Student loans

graca2

Hi,
I have a student loan taken out between 2003-2006 which I have been regularly paying back until I became a student again last year. I am about to start a job on a zero hours contract. It is a full time job so I will be earning over the threshold for paying back my student loan, however I am not sure if the student loans company will make me pay as there is no guarantee of my income. My wages will be paid on an hourly basis.

I can't find anything about this conundrum on google :eek:

Thanks

Tixy

Your earnings will be considered each pay period. That is each time you receive a payslip/get paid.

If you are paid weekly and earn over the threshold (£314) then you will repay 9% of anything over that amount. If you earn less than that then nothing would be deducted.

If you are paid monthly the figure is £1363.

graca2

Great thanks, so basically your saying it doesn't matter what contract I'm on it all comes down to my monthly earnings. That's good to know as now I can plan my finances.