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SLC Plan 2 - Wrong interest rate?
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I have been repaying my Plan 2 student loan since the 2016-2017 tax year. During that tax year, my average gross salary was £36,000, and so I was expecting a fairly hefty rise in interest rate in September 2017, from the previous base rate of 1.6%.
However, having got my 2017-2018 tax year statement, it appears I have been charged only the base interest rate of 3.1% since September 2017.
Has anyone seen the same thing? Should I report this to the SLC, or is it better left unmentioned for as long as possible?
Does anyone know the exact way this is calculated - is it based on average gross salary from the previous tax year, or something else entirely?
Cheers!
However, having got my 2017-2018 tax year statement, it appears I have been charged only the base interest rate of 3.1% since September 2017.
Has anyone seen the same thing? Should I report this to the SLC, or is it better left unmentioned for as long as possible?
Does anyone know the exact way this is calculated - is it based on average gross salary from the previous tax year, or something else entirely?
Cheers!
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