Paying student loan

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neilem
neilem Posts: 103 Forumite
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in Student MoneySaving
I graduated in 2005, and have since been employed for 6 years earning over the 11k+ which triggers off repayment. However I haven't noticed any outgoings for this in my paycheck.

I'd need to dig into my student folder from years ago to see how much exactly I borrowed, but I believe it should not come to any more than 5k (only borrowed the amount for tuition fees for each year - 1k/year). And studied in Northern Ireland if this matters.

Before contacting the SLC I thought I'd ask incase anyone here had the answer as to why I'm not repaying? And because I'm not would it have been building up on interest over the years? Scared to find out I'd be owing x3 as much of what I borrowed!

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  • MusicalLawyer
    MusicalLawyer Posts: 700 Forumite
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    If you graduated in 2005, and took out your loan after 1998 - then the threshold is £15,000.

    This is the repayment website - http://www.studentloanrepayment.co.uk - log in and it'll tell you exactly how much you owe and when you have to pay back etc.
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  • neilem
    neilem Posts: 103 Forumite
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    KellyKing1987 wrote: »
    If you graduated in 2005, and took out your loan after 1998 - then the threshold is £15,000.
    Ah, couldn't mind how much it was exactly, but I'm earning over 15k+.
    KellyKing1987 wrote: »
    This is the repayment website - <link removed because I'm new> - log in and it'll tell you exactly how much you owe and when you have to pay back etc.
    Don't have my customer reference number at hand, will look through that student folder I mentioned later this evening... thanks.
  • neilem
    neilem Posts: 103 Forumite
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    Just an update. Got talking to HR and they said I didn't sign a P46 (nor provided a P45) and HMRC have not instructed them to start deducting student loan payments.

    I'm guessing if the latter didn't take place, then quite a few people would be unaware about having to sign anything.

    Just hope the interest didn't add on too much, will check later when entering my customer reference number on that website you directed me to Kelly.
  • MusicalLawyer
    MusicalLawyer Posts: 700 Forumite
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    Ahhh that is why then!

    Yes that website is just the Student Loan Company repayment thing. You can set up DD's to pay extra (not that you would need to), and you can check you're balance...

    Mine is currently £26,138.72... and I have one more year to go!
    SAVINGS: £63.86 // £3,000
  • neilem
    neilem Posts: 103 Forumite
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    You have one year to pay £26k? How can that be?
  • Derivative
    Derivative Posts: 1,698 Forumite
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    neilem wrote: »
    You have one year to pay £26k? How can that be?

    I suspect that Kelly is referring to having one more year of tuition to pay - so the balance will continue to rise for another year.

    I'm sitting on £10887 of student debt, which I forecast to rise to £28-30k by the end of my degree. Thankfully I have managed to offset it so far with part time work. We'll see if I end in the black in a few years' time.
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  • MusicalLawyer
    MusicalLawyer Posts: 700 Forumite
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    I have one more year to go. My total will be £33,000 ish!

    I have to pay extra for my fee's as my degree is an accelerated one. So I'm doing a 3 year degree, in just 2 years. (I don't get the long summer breaks as I have lectures throughout the whole year). Then I have another course to do, but that's paid for by me.

    I can't wait to finish studying, and start working full time!
    SAVINGS: £63.86 // £3,000
  • neilem
    neilem Posts: 103 Forumite
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    Argh, tried logging in using my Student Support Number (the only reference number I've notice on the financial assessment sheet), but then it is asking for my password and the name of my favourite teacher on the following screen. This is my first time using the online service, and pretty sure I don't have anything on record for what they're asking. Also, when I click on forgot login details, it asks for an email address, which I didn't provide either... might have to phone them.
  • MusicalLawyer
    MusicalLawyer Posts: 700 Forumite
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    Aww that is annoying.

    You will just have to give them a call then :(

    At least you know why you weren't paying it back!
    SAVINGS: £63.86 // £3,000
  • amiehall
    amiehall Posts: 1,363 Forumite
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    Your SSN is not the same as your Customer Reference No. The SSN has letters and numbers. Your CRN (previously called ART ID) is 11 digits all numbers. They should be able to find your record using your SSN if you call them up.
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