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  • FIRST POST
    • rachlikeswinter
    • By rachlikeswinter 6th Aug 18, 9:12 PM
    • 58Posts
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    rachlikeswinter
    Student Loan - Statement says I incorrectly paid £0 last year
    • #1
    • 6th Aug 18, 9:12 PM
    Student Loan - Statement says I incorrectly paid £0 last year 6th Aug 18 at 9:12 PM
    Hi all,



    I got my annual Student Loan statement (for April 2017 - April 2018) in the post as usual, only this year it says £0 in the 'Total repayments received during statement period.' I know this is incorrect as I have payslips from last FY showing I paid around £600 total. So.. where has this money gone? Is it lost between HMRC and SLC somewhere?


    One thing to note is that I know you don't pay any student loans (Plan 1) if you earn less than £18.5k. I checked my P60 and my total gross earnings last year were around £19.2k - could this be the reason? And if so am I due a refund? (I'd rather the money just go towards my balance if I'm honest.. and still doesn't explain where those deductions are currently sitting?)


    Also to pre-empt questions about why I would have repayments coming out if that were my low salary - for 7 months of the year I was earning £30k so repayments were based on that pro rata salary, and then 5 months of the year I was working in France being paid a V. low (but declared to HMRC) wage of about £500 p/m.


    Any thoughts before I call SLC and/or HMRC? I dread dealing with both of them so wondered if any light could be shed before I do.


    TIA!
Page 1
    • DrEskimo
    • By DrEskimo 6th Aug 18, 9:51 PM
    • 189 Posts
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    DrEskimo
    • #2
    • 6th Aug 18, 9:51 PM
    • #2
    • 6th Aug 18, 9:51 PM
    I got my statement through and it suggested I paid only £704, when in fact I have paid £1,909....

    I rang and when they checked their systems, it said I had paid £1,909, so I was at a loss why they sent a statement with the wrong number...
    • rachlikeswinter
    • By rachlikeswinter 6th Aug 18, 10:44 PM
    • 58 Posts
    • 154 Thanks
    rachlikeswinter
    • #3
    • 6th Aug 18, 10:44 PM
    • #3
    • 6th Aug 18, 10:44 PM
    I got my statement through and it suggested I paid only £704, when in fact I have paid £1,909....

    I rang and when they checked their systems, it said I had paid £1,909, so I was at a loss why they sent a statement with the wrong number...
    Originally posted by DrEskimo

    Interesting. I checked online and that system is also showing £0. Guess I should call I just wonder whether it's SLC or HMRC I should be calling. As it would indicate HMRC took the deductions but haven't passed them on.



    It's mostly annoying because I incurred £200 interest last year, which of course is interest on the higher, incorrect balance rather than the balance it should be, if that makes sense. So my balance has increased rather than decreased for the first time, because they think I made no payments =/
    • DrEskimo
    • By DrEskimo 6th Aug 18, 11:01 PM
    • 189 Posts
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    DrEskimo
    • #4
    • 6th Aug 18, 11:01 PM
    • #4
    • 6th Aug 18, 11:01 PM
    SLC seemed to clear the situation up for me.

    I can't find the relevant literature to confirm this, but based on how the annual statement is set out it would seem that the loan is not paid down each month from your monthly earnings, but rather it's accumulated and then at the end the total years contribution is used to pay down the loan.

    As such, you have incurred the same amount of interest this year whether you paid £0 at the end or £200. It will of course affect next years interest amount, as you will be earning 1.5% (soon to be 1.75%) on an amount that is £200 higher than it should be.

    In any case, even still 1.5% of £200 is only £3....!

    Oh and you can apply for a refund if you think you have overpaid, but as you say, probably best to leave it so your loan is £200 less, unless you really need that £200?
    • Nasqueron
    • By Nasqueron 7th Aug 18, 10:04 AM
    • 5,268 Posts
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    Nasqueron
    • #5
    • 7th Aug 18, 10:04 AM
    • #5
    • 7th Aug 18, 10:04 AM
    You can go on the SLC website and tell them if you have paid more than they think you have and provide details.
    • rachlikeswinter
    • By rachlikeswinter 16th Aug 18, 1:17 PM
    • 58 Posts
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    rachlikeswinter
    • #6
    • 16th Aug 18, 1:17 PM
    • #6
    • 16th Aug 18, 1:17 PM
    You can go on the SLC website and tell them if you have paid more than they think you have and provide details.
    Originally posted by Nasqueron
    Can you? I went on recently and couldn't find anything like this - however their website isn't exactly UX friendly so I may have missed it.

