Do you have to start making repayments once you earn £15k after tax or do you have to start making repayments if you earn 15k BEFORE tax?
Thanks.
2006-11-16 21:10:14 · 8 answers · asked by bobby t 3 in News & Events ➔ Current Events
In England, sorry.
2006-11-16 21:11:55 · update #1
My loan repayment (which is slightly different as I am so OLD and was taken out about 10 years ago!) is based on gross. Everything I have had to submit to government is gross. So I imagine you'll be the same.
A ridiculous system! Surely it should be based on what you earn after tax!!
2006-11-16 21:28:38 · answer #1 · answered by xaulleo 2 · 0⤊ 0⤋
I graduated in 2005 & it's once you earn £16k before tax. But you don't start paying it back until you earn £16,000 or over from the April of that tax year. So i graduated in July 2005, i got a job paying more than £16k in October but didn't have to start paying back my loan until April 2006.
2006-11-17 00:52:27 · answer #2 · answered by Jellytot 2 · 0⤊ 0⤋
The SLC are a law unto themselves to tell the truth! Just make sure when you get a job you let your employers know that you have a student loan and they will sort it all out for you. The SLC haven't bothered to send any statements through for the last two years either, their service is appalling!
2006-11-16 21:23:26 · answer #3 · answered by ehc11 5 · 0⤊ 0⤋
I think it is £15k gross salary (all job advertisements show gross salary) which is before tax.
It kind of sucks, but I'm on the old system. I have to start repaying when I earn over £10k. :(
2006-11-16 21:20:37 · answer #4 · answered by ? 6 · 0⤊ 0⤋
15k before taxes
2006-11-17 13:33:22 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Before tax I am afraid - you are always judged on your gross earnings
2006-11-16 21:38:49 · answer #6 · answered by StephE 3 · 0⤊ 0⤋
Usually, it's gross income, ie., before tax: unless in a specific case, it says after tax (unlikely!).
2006-11-16 22:55:18 · answer #7 · answered by swanjarvi 7 · 0⤊ 0⤋