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    • DanielMorson125
    • By DanielMorson125 8th Apr 18, 11:41 PM
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    DanielMorson125
    Taking a Salary Cut and Overpaying my Student Loan
    • #1
    • 8th Apr 18, 11:41 PM
    Taking a Salary Cut and Overpaying my Student Loan 8th Apr 18 at 11:41 PM
    Hi all,

    I finished university and started working in an unrelated construction role to my business degree for about a year and a half. In the 17-18 tax year, I was earning around 28k a year. Then half way through the tax year I gained a place on a graduate scheme where my salary started on 18k and has now rose to 20k.

    I worked out from my P60 my overall earnings was 22,500 and I should have paid around 135 in loan repayments, but instead from my old pay slips I have paid around 360 in repayments. I have spoke to the student loans and they said I am not entitled to a refund because I earned over the 21,000 threshold and also in my old job i was being paid weekly.

    Does this sound right to anyone, I was looking forward to having some sort of refund
Page 1
    • Ed-1
    • By Ed-1 9th Apr 18, 10:49 AM
    • 2,178 Posts
    • 1,164 Thanks
    Ed-1
    • #2
    • 9th Apr 18, 10:49 AM
    • #2
    • 9th Apr 18, 10:49 AM
    Hi all,

    I finished university and started working in an unrelated construction role to my business degree for about a year and a half. In the 17-18 tax year, I was earning around 28k a year. Then half way through the tax year I gained a place on a graduate scheme where my salary started on 18k and has now rose to 20k.

    I worked out from my P60 my overall earnings was 22,500 and I should have paid around 135 in loan repayments, but instead from my old pay slips I have paid around 360 in repayments. I have spoke to the student loans and they said I am not entitled to a refund because I earned over the 21,000 threshold and also in my old job i was being paid weekly.

    Does this sound right to anyone, I was looking forward to having some sort of refund
    Originally posted by DanielMorson125
    If you are paid weekly then it's 9% over the weekly threshold that's relevant.

    The annual threshold is only relevant if you earn under it in total.
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