Hi, so I started uni in September 2013, and left after completing my first year as I was fortunate enough to be offered a job during my summer of 2014 in my field of interest! I have been earning above the £21k threshold since September 2014 but due to my job beginning as a paid work placement (so I wasn't paying anything back with full intentions of returning to uni) and then being made into a full time position, I guess it was never questioned as they already had me on payroll - I have only recently realised that I haven't been paying my student loan back (as we were always told it would be taken automatically so I have never questioned it). My course fee for that year was £8750 and I never took any type of maintenance loan so as far as I was concerned that is what I should owe. Having managed to log on to my student loans account just now I can see my balance is £9938 - so I have two questions:
- Why has my balance gone up by £1200 when I have had no correspondence or requests to start paying my loan as well as being led to believe it was 0% interest when I started uni. I can't seem to find an explanation or figure out why it has increased by this much? The last time they contacted me was in the summer of 2014 confirming that I was borrowing £0 for year 2 (as I wasn't returning I didn't ever apply for more finance)
- How do I now go about paying this back/should I ?! I also plan on leaving my job to go travelling in the latter part of next year so what will happen then? Will they be demanding the last 2 years worth of payments though the fact I haven't been paying is of no fault of my own?
Sorry for the mass info I just thought it might be easier to answer with the more details I give.
Are you going to achieve yours?