when do you have to start paying student loan back?

littlepinkstars44

I'm on my 3rd year of my student loan and SAAS payments.
With another year, maybe 2 (if i get into uni)

Although the first time i got it i dropped out of the course i was on

When do i need to start paying it back?

Oldernotwiser

How are you getting a loan if you're not in university yet?

littlepinkstars44

Oldernotwiser wrote: »

How are you getting a loan if you're not in university yet?

i'm at college

littlepinkstars44

anyone know?

Lokolo

Same as normal I think.

littlepinkstars44

Lokolo wrote: »

Same as normal I think.

what is normal?

The_One_Who

littlepinkstars44 wrote: »

I'm on my 3rd year of my student loan and SAAS payments.
With another year, maybe 2 (if i get into uni)

Although the first time i got it i dropped out of the course i was on

When do i need to start paying it back?

Have SAAS agreed to pay for your university tuition as well? They usually only pay for the four years of university (or five if your course is five).

You'll pay back the loan under the usual terms: 9% of what you earn over £15,000.

argood

As above, however just to clarify that you will enter Repayment status the April following graduation/withdrawal.

If everything goes to plan regarding matching up your National Insurance number with your employer and HMRC your deductions should commence as soon as you start earning over £15K.

littlepinkstars44

The_One_Who wrote: »

Have SAAS agreed to pay for your university tuition as well? They usually only pay for the four years of university (or five if your course is five).

You'll pay back the loan under the usual terms: 9% of what you earn over £15,000.

yeah SAAS pay the college and give my bursary (215 a month)
and i get my student loan from the student loan company (134 a month)

They only give you four years of money, really i thought it was 6.
Crap, do you think i'll be able to do honors then?

littlepinkstars44

argood wrote: »

As above, however just to clarify that you will enter Repayment status the April following graduation/withdrawal.

If everything goes to plan regarding matching up your National Insurance number with your employer and HMRC your deductions should commence as soon as you start earning over £15K.

oh right thanks, doubt i'll ever make that much money though lol

The_One_Who

So you'll be entering your third year of university after college? I'm pretty sure you'd need to pay for one year of your tuition unless you have mitigating circumstances as to why you dropped out.