    Will go back on when I have a sec and see what I can find. Still haven't been able to carve out any time to actually call them.

    SLC seemed to clear the situation up for me.

    I can't find the relevant literature to confirm this, but based on how the annual statement is set out it would seem that the loan is not paid down each month from your monthly earnings, but rather it's accumulated and then at the end the total years contribution is used to pay down the loan.

    As such, you have incurred the same amount of interest this year whether you paid £0 at the end or £200. It will of course affect next years interest amount, as you will be earning 1.5% (soon to be 1.75%) on an amount that is £200 higher than it should be.

    In any case, even still 1.5% of £200 is only £3....!

    Oh and you can apply for a refund if you think you have overpaid, but as you say, probably best to leave it so your loan is £200 less, unless you really need that £200?
    Originally posted by DrEskimo
    Yes you're probably right - just frustrating I have to sort it out as I thought the whole process was supposed to be automated/PAYE seamless etc. Will update when I've managed to speak to someone.
    Last edited by rachlikeswinter; 16-08-2018 at 1:18 PM. Reason: reply
    • campbell19925
    • By campbell19925 16th Aug 18, 1:18 PM
    • 138 Posts
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    campbell19925
    • #7
    • 16th Aug 18, 1:18 PM
    • #7
    • 16th Aug 18, 1:18 PM
    Same for me, I rang up and queried this and it was because I had a change in job, could this be the case for you?

    They told me I would get another letter shortly confirming the correct amount. I am still waiting.
    • rachlikeswinter
    • By rachlikeswinter 16th Aug 18, 1:38 PM
    • 58 Posts
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    rachlikeswinter
    • #8
    • 16th Aug 18, 1:38 PM
    • #8
    • 16th Aug 18, 1:38 PM
    Same for me, I rang up and queried this and it was because I had a change in job, could this be the case for you?

    They told me I would get another letter shortly confirming the correct amount. I am still waiting.
    Originally posted by campbell19925
    Yes I had 2 jobs (non overlapping) last tax year, but then that happens a lot (I'm a contractor and I also work in France in the winter) and this is the first time I've had this issue..

    I am unsurprised you are still waiting. Whenever I've dealt with SLC in the past it has been so painful. Probably why I'm putting off calling them.
    • Nasqueron
    • By Nasqueron 16th Aug 18, 1:53 PM
    • 5,268 Posts
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    Nasqueron
    • #9
    • 16th Aug 18, 1:53 PM
    • #9
    • 16th Aug 18, 1:53 PM
    Can you? I went on recently and couldn't find anything like this - however their website isn't exactly UX friendly so I may have missed it.

    Will go back on when I have a sec and see what I can find. Still haven't been able to carve out any time to actually call them.
    Originally posted by rachlikeswinter
    I forget the exact place as I'm at work and no access but there is an option on the bar on the left when you are logged in, possibly under contributions/balance where you can see what you paid and they have an option to tell them if you paid and they didn't register it and then give them payslips or something. Do remember that they take ages to pick it up, they get told by HMRC in April what you paid and they then take it all off your total, add interest etc and you get your new total.
    • Nasqueron
    • By Nasqueron 16th Aug 18, 10:24 PM
    • 5,268 Posts
    • 3,193 Thanks
    Nasqueron
    Site https://secure.studentloanrepayment.co.uk



    On the site you need to go to the option My Accounts on the left, then click on Balance Calculator. It then lets you provide details of student loan deductions for any years they don't have data for (the current tax year is not calculated until 2019). Maybe this is different depending on who has the balance, I started in 1999 and finished 2004 if that is of any use
    • stevedalton225
    • By stevedalton225 17th Aug 18, 8:56 AM
    • 1 Posts
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    stevedalton225
    If you donít have the money to give yourself a good education, then availing an education loan is a very good idea. You are the engine of your career growth. If you invest in knowledge today, you will reap the benefits, throughout your life. Consider an education loan as an investment. Education is an investment in yourself. It is what you call a good loan.
    • Shakin Steve
    • By Shakin Steve 17th Aug 18, 12:08 PM
    • 1,506 Posts
    • 1,247 Thanks
    Shakin Steve
    If you donít have the money to give yourself a good education, then availing an education loan is a very good idea. You are the engine of your career growth. If you invest in knowledge today, you will reap the benefits, throughout your life. Consider an education loan as an investment. Education is an investment in yourself. It is what you call a good loan.
    Originally posted by stevedalton225
    Errrrr.......yes
    I came into this world with nothing and I've got most of it left.
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