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Student Loan
Bunnie
Posts: 6,099 Master Poster
What is the minimum student loan repayment?
Is it still that you need to be earning 15k before they take money from you?
Is it still that you need to be earning 15k before they take money from you?
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:yes:
Student loans company have a nast habbit of selling their debt too
I think it's something along the lines of, companies will have a debt book with everyone who has debt, if you don't pay up they lose money to 'bad debts' so will sell the debt (for less than it's worth - which is why most companies will negotiate) to specialist debt recovery firms (i.e. bailiffs).
Not heard of the SLC doing this though, but I'm still at uni
:yes: HMRC will inform your employers when to start making deductions. Bear in mind if you get paid over £15K a year your allowance will go against your main salary and any bouns/comission will have a straight 9% taken off.
The student loan is taken directly from your pay packet under PAYE. If you're not earning then you don't pay.
Er, no they don't.
There are some differences for the old style student loan, but there are very few people on this style of loan. It sounds like you might be on the old style loan, and you can ask for a postponement on your payments if you're earning under the threshold.