Student Loan and Maternity Pay

Discussion in 'Pregnancy Chat' started by Louloubelle84, Jun 11, 2013.

  1. Louloubelle84

    Louloubelle84 Well-Known Member

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    Hi,

    Sorry if someone has posted about this before however I am just wondering if anyone knows if I need to contact anyone regarding repayments of my student loan whilst I am on maternity leave?

    Do the repayments continue whilst I am on SMP does anyone know?

    thanks xx
     
  2. Zazu

    Zazu Well-Known Member

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    I don't think so, is it not a % of your earnings when you are earning over a certain amount, so if you are earning smp it won't be over that threshold. X
     
  3. Tigger87

    Tigger87 Well-Known Member

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    You only pay a % of what you earn over £15k in one year, and it's taken off you in the same way as tax is, from your wage before you get it. I don't think you ever get it refunded, so unless your maternity pay is enhanced well, you'll probably stop paying it :)
     
  4. Squeakz

    Squeakz Well-Known Member

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    Student loan repayment is basically repaid based on monthly average.......sooooo if your monthly salary would mean over 12 months you earn over 15k you will be taxed . Eg my oh has a tax free research grant of x amount and he lectures which is based upon an hourly rate........one month because of how much he had lectured and marked he earned 4k....the slc thought that this therefore meant he earned 48k a year and so took the proportionate amount of loan repayment whereas in ACTUALOTY he gets a lot less than 15k for teaching.....

    (Hope that makes sense)

    He CAN claim the extra back at the end of the financial year as it shouldnt have been paid anyway.

    My smp is aprox 580 a month and so if I get that per month for 13 months its well under 15k and so for the paychecks that I get smp then I dont pay it.....whereas as soon as I get my regular minthly salary ill be back paying what I should x
     
  5. mummywanabe

    mummywanabe Well-Known Member

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    As tigger and squeakz said you need to get over 15k per year while on maternity, I phoned them last week to check
     
  6. Squeakz

    Squeakz Well-Known Member

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    Based upon a monthly salary.
     
  7. Vickimo

    Vickimo Well-Known Member

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    It depends when you got it too. Mine isn't deducted from my salary but is paid by DD each month. I already have the form to defer it once I move to mat pay and they've said I can reclaim back my last 3 months payments x
     
  8. Squeakz

    Squeakz Well-Known Member

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    When did u get yours vickimo?!
     
  9. Vickimo

    Vickimo Well-Known Member

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    Hmmm, about 15 years ago...God I feel old now. My threshold is a lot higher too so I only started paying it back this April...think it's over 26k a year or thereabouts. Going back part-time so prob won't end up paying anymore unless I go full-time again x
     
  10. Squeakz

    Squeakz Well-Known Member

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    Ahhh k....!! I always assumed it would convert to thw "new" most modern way iyswim......x
     
  11. Louloubelle84

    Louloubelle84 Well-Known Member

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    Thank you all very much for your responses. Mine is deducted from my salary each month so I assume the payments will stop once my maternity pays starts. Just wanted to make sure I didnt actually have to make a phone call and let someone know.

    Thanks Ladies xx
     

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