Job Discussion Forums

dismus · Joined: 08 Aug 2009 Posts: 16

I have a student loan from the UK. When I was in the Kingdom 2 years ago I was earning about the same as I am now and not paying any money back. I'm fairly sure the threshold was the same as the UK - 15000, now it is 9000. Am I correct in assuming it was 15000?
Cheers for confirmation either way.
Thanks.

Cleopatra · Posted: Wed Dec 15, 2010 6:14 pm Post subject:

Am I the only one who has no idea what the OP is asking?

dismus · Joined: 08 Aug 2009 Posts: 16

Cleopatra. Thanks for that. Sorry you weren't able to help.

Linguist · Joined: 22 Feb 2006 Posts: 202

Dismuss, I also don't understand what you are asking about. Perhaps, giving some more information about the figures you mentioned will help us respond to your question.

Ex: What do 15000 and 9000 refer to? Which currency?

dismus · Joined: 08 Aug 2009 Posts: 16

Hi Linguist,

Thanks for your reply. Your tone shows you're keen to help.
I have stated "UK loans" on my post.
Indeed, as I posted I was aware that many would not understand.
However, those who have had student loans from the Uk would do so. And it is to them that the post is addressed.
Those who have had the loans would be aware that the threshold was 15000 (pounds) and, hopefully, they would be aware that for Saudi, it is now 9000 (Pounds.)
Thanks anyway. Sometimes, I suppose, we feel a bit frustrated if we can't assist.

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

You've got me curious because I too haven't a clue what any of this means. Laughing

What do you mean by 'threshold?" Are you saying that you only have to make repayments on your loans if you earn 15,000 a year or more... and you want to confirm that about the past... and confirm that it is now reduced to 9000?

Wouldn't that question be better asked of the institution from which you got the loan? Or whoever writes these rules? (your government?) I would think that info like this would be available on some website somewhere... it would in the US.

VS

scot47 · Joined: 10 Jan 2003 Posts: 15343

Well I too am at a loss to what this poster is asking. I come from UKANIA as well, but am of a different generation. This poster seems to have that knack that many of his age-mates share - a total inability to express herself/himself in writing. It is because they don't get Latin any more.

9000 whats per which ? 15000 whats per which ?. Intergalactic credits per lunar month ?

You might stand a better chance of getting an answer to your question if you looked at one of the gov.uk websites.

Dedicated · Joined: 18 May 2007 Posts: 972 Location: UK

A student loan is what most UK students have taken out in or after 1998, to cover the fees of about �3.290 a year. It's called an " income contingent loan" as the rate at which you repay the loan will be based on how much you earn after getting a job.

No UK student has to pay their fees up front. The university is paid directly from the public purse and the students pay the loan back after graduation, and getting a job.

If you are employed in the UK, your repayments will be collected through the PAYE system (Pay As You Earn). You don't start paying back your loans until you reach the repayment threshold, which means that you will begin making repayment when gross earnings are more than �1,250 a month, or the annual threshold of �15,000. Repayments will be 9% of anything you earn over the threshold.

So if you earn �35,000 a year your monthly repayment would be about �150 which is about 5.1% of your income over �15,000.

However, I don't know about Saudi Arabia, or any overseas countries.
I've never heard of �9,000 being mentioned. You must complete an Overseas Income Assessment form and specify the currency on any earned income (proof is required, by pay slips etc). If you return to the UK for more than 3 months (eg. long summer holiday) your repayment status will revert to that of a UK taxpayer.

In the recent government shake-up, they have voted that the fees rise to a minimum of �6,000, up to �9,000, and the threshold for loan repayment should be raised to �21,000 a year..

I hope that helps....it is quite convoluted.

johnslat · Posted: Thu Dec 16, 2010 11:01 pm Post subject:

Dear Dedicated,

"'I've never heard of �9,000 being mentioned."

Well, you did mention it:

"In the recent government shake-up, they have voted that the fees rise to a minimum of �6,000, up to �9,000 . . .

Or is that just coincidental?

Regards,
John

Dedicated · Joined: 18 May 2007 Posts: 972 Location: UK

Hello Johnslat,

In his original post dismus said :