Repaying your student loan

Whether you're a new student or about to finish your course, if there's something you want to know about repayment, ask our experts.

Nicholas has worked at the Student Loans Company for more than three years. He specialises in all aspects of repayment.

Duncan is a member of the HMRC Student Finance Team. He is responsible for producing guidance relating to HMRC's part in the student loan repayment process. This includes guidance for borrowers on the Gov.uk website. He works in partnership with colleagues from Student Loan Company to help make the process as smooth as possible.

Hi, in 2012 we were told that the amount you have to earn before repaying would go up as annual income increases, so the £21,000 should be higher by the time we finish university, is that correct? As it does seem unfair that they are thinking of freezing the amount again, meaning we will have to pay back more than people back then. To be completelt honest, £21,000 isn't as good of a wage as it was back then. I also think it should increase due to the fact that grangs have been scrapped, it is starting to seem like they are just picking on the poorest students.

I graduated last year and after some postal issues I've been sent the declaration I need to fill out for repayment since HMRC can't match my records. There are two forms, living in the UK or living overseas.

I'm currently on a masters programme abroad (in the EU) but the overseas form is worded in a way that declares me resident in that other country.

This is a major issue. I'm applying for PhDs back home in the UK and I've been assessed as a home student (but my funding applications are still pending on the basis of home status). If I'm not resident in the UK for 3 years prior to starting the PhD then I'm classed as an EU student and not eligible for the full amount.

Obviously this seems ridiculous that I could be classed as EU when I'm a UK citizen abroad temporarily for study.

If I declare to student finance that I'm studying abroad and that info is passed to HMRC is that going to affect my home status for PhD funding (either through the university or the research council)? I obviously still have a UK home address.

Hello,

I have just 2 short questions. After I graduate, I will only start to repay my student loan after I earn more than £16000 as I'm a student from Northern Ireland, although I study in England. Do these payments automatically start when I first get paid or do I have to inform someone of this?

Thanks

Hi,
I'm going to apply for student finance as I'm starting university in September.
I have saved up some money this year and at any point in my studies my parents might also get the opportunity to help me repay my student debts so far.
How does repayment work? Can I repay before the end of my studies, in one go? And if I can get private finance for, let's say, my third and fourth years, can I stop receiving student funding for these years if I give a warning early enough?
If you could please explain how this works, it would be very appreciated, thank you.
Valentine

Hello, thanks for taking the time to learn about my problem

A little bit of background: I started Uni in 2014/15 academic year and took temporary leave early in Semester 2 on health grounds. Because of this the tuition fee for that year was halved.

Returning to Uni in this (2015/16) academic year from the start of Semester 2, the university does not require any tuition fee for this year. So, in my application to SF I put £0 on the tuition fee loan amount. This was upheld and agreed to on the declaration and such.

So, here's the thing: I'm now getting paid a tuition fee loan amount of around £4,500 directly to me. It won't be going to the University because they don't need it, I already have my maintenance loan and grant so I don't need it, and to be honest I don't know how this will stand in terms of repayment so I don't want it.

I suppose my question is if it does come to me is there a way to pay it straight back? Or if I did keep it, would it stack on top of my loan fees to be paid back AFTER university, or will they ask for it back as soon as they think I've been overpaid?
Is it a mistake they have made? Or should I just not worry about it and pay it off with the rest of my loans as usual after Uni?

Thanks in advance for any answers and/or advice, I really appreciate it

Hi All

Basically last year (december 2015) my uni recommended I leave university as my health was and still is on the decline Anyway, after lots of upset, mis information given and everything that goes with it, along with an unsuccessfull appeal and being accused of fraud by SFE (as my parents care for my younger severely autistic brother whom of which has multiple disabilities they couldn't afford to not make me pay rent; so I gave them the majority of my loan/grant, the rest going on books for the course and travel to and from college)

Anyway, with a now £780 debt to pay; I am really confused; as keep getting a letter from student finance telling me my loan application was successful O.o I am just finding them so confusing