To ask about UK student loan repayments?

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I took out a student loan before 2012 (when the higher fees came in), so my loan comes under the Plan 1 student loans.

A couple of months ago, I started my first full-time since leaving university in 2015, but neither my payslip for this month or last month shows any money deducted from my salary by Student Finance.

From what I’ve heard, Student Finance automatically deduct money from your payslip once you earn above a certain amount. I definitely earn above the repayment threshold, although nothing’s been deducted yet.

Do I need to get into contact with them myself to let them know that I’ve got a new full-time job and that I’m now earning above the repayment threshold?

It may take a month or so for them to catch up, but there will most definitely be a separate and identifiable line on your payslip showing how much they are taking. The calculate your payment based on your earning pre tax.

I think the threshold may have gone up to around 25k recently if that makes a difference?

It takes a bit of time. After your first payroll the software will update the various agencies. Then they’ll come back to your employer (electronically) with details about tax codes and student loan deductions.

It might take another couple of weeks to update the payroll etc so it’s possible to miss 2 pay packets but it would usually only be one.

Did you have a P45 or fill out a New Starter checklist?

Thanks everyone.

Yep merryoldgoat I filled in a New Starter checklist just after starting the role and also sent my P45 a few weeks ago to the HR department at my current company.

I’d expect deductions to kick in next payroll. Pop in and ask them if they’ve had any RTI notifications for you. I don’t know what size company you work for but payroll clerks can sometimes be a bit lacking in experience in smaller places.

Repayment for Plan 1 is 9% of everything earned over £18,330. Not £25k, sadly!

Did you tick the box on your new starter form with HR saying you are on a plan 1 student loan? If not then get in touch with Payroll as a first port of call. Otherwise, when the SLC send you the annual letter to ask you to provide you’re still unemployed, you’re going to have to pay them a lump sum for the year once they realise you’re in employment. Sort it out with Payroll ASAP