Student Loan/Bursary Interest Free? Watch

Clefeen
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Report Thread starter 10 years ago
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Just wondering when I receive loan and bursary payments, do I need to inform the bank that I am paying tax even if I'm not working?
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Titch89
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You don't pay bak the busary. You don't pay any interest on the loan; you may pay extra, but that's to do with inflation.
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snu
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(Original post by Clefeen)
Just wondering when I receive loan and bursary payments, do I need to inform the bank that I am paying tax even if I'm not working?
You do not pay tax on your student loan/bursary, it does not count towards your earned income for the year.

You pay interest on your student loan at a rate linked to RPI (a measure of inflation).
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Clefeen
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(Original post by snu)
You do not pay tax on your student loan/bursary, it does not count towards your earned income for the year.

You pay interest on your student loan at a rate linked to RPI (a measure of inflation).
Thanks a lot guys!
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