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Student Loan on Mat Leave

(5 Posts)
AlbusPercival Mon 25-Jul-16 08:13:52

Does anyone know how this works? Have tried asking HR but they are completely unhelpful.

My student loan is still with the student loans company, and repayable after earning around 10k a year I think.

Going on Mat Leave in October. Very lucky in that I get full pay for a while, so assume SL will be deducted from that as usual. The tricky bit is when my salary stops. I had assumed I just wouldnt have it deducted, as I wont have any earnings to deduct it from. But HR have said I need to make arrangements with my bank to repay it? That seems unlikely? Anyone know?

penguinplease Mon 25-Jul-16 08:15:39

No you don't have to pay it if your earnings are below the threshold and maternity pay will take you there.
It will just be re started when you earn above again.

AprilShowers16 Mon 25-Jul-16 08:17:49

No you won't start paying it back until your pay goes above the threshold which is prob 15k depending on when you graduated. It should just automatically start again when that happens

AlbusPercival Mon 25-Jul-16 08:24:13

ok, great. thanks.

Ilovetea82 Mon 25-Jul-16 08:34:32

You'll probably pay it for the bit that you are getting at full pay as they will assume you'll be being paid that every month, then when it drops down to statutory it will start to average out.
My previous company messed mine up when they made me redundant and I they took tax ni and sl off my redundancy pay - was able to claim the tax&ni bit back but got a too bad from slc

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