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Student Loan Repayment question
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twinklyspecialkag
Posts: 124 Forumite
Ok so....you start repaying your student loan when you earn over £15,000 a year, is this before or after the tax has been taken off? so if i earn £15500, but bring home less than the £1500 after ive paid tax & NI will i have to start paying it back? and if I finish my course in june this year when will i have to start paying my loan back?
Many Thanks
Many Thanks
0
Comments
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I'm fairly sure it's before tax.0
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Just like NICs, Student Loan repayments are based on pre tax income, so if you're earning £15,500 pa you'll be paying back just under £4 a month. Your payments will start being deducted in April 2010 if you graduate this summer.0
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Thank you!!0
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