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# sfe's Repayment Calculator Watch

1. Hi I used this sfe's Repayment Calculator

http://www.sfengland.slc.co.uk/full-...repayment.aspx

why the amount I am paying annually is not fixed while my salary is fixed?
I thought it is meant be fixed at the repayment is always 9% x (your salary - 21k)

when the salary is greater than 21k.

Oh do they assume why salary increases about 2.6k every year? is it a realistic assumption?
2. (Original post by mathsymathsy)
Hi I used this sfe's Repayment Calculator

http://www.sfengland.slc.co.uk/full-...repayment.aspx

why the amount I am paying annually is not fixed while my salary is fixed?
I thought it is meant be fixed at the repayment is always 9% x (your salary - 21k)

when the salary is greater than 21k.

Oh do they assume why salary increases about 2.6k every year? is it a realistic assumption?
They don't know EXACTLY how much you're going to earn if you start out on £22k per year - so they assume you will get pay rises etc.

You pay 9% of the difference of your wages and £21,000.

If you earn £22,000 per year, you pay £7.50 per month.
If you earn £25,000 per year, you pay £30 per month.

Payments are fixed each month. Unless you do overtime etc then you might pay a little more.

It's on here - http://www.studentfinance.direct.gov...S_8_ONLINE.PDF
3. (Original post by Knalchemist)
They don't know EXACTLY how much you're going to earn if you start out on £22k per year - so they assume you will get pay rises etc.

You pay 9% of the difference of your wages and £21,000.

If you earn £22,000 per year, you pay £7.50 per month.
If you earn £25,000 per year, you pay £30 per month.

Payments are fixed each month. Unless you do overtime etc then you might pay a little more.

It's on here - http://www.studentfinance.direct.gov...S_8_ONLINE.PDF
Hi, thanks for your answer. Do you know whether interest and inflation is charged monthly or annually?
4. (Original post by mathsymathsy)
Hi, thanks for your answer. Do you know whether interest and inflation is charged monthly or annually?
It is added yearly, every September.

I am only charged inflation, not interest. It depends on when you leave/left university and how much you're earning.
5. (Original post by Knalchemist)
It is added yearly, every September.

I am only charged inflation, not interest. It depends on when you leave/left university and how much you're earning.
Sorry to bother you again,

Is it still possible to change amount I am borrowing from sfe once I have submitted the application in?
If yes, then when is the final deadline?
6. (Original post by mathsymathsy)

Sorry to bother you again,

Is it still possible to change amount I am borrowing from sfe once I have submitted the application in?
If yes, then when is the final deadline?
Yeah you can change it. You need to submit a 'change of circumstances' form I believe.

The deadline for new students is May 31st, for continuing students it is sometime in June.
7. Hi!! So, if my salary is constant, my repayment amount does not vary over the years either. Is this right?

Thanks a lot
8. No, it is linked to whatever the RPI is which can change.
9. But if I earn 25000 a year. Then i'll have to repay 9% of anything over 21000, which is 4000 in this case.

Then, if I always earn 25000 during 30 years, i will always repay 9% of 4000... or not? haha i'm confused...

Do u know how much will i have to repay in this case? Thanks a lot! I'm rubbish at money matters...
10. (Original post by I.M.)
But if I earn 25000 a year. Then i'll have to repay 9% of anything over 21000, which is 4000 in this case.

Then, if I always earn 25000 during 30 years, i will always repay 9% of 4000... or not? haha i'm confused...

Do u know how much will i have to repay in this case? Thanks a lot! I'm rubbish at money matters...
Im not an expert in this, but From my understanding,

Your debt changes with RPI, but if your salary is fixed, then the amount of repayment keeps the same unless you wanted to pay extra.
11. Ok thanks!
But then, if I always earn £25,000 i repay £360 every year... After 30 years I will have only repaid £10,800...

Isn't the government losing money??

Thanks for all the help, I'm EU student and we don't have this system over here X

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Updated: April 16, 2013
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