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Do Student Loan repayments get backdated?
Dealo
Posts: 4 Newbie
Hi guys,
I graduated in 2012 and have been making Student Loan repayments through my payslip for the last 5 years.
However I recently started a new job and my first 2 payslips have not contained any student loan deductions.
I've made the payroll department aware of this and things should be back to normal from next month. However my question is - will SLC also make me repay the 2 months I've missed?
I've worked out that I should be paying around £150 each month - so does that mean that on my next payslip there will be a big £450 payment to cover the previous ones I missed? Or will they just pick up with £150 deductions?
Appreciate any help!
I graduated in 2012 and have been making Student Loan repayments through my payslip for the last 5 years.
However I recently started a new job and my first 2 payslips have not contained any student loan deductions.
I've made the payroll department aware of this and things should be back to normal from next month. However my question is - will SLC also make me repay the 2 months I've missed?
I've worked out that I should be paying around £150 each month - so does that mean that on my next payslip there will be a big £450 payment to cover the previous ones I missed? Or will they just pick up with £150 deductions?
Appreciate any help!
0
Comments
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I imagine there will be a catch up yes, as it appears something was not done correctly in order for them to start.0
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In my experience, it won't be backdated.
I'd recommend keeping some money aside just in case they ever ask for it, but in reality the SLC just don't seem to care!
If you're in Self Assessment, it will get picked up there, but otherwise, I don't think it willExcuse any mis-spelt replies, there's probably a cat sat on the keyboard0 -
No they won't backdate. SLC are not capable of anything so complicated or organised! Imagine the admin workload - tbh, they don't really know when you finish paying them...you have to continually warn them you're coming up to the point of repayment - even then, it's a bit of bun fight between yourself, your employer and SLC.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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I'd second the advice to keep some money aside in case they do. They probably won't - SLC are quite useless - but you don't want to get caught with your pants down.0
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This happened to me just over three years ago. Deductions were not backdated.
In theory under the terms of your loan agreement you should make a contribution to the amount owed ;-)0 -
They don't backdate. Enjoy!“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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Thanks guys, much appreciated.0
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DO hang on to all your payslips, and check next year's loan statement to make sure that all contributions deducted from you found their way to your account.Signature removed for peace of mind0
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