Student Moans
Deferring payment on a Student Loan is not as straightforward as it may seem: deferment is assessed only by examination of payslips issued over the previous 3 months.
If, for the sake of example, you find yourself unemployed and apply for deferment, the SLC Ltd will still consider you an earner as they will have examined payslips from the 3 months you were working before joblessness. You would have to have to make payments until your average income over the preceding 3 months falls below the deferment threshold.
Fortunately, this will not affect me as maximum gross income allowed before deferment is £1,897 a month: I have been punching above my weight in terms of the SLC's definition of my ability to repay.
Unfortunately, I was unaware of this while on the phone to the adviser. Despite turning red and becoming het up, manners and decorum were maintained, although I'm sure a tone approaching stressed exasperation affected the conversation. I'll have to try to keep that emotion in check when I encounter future bureaucratic hurdles.
If, for the sake of example, you find yourself unemployed and apply for deferment, the SLC Ltd will still consider you an earner as they will have examined payslips from the 3 months you were working before joblessness. You would have to have to make payments until your average income over the preceding 3 months falls below the deferment threshold.
Fortunately, this will not affect me as maximum gross income allowed before deferment is £1,897 a month: I have been punching above my weight in terms of the SLC's definition of my ability to repay.
Unfortunately, I was unaware of this while on the phone to the adviser. Despite turning red and becoming het up, manners and decorum were maintained, although I'm sure a tone approaching stressed exasperation affected the conversation. I'll have to try to keep that emotion in check when I encounter future bureaucratic hurdles.
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