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UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 12:06 am
by kuma
Does anyone else have fun and games with SLC (UK Student Loans Company) at this time of year?
On 15th March SLC took the final repayment under the 2020-2021 rates by direct debit.
They don’t seem to publish the new overseas repayment thresholds and exchange rates until 6th April (see date of latest update here:
https://www.gov.uk/government/publicati ... dent-loans), though they published the 2021-2022 UK rates in August 2020.
They require the first payment under 2021-2022 rates by 15th April.
My salary changes slightly on 1st April for good measure.
My understanding is that they will write to me requesting an updated overseas income assessment form with new evidence, which can be submitted online. I haven't been through this overseas rate change period before (not for want of trying; see below), so not sure when to expect this request (6th April, by snail mail?), and am preparing a new zaishoku shomeisho in English so I'm ready to go. Might make a preemptive strike on 6th April if haven't heard from them.
I’m very wary of communication with SLC. I spent multiple futile efforts to contact them and get my circumstances straight and my repayments up and running when I moved to JApan. When (after approx three years!), they eventually sent me a repayment request, they did so via snail mail with a repayment deadline the day after the date on the letter. Very fortuitously I happened to check my online account on the day of the letter, and could see the letter online, and was able to take action to get payments up and running. It was still cumbersome, as the imminent deadline meant the first payment had to be manual rather than direct debit, and I had to move money around to be able to do this at such short notice. They also ignored the time period when they’d messed up their communication. I made a manual payment to cover my liability from that period, and sent a letter explaining this and asking them to confirm that I was all square. Silence on the matter for six months and counting.
Due to multiple missteps dating back to my student days, I also wrote to SLC requesting all details they have on me, my loans and repayments as I want to check if there have been other errors over the years. I reckon I’d be eligible for a refund for the year in which I moved to Japan. If feeling masochistic I may brace myself for further communication with them, claim a refund, and invest the cash… though of course that would act to prolong my relationship and communication with them.
Re: UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 2:05 am
by Bushiman
My student loans repayments are a bit wonky... Why? I don't know...
I send them copies of 3 payslips (JAN/FEB/MAR) and the self-assessment form by snail mail... They then calculate how much I have to pay each month for 10months (June ~ March), then I get another letter in March with a re-calculated amount for April and May!?
Re: UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 4:53 am
by Bubblegun
I had dealing with them years ago.
They always sent a letter, which areived after their deadline but I called them and they said not to worry we aren’t going to fine you.
So that was the biggest relief.
I’d send them my tax returns, they accepted them for years then one year they wanted an “official” translation. They always accepted MY translations, and I refused. As this would cost a tone of cash.
But I sent them my tax forms with my notes next to it. And they accepted it.
They did at one point start threading me on the telephone, about how they could affect my credit rating at one point over the years. But they weren’t happy when I said “I live in Japan, and I won’t need a credit rating”. I think it was someone just having a bad day on the phone or they were under pressure to reach a target, but sometimes they were helpful and sometimes darn right aweful, when I said I couldn’t pay by a certain date.
I would always pay by Cheque, just to wind them up. My final cheque was for the final amount minus the postage as it would cost them,more to send me the forms. ( just because they were being awkward).I even got a certificate to prove my earnings from the city with a stamp on it and they still weren’t happy.
I wonder if the institutions in the UK think the whole world revolves around English and can just produce things on a whim.
Right now I’m having self assessment problems in the UKs as the computer system isn’t sending me a code to my phone, they won’t accept an old passport number and I don’t have a credit check ability.
.
Re: UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 8:05 am
by kuma
Bushiman wrote: ↑Tue Mar 16, 2021 2:05 am
My student loans repayments are a bit wonky... Why? I don't know...
I send them copies of 3 payslips (JAN/FEB/MAR) and the self-assessment form by snail mail... They then calculate how much I have to pay each month for 10months (June ~ March), then I get another letter in March with a re-calculated amount for April and May!?
Ahh, that 'system' might explain things. Pay the wrong amount for 2 months, then get it corrected 10 months later (which could be a big bill if circumstances changed quite a lot from one year to the next), then pay the wrong amount for 2 months; rinse and repeat.
Thus, my assumption/understanding below was wrong:
They require the first payment under 2021-2022 rates by 15th April.
They request new evidence and apply new payment thresholds and exchange rates in April, but continue taking repayments at the old rate, then rebalance at the end of the tax year. It's a shame they can't/don't take the correct amount at the correct time. Move forward the submission of evidence and publication of new overseas thresholds and exchange rates), and avoid this issue.
