Help With Student Loans - HERE!

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  • Gerkintrigg
    Gerkintrigg Posts: 1 Newbie
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    Did you know that when you pay your employer your student loans money, they give it to the HMRC, who only give it to the student loans company at the end of the year!? Until then, you’re paying interest on the interest you’re accruing on the FULL balance. What a con!
  • foofi22
    foofi22 Posts: 2,199 Forumite
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    Hi
    I'm currently repaying my Plan 1 loan through PAYE. Last year I changed employer and my new employer continued my loan deductions.

    However I've just got my loan statement for April 18 to April 19 and the only "payment" to it is from my new employer. The payments from my previous employer are not included.

    Should I contact SLC to inform them of the missing payments? Or does this sort of thing sort itself out?

    If it helps I've had my P60 from my new employer but not my previous (I'm not sure if they will issue me with one)

    Thanks
  • Savvy_Sue
    Savvy_Sue Posts: 46,087 Forumite
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    foofi22 wrote: »
    Hi
    I'm currently repaying my Plan 1 loan through PAYE. Last year I changed employer and my new employer continued my loan deductions.

    However I've just got my loan statement for April 18 to April 19 and the only "payment" to it is from my new employer. The payments from my previous employer are not included.

    Should I contact SLC to inform them of the missing payments? Or does this sort of thing sort itself out?

    If it helps I've had my P60 from my new employer but not my previous (I'm not sure if they will issue me with one)

    Thanks
    Yes, contact SLC with your P45 from the old job and your latest P60. You might also need to send copies of payslips from your previous job.

    Same happened to DS2, an entire year's worth of payments not recorded when he changed jobs.

    It was soon sorted when he phoned them, but he did have to send his payslips.

    Also NB you only get a P60 from an employer for whom you are currently working at the end of the tax year, so you're probably not going to get one from the previous employer: that's where your P45 comes in handy.
    Signature removed for peace of mind
  • Fzzzbucks
    Fzzzbucks Posts: 117 Forumite
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    Hi,

    Bit of a complicated one here.

    I'm considering doing teacher's training (English, with a bursary of £15k).
    My husband is also considering studying for a 3 year degree in data science.
    We have a five-year-old.
    Neither of us would be working while studying. My husband does currently have a job, but would give it up to study for a different career.

    What funding would we be eligible for? Would both of us be eligible for maintenance loan, adult dependency and parent's learning allowance?

    TIA
  • sheramber
    sheramber Posts: 19,308 Forumite
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    Fzzzbucks wrote: »
    Hi,

    Bit of a complicated one here.

    I'm considering doing teacher's training (English, with a bursary of £15k).
    My husband is also considering studying for a 3 year degree in data science.
    We have a five-year-old.
    Neither of us would be working while studying. My husband does currently have a job, but would give it up to study for a different career.

    What funding would we be eligible for? Would both of us be eligible for maintenance loan, adult dependency and parent's learning allowance?

    TIA

    https://www.gov.uk/adult-dependants-grant/eligibility

    You’re not eligible if the adult dependant is:

    your child
    a relative who earns more than £3,796 a year
    getting student finance

    https://www.practitioners.slc.co.uk/products/full-time-undergraduate-education/full-time-parents-learning-allowance/eligibility/
  • HMS
    HMS Posts: 49 Forumite
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    Gerkintrigg wrote: »
    Did you know that when you pay your employer your student loans money, they give it to the HMRC, who only give it to the student loans company at the end of the year!? Until then, you’re paying interest on the interest you’re accruing on the FULL balance. What a con!

    My understanding was that this was going to change from this MSE story: https://www.moneysavingexpert.com/news/2019/04/student-loans-company-and-hmrc-to-share-data-every-week---meanin/

    My balance remains 18 months out of date despite providing pay slips as they're still waiting for an update from HMRC.

    As someone who is two months from paying it off (from my calculations) - its a sorry state.
  • JadegeorgiaD
    JadegeorgiaD Posts: 1 Newbie
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    Hi,

    I'm currently travelling and looking to maybe start an open university course in October. I'm a UK citizen and still have my UK residency (England) but would be in Australia with temporary residency here at the time of starting the course. Does this mean I'd be entitled to student loans as I couldn't cover the costs myself.

    I tried getting in touch with the open university themselves but their response was just a copy and paste from their website which didn't cover my question.

    Thanks
  • [Deleted User]
    [Deleted User] Posts: 4,176 Forumite
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    JadegeorgiaD wrote: »
    Hi,

    I'm currently travelling and looking to maybe start an open university course in October. I'm a UK citizen and still have my UK residency (England) but would be in Australia with temporary residency here at the time of starting the course. Does this mean I'd be entitled to student loans as I couldn't cover the costs myself.

    I tried getting in touch with the open university themselves but their response was just a copy and paste from their website which didn't cover my question.

    Thanks

    No you won't be eligible for loans as you are not a UK resident.
  • sheramber
    sheramber Posts: 19,308 Forumite
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    JadegeorgiaD wrote: »
    Hi,

    I'm currently travelling and looking to maybe start an open university course in October. I'm a UK citizen and still have my UK residency (England) but would be in Australia with temporary residency here at the time of starting the course. Does this mean I'd be entitled to student loans as I couldn't cover the costs myself.

    I tried getting in touch with the open university themselves but their response was just a copy and paste from their website which didn't cover my question.

    Thanks

    https://www.gov.uk/student-finance/who-qualifies

    Your nationality or residency status

    You can apply if all of the following apply:

    you’re a UK national or have ‘settled status’ (no restrictions on how long you can stay)
    you normally live in England
    you’ve been living in the UK, the Channel Islands or the Isle of Man for 3 years before starting your course
  • JohnMl88
    JohnMl88 Posts: 72 Forumite
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    Hi, I have started to pay my postgraduate loan, my first payment was £50 but I don’t know how to calculate the repayments.
    Gross salary: £2,319.65
    Threshold: £1,750
    Repayment: (2,319.65-1,750) *6% = £34.18
    Why have I paid 50?
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