Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • ArthurS
    • By ArthurS 5th Dec 17, 11:50 AM
    • 1Posts
    • 0Thanks
    Student Loan Repayments
    • #1
    • 5th Dec 17, 11:50 AM
    Student Loan Repayments 5th Dec 17 at 11:50 AM
    So I have a student loan (post-2013) and I work on commission, which means my pay varies every month. Which means there are some months when I pay back A LOT of my student loan, and other when I pay back very little.
    This doesn't seem fair.
    The way tax works with commission earners makes sense - you get taxed appropriately for that month but then get a rebate at the end of the financial year if you have (inevitably) paid to much or too little due to the inconsistency of pay. However comparing that to student loan, you don't get a rebate. Because it's a loan.
    So by the end of the year i may have only actually earned a small/average salary, but because I have had a few larger pay cheques, I have paid back more student loan than someone on the same salary (not on commission).

    Is this right?

    Can anything be done to control the amount of student loan I am actually paying?
Page 1
    • spadoosh
    • By spadoosh 5th Dec 17, 12:02 PM
    • 5,280 Posts
    • 7,184 Thanks
    • #2
    • 5th Dec 17, 12:02 PM
    • #2
    • 5th Dec 17, 12:02 PM
    You can reclaim student loan overpayments.

    Its wrong if it doesnt work out at 9% of earnings over 21,000, how much will you earn and how much student loan will you pay?
    Don't be angry!
    • TrustyOven
    • By TrustyOven 5th Dec 17, 1:21 PM
    • 711 Posts
    • 745 Thanks
    • #3
    • 5th Dec 17, 1:21 PM
    • #3
    • 5th Dec 17, 1:21 PM
    You'll pay off the loan quicker. Meaning you will be debt-free sooner than the other person.

    Be happy that you are paying it off faster and carry on.
    Save 12k in 2017 #016 (4212.06 / 10k) (42.12%)
    Save 12k in 2016 #041 (4558.28 / 6k) (75.97%)
    Save 12k in 2014 #192 (4115.62 / 5k) (82.3%)
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

633Posts Today

6,376Users online

Martin's Twitter