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Student Loan Repayments - is there any difference between method of payment?
cooldudecol
Posts: 784 Forumite
in Loans
Unfortunately, it's that time when I now earn enough to pay back my student loan.
I know I can pay it off my direct debit or ask my employer to make deductions.
I was wondering if there is any difference in choosing which method of payment?
For example, if you choose employer deductions, is this before tax? And is it different amounts?
I've got a an old style loan if that matters.
I know I can pay it off my direct debit or ask my employer to make deductions.
I was wondering if there is any difference in choosing which method of payment?
For example, if you choose employer deductions, is this before tax? And is it different amounts?
I've got a an old style loan if that matters.
0
Comments
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I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
There is no tax benefit to asking your employer to make deductions. I guess for some people it is just psychologically easier to not have the money hit their account and be taken by DD.
I make payments by DD myself.0
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