Why aren't I paying my student loan back?

growse

growse

growse

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I've been working for the past 10 months on a pretty good salery, but have yet to see any student loans deductions coming out of my paycheque. I'm on the correct tax code and am paying the correct tax, but my only deductions each month are NI, Income tax and my pension. I'm earning more than £14k per year but my net income for this tax year is yet to reach £14k.

At the same time there's a guy in my house who's only been working a few months doing temp jobs, and he's already started to pay his off.

Who should I call? My pay dept? The Government? Student Loans Co (waste of time, so I've heard...)

Thanks :)
 
I earn over 15k. I graduated Summer 2004, started working March 2005. Now it's Feb 2006, and I'm being charged around £30 pm interest on a £9k loan, and I'd really really like to start paying it back. I would pay it back in lump sums, but the Student Loans co have a history of forgetting that people have paid it off and keep taking money out of their pay.....
 
phone them up, and speak to the nice Scottish lady.

they can send you out a paying in book that you take to the bank and put in extra when you want(on top of the monthly DD)

Get rid of the DEBT.. I paid mine off as soon as I could, it's nice to have one less debt..
but if you have CC pay them off first...( cost about 5 times more than student loans)



bullit
 
Agree with you on the CC front. Soon as I got my contract I was down the bank getting a loan at a decent interest rate which I'm paying off nicely.

Still would like to get the student loan done out the paycheque. I'll give the student loans company a call...
 
I earn over the threshold, have been in my job for about 8months and I'm already paying back my student loan. I believe they informed my manager who does the wages, he managed to delay them for a few months before they asked again. Fairly sure they contacted him about it, not sure how he would have known I've even got a loan otherwise.
 
I started paying it back in a job that paid over the threshold in the next financial year (so April) after I left.
 
I just started paying mine back regardless of my salary when i started work, also mine comes out my bank by DD, its not deducted from my pay. I only pay 19 quid a month, its best to start paying it back asap as it takes forever to pay off.
 
It is the cheapest loan you will ever get in your entire life, and most importantly it is undescured! Let it pay itself off - if you are tempted to pay it off early stick the money in a savings account instead and in the long run you will be much better off.
 
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