Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    18
    ReputationRep:
    I received support from Student Finance England (SFE) for my undergraduate degree, and made repayments when earning over £15,000. Either this year or next, I will start a NHS funded degree and take out a non-means tested student loan from SFE to supplement NHS funding.

    I would like to know what the repayment situation will be once I graduate given the changes to student funding and HMRC's new real-time PAYE system. Will my student loans be kept separate? For example, if I earn £16,000 will I only repay my original loan? Or if I earn £25,000 will I have two separate deductions? This seems highly unlikely and unpractical. The only thing I can think of is that my new loans will be simply added to my old account and I will continue to pay x amount over £15,000 or my old loans will be changed so I pay y amount over £21,000.

    Any clarification would be much appreciated.
    • Official TSR Representative
    Offline

    2
    ReputationRep:
    Official TSR Representative
    Hi Evan,

    In this circumstance you will have deductions taken when you earn over the lower threshold.

    At the end of the tax year when we receive your repayments we will calculate the amount to be applied to your original loan and the amount to be applied to your newer loan.

    If you earn above the existing threshold but not above the new threshold then this means that any repayments taken will be paid to your original loan.

    Hope this helps,
    Mark-Lee
 
 
 
Reply
Submit reply
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: March 28, 2013
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Would you like to hibernate through the winter months?
    Useful resources

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.