UK Student Loan Repayments?
I graduated from uni 6 years ago with a loan of about 9k. I’ve changed address a couple of times since then and my wage at the moment is over £20k per year. I’ve never made any repayments, or seen anything on my payslip that shows any deductions have been made, or had any letters from the SLC and I’ve also had a gander at my credit report on Experian and there’s nothing about it on there either. Why not? And should I just leave it ?
With regard to your credit report with experian a student loan would not appear on that. The loan itself will still be outstanding and will be accruing interest at a rate of around £30 per month so your loan will now be around £11k.
If it is not appearing on your payslip it will mean no deductions have been made and thus you have not made any repayments.
With regard to leaving it, you could take the risk and hope tat they never catch up with you. However i think this probably highly unlikely and the longer you leave it the larger the debt will grow.
On your current salary you will be eligible to make student loan repayments as the threshold is £15k. You pay around 8% per month of anything over and above the £15k that you earn thus around £400 per annum in your case.
Hope this helps.
