Student loans

wendle_2

Hi,

I'm about to become a Higher ed student and am currently arranging a student loan. Its a 4 year course @ £3000 per year which amounts £12000 just for tution. I may aswell double this for living expenses so all told I will probably be emerging from Uni 4 years later with £30000 worth of debt.

I know repayments will be deducted from my salary at the prevailing rate and if it exceeds a certain threshold-no probs with that-but say I unexpectedly came into some money, for example I won some or maybe I inherited £50000 from a rich uncle would I be expected to donate a proportion of this to pay off the loan?

Regards

Wen

Emmzi

no,it's just from income, when it is over 15,000 per annum, 9%of amount over is deducted. Lump sum doesn't affect it but you can repay more if you CHOOSE.