I've just got round to checking the repayment plan the Student Loans Company has sent me for this year (a few days late, oops). I live overseas so they don't take my repayments directly out of my wages - I have to sort out the payments myself. I thought the monthly repayment looked very high. It's supposed to be, as stated in the letter, "9% of any income above the repayment threshold".
Well I ran the numbers. I converted my gross income to GBP using the exchange rate that the SLC state on their own overseas earnings threshold page, deducted the repayment threshold amount, and then calculated 9% of the remainder. The number I got was much lower. They've given me a rate that is actually about 14.5% of my income above the repayment threshold - or from another perspective, they're charging me as though as I'm paid about 10k GBP more per year than I am.
I can challenge this, can't I? Or does anyone think I've made an error in the way I've worked this out? Has anyone tried to challenge the SLC and did you have any luck?