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student loan payment on savings interest
pinkshoes
Posts: 20,673 Forumite
If you receive income from sources other than employment
If you have any “unearned income” from sources outside your employment – for example, from savings or investments – remember that this counts towards your total earnings. You’ll need to make extra student loan repayments through Self Assessment.
So basically if you have any savings, you need to fill in a self assessment form for the students loan company, as you're supposed to pay them 9% of the interest you get on your savings!
Ohps. I wasn't aware of that! Not that I have vast quantites of savings, but I guess I owe them an extra £80!
Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
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Comments
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where does the quote come from?0
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It was on the government web page:
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingFrom1998/DG_10034867Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
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Oldernotwiser wrote: ȣ16,000 (ish ) savings? Well done!
I wish!
I graduated 4 years ago, so it would be £80 over 4 years...
I did manage to save £14k though, but alot of that went towards my house deposit!Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
thank you pinkshoes .... you must be one of a very small select group that have noticed that.....I can't see many ex students rushing to declare their few bob though0 -
Just a reminder that in reality there is no push on you to make these extra payment by self-assessment. You are better off keeping your money. Infact paying back some of your interest will go against the plans of the many who are taught to 'stooze' student loans on this forum.They say you can't put a value on life... but I live it at half price!0
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Broke_Student wrote: »Just a reminder that in reality there is no push on you to make these extra payment by self-assessment. You are better off keeping your money. Infact paying back some of your interest will go against the plans of the many who are taught to 'stooze' student loans on this forum.
But it's not actually an extra payment. It's written as what you SHOULD be paying!!!thank you pinkshoes .... you must be one of a very small select group that have noticed that.....I can't see many ex students rushing to declare their few bob though.
it took me 4 years to notice, but no, I don't think I'll be rushing to declare it either. If i'd know, i'd ahve spent it!Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0
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