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Student Loans
BillyHolmes
Posts: 4 Newbie
in Loans
How much should my student loan deductions be if I earned £27,500 in the 2019/20 tax year?
If I have been overcharged, can I get any of this back?
If I have been overcharged, can I get any of this back?
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Comments
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I came into this world with nothing and I've got most of it left.0
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In accordance with your link, I think I have been overcharged by a lot (I've been charged just over £1100 not £150) and when I queried it I got the above response I.e. that I am not eligible for a refund as I earned over the threshold. Is this correct?
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I meant to say £115 instead of £150, sorry.0
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This is this is an excerpt from the mse guide:
Started uni in or after 2012 and from England or Wales? The threshold is £25,725 a year in the 2019/20 tax year, although prior to this it was £25,000 – what counts though is how often you're paid, so you repay when your earnings go over the weekly or monthly equivalent of this threshold.
https://www.moneysavingexpert.com/students/student-loan-overpayment-refund/
I came into this world with nothing and I've got most of it left.0 -
If you have a bonus month then you will have to pay more loan contribution that month and you can't get it back at the end of the year.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.1 -
Doesn't this seem to make the government's declarations that you only pay 9% over X akin to false advertising?
I've paid just over 70% of what I earned over the threshold...0 -
I agree. I wasn't aware of the situation until you posted the question and I had a look. My son is starting his masters in September, his fourth year, so at least I can forewarn him.I came into this world with nothing and I've got most of it left.0
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