Turn on thread page Beta

Paying back my student loan - but how? watch

Announcements
    • Thread Starter
    Offline

    9
    ReputationRep:
    Well to be fair I haven't actually started university yet, but I don't intend to be in a job for very long from when I come out of university, as I want to set up my own business and go into a partnership.
    How can does student finance work in these scenarios?
    Offline

    0
    ReputationRep:
    They take a proportion of your wage automatically that's highlighted on your P60
    Offline

    0
    ReputationRep:
    Your loan accrues interest from the day you receive it.
    You start to make payments once you earn over £15K a year, of course you won't start paying off the loan until you earn quite a bit more. As self employed it will be your responsibility to inform HMRC.
    • Thread Starter
    Offline

    9
    ReputationRep:
    (Original post by DukeNewcomb)
    They take a proportion of your wage automatically that's highlighted on your P60
    In a sense I won't have a wage.
    I can just constantly reinvest the profits so I am always earning below £15k essentially, hence never pay back the student loan??
    Offline

    0
    ReputationRep:
    I hope HMRC are reading this and plugging the loophole now.
    Offline

    6
    ReputationRep:
    nice loophole my friend, i like it
    Offline

    6
    ReputationRep:
    yeah just declare a wage under £15 000, its not even illegal what you would be doing even if it intentionally to get out of paying it back still **** THEM is what i say, ******** government *****, all deserve to die
    Offline

    0
    ReputationRep:
    another plonker who doesn't realise that govt has no money, tax payers do!
    • Thread Starter
    Offline

    9
    ReputationRep:
    There must be something in place surely !!
 
 
 
Poll
Cats or dogs?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.