Wrong student loan repayment plan Watch

LauraKnowles
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Hey guys, this is a throwaway account because I'm just embarrassed...

I got my first job last year in January. When filling out the form for my employer when I joined, I was asked which Repayment Plan for student loans I'm on and can't remember which one I ticked, but now I think it might have been the wrong one. Stupidly of me, I only had a close look at my paycheck now to see whether the amount they are deducting is the correct one and I think I might be underpaying my loans. Now I'm scared I will get in trouble...

I'm not the strongest in maths, but as per my last payslip, I earned £2303.67 before tax, and the Student Loan deduction for it last month was £19. After looking up online, it seems like this is more in keeping with Plan 2 Repayment. However, when I applied for student loans, I was resident in Northern Ireland (Plan 1), but was going to study in England - which is why I think I got confused when ticking the right repayment plan option.

I also checked my payslips from January - August last year, (before my salary went up in September) and they seem roughly correct - I earned £2136 per month and paid off £54 in student loan deductions. So I am a little confused now.

I'm really nervous now - should I get in touch with Student Loans and explain this was an honest mistake, or... what should I do? I know I messed up.
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monkeyman0121
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might as well get in touch and ask them if you have made a mistake, and how to sort out that mistake.
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doodle_333
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Just tell them. Worst case scenario you have to pay a bit back that you owe. They aren't going to get mad if you've tried to fix the mistake.
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mnot
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(Original post by LauraKnowles)
Hey guys, this is a throwaway account because I'm just embarrassed...

I got my first job last year in January. When filling out the form for my employer when I joined, I was asked which Repayment Plan for student loans I'm on and can't remember which one I ticked, but now I think it might have been the wrong one. Stupidly of me, I only had a close look at my paycheck now to see whether the amount they are deducting is the correct one and I think I might be underpaying my loans. Now I'm scared I will get in trouble...

I'm not the strongest in maths, but as per my last payslip, I earned £2303.67 before tax, and the Student Loan deduction for it last month was £19. After looking up online, it seems like this is more in keeping with Plan 2 Repayment. However, when I applied for student loans, I was resident in Northern Ireland (Plan 1), but was going to study in England - which is why I think I got confused when ticking the right repayment plan option.

I also checked my payslips from January - August last year, (before my salary went up in September) and they seem roughly correct - I earned £2136 per month and paid off £54 in student loan deductions. So I am a little confused now.

I'm really nervous now - should I get in touch with Student Loans and explain this was an honest mistake, or... what should I do? I know I messed up.
yea just calls student loans company ask what plan, then if u need to change go to your HR or finance dept or whomever at your company sorts this and let them know to switch it.

Its an honest mistake, and if its only 1 month im sure it will be fine, they might just make you pay back whatever else you owe from last month...
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