Student loan repayment (Plan 1 Scotland)

Asda1

Hi

I graduated in July 2016 and had a year out as I had a baby. I started working 2nd August 2017. My first pay slip has my student loan coming off but I thought this would not be taken off until April 2018. I earn over the threshold. I take it that if you start after the April post graduation you automatically pay if you earn more than the threshold -even if it's your very first pay? In my head, I thought I had to earn the threshold figure first (like when you dont get taxed on the first 11000). Can anyone help with this? Thank you.

Ed-1

Asda1 wrote: »

Hi

I graduated in July 2016 and had a year out as I had a baby. I started working 2nd August 2017. My first pay slip has my student loan coming off but I thought this would not be taken off until April 2018. I earn over the threshold. I take it that if you start after the April post graduation you automatically pay if you earn more than the threshold -even if it's your very first pay? In my head, I thought I had to earn the threshold figure first (like when you dont get taxed on the first 11000). Can anyone help with this? Thank you.

The loan for a course enters repayment on 6th April after you leave the course. Anything you earn over the threshold from that point until you've paid off the loan or it's been written off is deducted from your pay at 9% over the pay period threshold (£17,775/12 if you're paid monthly).

anto164

Check the information here --> http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678408&_dad=portal&_schema=PORTAL

The bit which is stated by Ed-1, is for the type 1, however it sounds like you should have a type 2 loan (going off graduation date) so the rules are different.

However, student loan payments should come off automatically from your salary through your employer if you're paid over the threshold.