What will your student loan repayments be based on?
Student Loans
Here's an overview of the student loan repayment process:
You won't make any repayments until your annual income is over £21000.
If you study a full-time course, you will be due to start repaying int he Arpil after graduating or leaving higher education.
You'll pay 9% of your income over £21000 and if you're employed deductions will be made from your pay through the HMRC (Her Majesty's Revenue and Customs) tax system.
If you move or work overseas you will repay 9% of your earnings over the payment threshold for the country you are living in.
If your income falls to £21000 or below your repayments will stop.
Any outstanding loan balance will be cancelled 30 years after entering repayment.
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Your future income.
How much do you need to earn before you start to repay?
£21000 a year.