repaying my student loan when earning less than threshold
I am returning to study soon, so I will stop working by September. Money is automatically being taken out of my payslip to pay off my old student loan
However I won't earn enough to use up my personal tax allowance by September, let alone reach the 21k yearly income for student loan threshold repayment.
When I stop working to continue studying in September, will I be due a refund on the loan payments as I won't reach the 21k threshold by the end of the tax year for repayment to begin with? Or is it like national insurance, which is not calculated yearly?
However I won't earn enough to use up my personal tax allowance by September, let alone reach the 21k yearly income for student loan threshold repayment.
When I stop working to continue studying in September, will I be due a refund on the loan payments as I won't reach the 21k threshold by the end of the tax year for repayment to begin with? Or is it like national insurance, which is not calculated yearly?
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