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    I have recieved notification that I will need to start paying my Student loans back this summer. I am still a full time student completing my BA honours and was informed that I should not be paying this back whilst still studying. Please can you advise
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    (Original post by Tracey Whittle)
    I have recieved notification that I will need to start paying my Student loans back this summer. I am still a full time student completing my BA honours and was informed that I should not be paying this back whilst still studying. Please can you advise

    Hi Tracey, repayments of your account are covered by the Income Contingent Scheme regulations and commence the April after your graduation or date you ceased to attend your course.

    If you have completed one course and moved onto another your first course will still go into repayment the April after it has been completed.

    If you are earning above the repayment threshold, repayments are calculated as 9% of your income above the threshold and not as a percentage of your total income.

    You can check which threshold applies to you on our website - www,studentloanrepayment.co.uk as this depends on your plan type (which can be found on any correspondence issued to you).

    We work with H.M. Revenue & Customs to collect repayments. They will be deducted at source by your employer and shown on your pay statements. If you are self-employed repayments will be collected through the tax self-assessment system.

    If you are not earning over the threshold for repayment no repayments will be due.

    Thanks
 
 
 
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