In debt to student loan company

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• Little Nell Posts: 1,115

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  26/10/12 - 19:34 #2

  If you had a loan from them it sounds as though you're in debt to them. Being below the threshold at which you start making repayments doesn't mean that the debt doesn't exist. But it doesn't seem as if you're in arrears.
  
  The easist thing would be just to ask them!

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• RickWhite Posts: 1,997

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  26/10/12 - 19:36 #3

  I thought you had to earn over a certain amount before you pay them back... It can't be your fault if you never have surely?
  Build up more debt maybe

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• [Deleted User] Posts: 261

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  26/10/12 - 19:51 #4

  if you took a loan from them and haven't yet paid it back then yes, you are in debt to them.
  
  you don't start making payments until you earn the minimum threshold, but the debt is still there. as soon as you hit that threshold then they'll start taking payments.

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• christina83 Posts: 11,115

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  26/10/12 - 20:15 #5

  Thanks
  We shall see what happens I suppose.

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• christina83 Posts: 11,115

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  26/10/12 - 20:21 #6

  Ok, just looking at the the open university finance form it says I'm not eligible if;
  you are in debt to the University or in arrears to the
  Student Loans Company; or
  you already hold an undergraduate honours degree
  
  So, I'm not in the arrears as I haven't earned enough to pay them back yet, I think I'm correct in saying that.

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• luckylila Posts: 3,681

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  27/10/12 - 09:35 #7

  christina83 wrote: »

  Ok, just looking at the the open university finance form it says I'm not eligible if;
  you are in debt to the University or in arrears to the
  Student Loans Company; or
  you already hold an undergraduate honours degree
  
  So, I'm not in the arrears as I haven't earned enough to pay them back yet, I think I'm correct in saying that.

  
  If you haven't contacted the Student Loans Company to defer payments, they probably do have you listed as in arrears (they have no way of knowing you aren't earning enough if you haven't told them).
  
  You need to contact them (the SLC) - you should be receiving a statement from them every year showing your debt amount, plus a payment deferment form to return let them know that you do not earn enough to be making payments.
  
  Once you've sorted that out, then you can be confident you are not listed as in arrears to them. Hope this helps.

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• [Deleted User] Posts: 2,606

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  27/10/12 - 13:45 #8

  luckylila wrote: »

  If you haven't contacted the Student Loans Company to defer payments, they probably do have you listed as in arrears (they have no way of knowing you aren't earning enough if you haven't told them).
  
  You need to contact them (the SLC) - you should be receiving a statement from them every year showing your debt amount, plus a payment deferment form to return let them know that you do not earn enough to be making payments.
  
  Once you've sorted that out, then you can be confident you are not listed as in arrears to them. Hope this helps.

  
  I get a statement every year, but never a form to tell them I'm not earning enough.

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• alij Posts: 227

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  27/10/12 - 14:58 #9

  JumpTheShark wrote: »

  I get a statement every year, but never a form to tell them I'm not earning enough.

  
  I don' think you have to tell them, as it just kicks in automatically and adjusts depending on how much you earn via HMRC. So yes you have a loan but you are not in arrears.

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• topcat3 Posts: 3,109

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  27/10/12 - 15:32 #10

  RickWhite wrote: »

  I thought you had to earn over a certain amount before you pay them back... It can't be your fault if you never have surely?
  Build up more debt maybe

  
  Its not a question of "fault" they just want to know the amount you owe because that will affect the new loan/finance he is granted

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