Re: UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 8:35 am
by kuma
Bubblegun wrote: ↑Tue Mar 16, 2021 4:53 am
I had dealing with them years ago.
They always sent a letter, which areived after their deadline but I called them and they said not to worry we aren’t going to fine you.
So that was the biggest relief.
I’d send them my tax returns, they accepted them for years then one year they wanted an “official” translation. They always accepted MY translations, and I refused. As this would cost a tone of cash.
But I sent them my tax forms with my notes next to it. And they accepted it.
They did at one point start threading me on the telephone, about how they could affect my credit rating at one point over the years. But they weren’t happy when I said “I live in Japan, and I won’t need a credit rating”. I think it was someone just having a bad day on the phone or they were under pressure to reach a target, but sometimes they were helpful and sometimes darn right aweful, when I said I couldn’t pay by a certain date.
I would always pay by Cheque, just to wind them up. My final cheque was for the final amount minus the postage as it would cost them,more to send me the forms. ( just because they were being awkward).I even got a certificate to prove my earnings from the city with a stamp on it and they still weren’t happy.
I wonder if the institutions in the UK think the whole world revolves around English and can just produce things on a whim.
That sounds fun!
Re: UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 4:11 pm
by Bubblegun
Bubblegun wrote: ↑Tue Mar 16, 2021 4:53 am
I had dealing with them years ago.
They always sent a letter, which areived after their deadline but I called them and they said not to worry we aren’t going to fine me.
So that was the biggest relief.
I’d send them my tax returns, they accepted them for years, then one year they wanted an “official” translation. They always accepted MY translations, and I refused. As this would cost a ton of cash.
But I sent them my tax forms with my notes next to it, as usual. And they accepted it.
They did at one point start threatening me on the telephone, about how they could affect my credit rating at one point over the years. But they weren’t happy when I said “I live in Japan, and I won’t need a credit rating”. I think it was someone just having a bad day on the phone or they were under pressure to reach a target, but sometimes they were helpful and sometimes darn right aweful, when I said I couldn’t pay by a certain date.
I would always pay by Cheque, just to wind them up. My final cheque was for the final amount minus the postage as it would cost them,more to send me the forms. ( just because they were being awkward).I even got a certificate to prove my earnings from the city with a stamp on it and they still weren’t happy.
I wonder if the institutions in the UK think the whole world revolves around English and can just produce things on a whim.
Right now I’m having self assessment problems in the UK as the computer system isn’t sending me a code to my phone, they won’t accept an old passport number and I don’t have a credit check ability.
.
Re: UK student loan repayments: time for fun and games?
Posted: Tue Mar 16, 2021 10:06 pm
by Yossarian
I sometimes think about just paying the whole thing off so I don't have to deal with them.
Re: UK student loan repayments: time for fun and games?
Posted: Mon Mar 22, 2021 5:16 am
by Roger Van Zant
Yossarian wrote: ↑Tue Mar 16, 2021 10:06 pm
I sometimes think about just paying the whole thing off so I don't have to deal with them.
I took this route. I deferred repayment for years and years, but my final direct debit will be taken on April 10th and that will be that. Nice not to have it hanging over me any more. I was dealing with a company called Erudio as my student loans were taken out between 1997 and 2001.
Re: UK student loan repayments: time for fun and games?
Posted: Tue Apr 13, 2021 4:30 am
by Gareth
Smooth sailing for me on this fortunately. Guess I'm lucky to have never had a problem with the Student Loans Company.
Received an email on April 3rd asking for updated proof of income. I'm self-employed and uploaded a copy of my 2020 shiharai chosho (income and tax withholding report) for my one source of income, which fortunately comes with an English translation. Today, I received confirmation of how much the direct debit will be for June 2021 until March 2022. I usually receive a letter every February to change the amount for April and May, which is usually just an adjustment of about two or three pounds.
Was thinking of bunging over a wad of cash to pay off part of it but as the exchange rate is bobbins at the moment, I haven't done so.
Hope your experiences this year go well!
Re: UK student loan repayments: time for fun and games?
Posted: Tue Apr 13, 2021 4:39 am
by Bushiman
Gareth wrote: ↑Tue Apr 13, 2021 4:30 am
I'm self-employed and uploaded a copy of my 2020 shiharai chosho (income and tax withholding report) for my one source of income, which fortunately comes with an English translation.
Does it give you the options of what documents to submit online?
I've always had to get my school secretary to print off my last 3 paycheques with my name changed to romaji, then I post those off with the the self-assessment form I'm usually sent (not received yet)... Can I scan these paycheques and upload them, or do I have to locate other documents?
Cheers...
