STUDENT
LOANS
Repaying
the loan
Most
of the time, this happens automatically.
If
you get a job that pays over £15,000
each year, repayments are taken out of your wages at the same
time as your tax and National Insurance (either each month or
each week). The Student Loans Company will let you know about
this before it happens, and if you earn less than £15,000,
you won't pay anything.
Repayments
don't start until the beginning of the tax year (6 April) after
your course has ended. Your employer will take care of the paperwork,
and you will only pay 9% of any money you earn above
the £15,000 threshold.
