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Anyone paying back a UK Student Loan?

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  1. #21

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    Dec 2009
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    Sorry for bumping this, but I'm just looking into it... And to be honest, it's a fucking JOKE!! How am I meant to pay a GBP 147 per month repayment.. and my rent considering I earn only 10k???

    I only just realised they have been chasing up on my current details but looking at the correspondance online. I think I will have to own up, I just hope I don't have to pay the 150 GBP fine... As the last letter I got was dated 7th May...

    This really irritates me. Considering how much stress I have already with this pitiful HK graduate wage.


  2. #22

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    Feb 2009
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    How does it work out as GBP 147 per month? I thought you pay 9% of your income over the threshold for the country you’re working in, which in HK (from memory) I think is about GBP 9k per annum.

    If you’re earning HKD10k per month = GBP 10,500 per annum, which means your annual loan repayments would be 9% of GBP 1.5k - about GBP 135 per annum.

    Have I got something wrong here?


  3. #23

    Join Date
    Oct 2006
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    Quote Originally Posted by twitceh:
    Sorry for bumping this, but I'm just looking into it... And to be honest, it's a fucking JOKE!! How am I meant to pay a GBP 147 per month repayment.. and my rent considering I earn only 10k???

    I only just realised they have been chasing up on my current details but looking at the correspondance online. I think I will have to own up, I just hope I don't have to pay the 150 GBP fine... As the last letter I got was dated 7th May...

    This really irritates me. Considering how much stress I have already with this pitiful HK graduate wage.
    why is it a joke? you borrowed money, you should pay it back. Also you got the money as some stupidly low interest rate.

  4. #24

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    Dec 2009
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    Quote Originally Posted by pin:
    why is it a joke? you borrowed money, you should pay it back. Also you got the money as some stupidly low interest rate.
    I regard the threshold as a joke. As what is acceptable to be able to pay rent, eat and pay a respectable amount as repayment.

    Anyways, I missed the 9%, but I submitted the income assessment, and see what is returned.

  5. #25

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    Twitceh

    See my post above - I'm confused as to why you're paying back so much per month on your salary?


  6. #26

    Join Date
    Feb 2009
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    49

    Joke indeed. I was assessed at GBP300 per month last year (after owning up 3 months late, no fine or anything). Just had the re-assessment form through and if I don't fill it in my payment defaults to 147 with seemingly no penalty. Hmm might not fill that in then.

    Not to mention each time we pay out of HKD salary into GBP, we lose money in the conversion.


  7. #27

    my monthly repayments went up by GBP30, despite not getting a pay rise out here. confused as to how they calculate it


  8. #28

    Join Date
    May 2009
    Posts
    675

    Try calling them and speaking to someone there. Tell them what you earn, what your outgoings are, etc. and offer them what you think you can afford. Worked for me. Well, they asked for GBP10 more a month than I offered...but the bloke I spoke to was very reasonable and accommodating.

    Beanieskis likes this.