@ what income do student loan repayments begin for uk student taking loans out in 1996 to 1999?
Question:if you wrere taking out a student loan from the student loans company in uk between 1996 and 1999 is the earnings limit before repayment kicks in £16k, or has the government broken the contract? Also why does studentloans company think its acceptible to sell of loans to debt collectors, even when they're not getting fukd about
Under the terms of your student loan credit agreement, you are expected either to make regular repayments, or to defer repayment if your income falls under a certain level. For loans taken prior to 1998, you can apply to the Student Loans Company to defer your student loan repayments if your gross monthly income falls below the current deferment threshold of £2,034 or less per month. Gross income is calculated before any deductions (for example, Income Tax or National Insurance). You will continue to be charged interest during any period of deferment. For those whose courses started September 1998 or later, however, repayments will commence on earning a minimum of £15,000 a year. As with all loans, however, it's important to maintain communication with the Student Loans Company and to have done (or be doing) your best to make some repayment. Visit the government website below for further info.
I took out a student loan in 1998 and started paying it back when i earnt £14k.
I have never been sent to a debt collectors by student loans co, but I've never been in contact with them to give them nmy details either. They just found me! I see money coming off my salary every month for 'student loan repayment'. I've never questioned - although I'm sure it should be paid back by now.
I'm going to contact them myself - I recommend you do the same to get a straight answer.
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