018 at 8:36PM in Student MoneySaving 3 replies 894 views

Adamc

Hi all

I took a student loan out for the academic years 2006 - 2009 achieving a degree I ultimately did not directly use.

I went back to uni after being left a considerable sum of money with the instruction to set myself up. No loan taken this time.

I have just qualified as a entry level medic earning just over 30K (in real terms I take away £1765 after pension and the usual deductions/not accounting for shifts or enhancements).

I just wondered how much the SLC can actually charge me because it appears to be a fair amount?

Many thanks

Ed-1

Adamc wrote: »

Hi all

I took a student loan out for the academic years 2006 - 2009 achieving a degree I ultimately did not directly use.

I went back to uni after being left a considerable sum of money with the instruction to set myself up. No loan taken this time.

I have just qualified as a entry level medic earning just over 30K (in real terms I take away £1765 after pension and the usual deductions/not accounting for shifts or enhancements).

I just wondered how much the SLC can actually charge me because it appears to be a fair amount?

Many thanks

Plan 1 repayments are 9% above £17,775 (this threshold rises by RPI inflation annually so will be £18,330 from April 2018). Post-2006 plan 1 loans get written off after 25 years.

Adamc

Ed-1 wrote: »

Plan 1 repayments are 9% above £17,775 (this threshold rises by RPI inflation annually so will be £18,330 from April 2018). Post-2006 plan 1 loans get written off after 25 years.

For some reason I thought they could take more of the earning above the given threshold. Perhaps I misunderstood?

Ed-1

Adamc wrote: »

For some reason I thought they could take more of the earning above the given threshold. Perhaps I misunderstood?

If you've got a postgraduate loan, then it's an additional 6% above £21,000.