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    Hello everyone.

    I have just decided to transfer to a university here in London from Denmark.
    Its a direct entry into second year and I will have to pay tuition fee for the next 1, 1/2 years.

    I wanted to apply for the student funding but I got a bit sceptic when reading about the interest rate. I think I need some clarification especially on that.

    So
    1. How long is the interest charged/how long das it keep on "growing" ?
    Does it stop with the end of the studies, with the start of me repaying or only when I have paid it all up ?
    Example: Say I would start paying of the interest first and then the actual loan, but I d not earn enough the next years. Would the interest keep on growing and so I d have to start from scratch again ?

    2. Is that 21.000£ minimum income, where I start repaying, Brutto or Netto ? So before or after taxes etc has been taken of ?

    3. How will I have to inform the government of my income ?
    How often ? and what are the rules of notification and repayment in general when I am outside of Great Britain?
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    (Original post by Waithera1604)
    Hello everyone.

    I have just decided to transfer to a university here in London from Denmark.
    Its a direct entry into second year and I will have to pay tuition fee for the next 1, 1/2 years.

    I wanted to apply for the student funding but I got a bit sceptic when reading about the interest rate. I think I need some clarification especially on that.

    So
    1. How long is the interest charged/how long das it keep on "growing" ?
    Does it stop with the end of the studies, with the start of me repaying or only when I have paid it all up ?
    Example: Say I would start paying of the interest first and then the actual loan, but I d not earn enough the next years. Would the interest keep on growing and so I d have to start from scratch again ?

    2. Is that 21.000£ minimum income, where I start repaying, Brutto or Netto ? So before or after taxes etc has been taken of ?

    3. How will I have to inform the government of my income ?
    How often ? and what are the rules of notification and repayment in general when I am outside of Great Britain?
    http://www.moneysavingexpert.com/stu...t-student-loan is a good explanation of the costs/benefits of paying fees in cash instead of taking out the tuition fee loan (although it's aimed at English students who're eligible for a living cost loan as well as a tuition loan - if you're an EU student then you'll only be able to get a tuition fee loan).
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    HI Waithera.

    Interest is charged from the day the first installment is paid until the loan is repaid.

    You would have to earn above £21000.00 to make repayments towards your student loan. you will pay 9% of anything you earn over the repayment threshold. This is taken directly from your salary and paid to HMRC who pass it on to SLC.

    More information can be found on www.studentloanrepayment.co.uk

    Thanks
    • Thread Starter
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    Great thank you for the answer.

    How about the informing and paying from other contries? And is the 21000 income before or after the taxes have been taken off ? Which makes abig difference in for example Germany where I am from.
    Regards
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    Hi
    Please see your other post
 
 
 
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