Student Loan Deductions

[Pompey Gaz]

well had to make my first payment off my student loan :(

£1

Gutted

Edited April 19, 2008 by Pompey Gaz

[Norfolk n Chance]

Dude, i would edit that post.

That's a lot of personal/financial info to have on the internet!!

:o

[Pompey Gaz]

eeep, is that better Gaz?

cheers for the heads up lol

[Demonic Angel]

£1.00 deductions for a loan..... I bet there are millions of people who'd love to see a deduction of that little!

Gaz - if I were you I would remove the picture entirely and just give the figure - even now it still contains your employer information and your full name....

[Kev Mc]

Costly!!

[vmail]

only £1.00?????

they were taking out £70 - £249 (depending on how much I got paid) out every month, and then PAYE and NI deductions on top of that

cleared it off when they changed the rate from 2.x to 4.x

[Pompey Gaz]

at this rate it's gunna take me about 4000 weeks to pay off

[Jinxed]

is that the amount theyre deducting given consideration to the wage you are earning now?

or did you decide not to defer payment?

I am astounded at that amount but i guess better that than 3 squillion quid a week

[SJandMR2]

£1!!

cant have been much of an education ;)

[1bloke1dog1mr2]

£1!!

cant have been much of an education ;)

Can't be much of a wage either!!

I graduated in '98 with 3 years worth of student loans. I don't have to pay it back until I earn the national average, which apparantly is just under £20k :o

Well I think I'll probably retire before I start earning that and paying it back, here in Pembrokeshire the national minimum wage is thought of as a good earner! I'm sure I heard that it gets wiped off after a certain number of years but the Government always move the goal posts so can't see that happening.

£1 Gaz, sort out the deferments, that's ridiculous!!

[Jinxed]

i was under the impression that you have to be earning somewhat more than 20... if remember the figure was just less than 25.

plus i believe its age 40 the debt gets cancelled....

who'd want to be in that position tho? at age 40 and having a decent education, its quite sad that people likely will get their loans cancelled but then thats the uk imo...

[1bloke1dog1mr2]

I had to defer my loans last month and the figure I was given was just under £20k. I know agreements have changed since I took mine out, but earning £13k as a College technician is a lot of money as it's relative to living costs (council tax etc), AND I'm using my degree.

We don't have kids, have nice cars and don't worry too much about treating ourselves, and if I was earning enough to pay it back, the monthly payments would pale into insignificance. I don't mind having it wiped off when I'm 40 though, blimey, that's only 8 years away :o !!

Just found this..

Loans pre-1998 that haven't ever been in arrears are wiped clean 25 years after your repayments started (even if payments have previously been defferred), if you reach the age of 50 (60 if you were over 40 when you started the loan), if you become permenantly unfit to work or if you die.

With the axing of the 10p taxing band, us people earning a living and not claiming a thing with no kids etc should have a bit of justice! (only 18 years to go now :( !)

[Jinxed]

education seems to do nothing for people in this country anymore, really wish id trained as a plumber or leccy

[Jock Fran]

I've been paying student loan back and I've not even finished uni yet! :o