retired_globalmall

I'm tempted to pay all of mine off in one go, but I think it works out better just to pay off what they ask for and collect the interest oin the rest

retired_leaf9

All the numbers go through the same automatic system. The best thing to do is keep hitting "0" until it puts you into the queue.

retired_lgrimz

Ah didnt know about the pressing 0 part

retired_burnthefat

SLC - My Favourite Company

Went to two Uni's. When applying for the 2nd Uni, I gave them the student number I had for the 1 year I spent at Keele. They give me a new number and I recieve my loan for the first year, and the second year. Come the 3rd year they realise I have 2 'live' numbers and withold my loan, after months of phonecalls back and forth I finally get the money.

I graduate, and I think I have had the last of my troubles with the SLC and not have to worry until I have to start paying them back.

That was until I recieved several letters from them saying I am entitled to a student loan for the yea, now I would have loved to take their money as I was only temping at the time. I tell them I have graduated, and they say they'll sort that out. Problem over, or so I thought. When changing the details for me, they (or someone else) somehow managed to select the option to delete all my student funding from the LEA, which led to a letter from University of Herts saying that I owe them £7k within 7 days. Eventually got that sorted, but what a mess.

btw are the Student Loan repayments tax deductable?

retired_kevh16

Not currently paying anything on my student loan :cool: Repayments start in April. And will be about £70 a month I think. Can I just check with those currently paying their student loans off, does it come out of you net salary? The only info I can find says it comes out alongside.

san

AS I understand it they take 9% of anything above £15,000

Thus to pay back £70 per month you would need to be earning circa £25,000

retired_kevh16

yeah, my salary is £26,000. Was just wondering if it was out of net or gross.

As if it was out of my net salary then it will be about £70 and if its gross salary about £90.

retired_globalmall

they take over £100 a month from me

retired_bemesel

It used to be tied to a different measure of inflation before. It would be less than 2% now.

The government has hiked the interest rate to make a profit.


If you really need a loan, its the best one as you don't start paying until you can actually afford to.

retired_shelly518

take the loan out and treat it like another tax off your salary, even if you're earning only £15k per year it pretty much nothing off per month.

I think I worked our I would pay it off by 2032 since I will only ever pay the minimum amount out, paying it off early is for chumps just stick the extra money in an high interest savings account.