Invest the down a education loan if you are at university you must repay it.

Invest the down a education loan if you are at university you must repay it.

It back depends on whether you work for someone else (employed) or work for yourself (self employed) how you pay.

If you are used

In the event that you took down your education loan on or after 1998, repayments will likely to be obtained from your wages. You will see the repayments in your wage slide.

You are going to begin paying it back once again whenever you earn much more than the usual amount that is certain of, referred to as a ‘salary limit’.

The income limit happens to be ВЈ18,330.

If for example the salary falls underneath the income threshold your repayments will undoubtedly be stopped. They shall only begin once more when you’re within the income limit.

Find away more about repaying if you are used in the learning student Loan Repayment web site.

If you should be self-employed

Your education loan repayments will likely to be done during your Self-Assessment taxation return.

When you are filling out your Self-Assessment taxation return tick the container saying you have got education loan.

January you’ll have to budget for student loan payments when you submit your Self Assessment tax return and pay HM Revenue and Customs (HMRC) at the end of.