What do you have to earn before paying back your student loan.?

Question

When I got my first one it was £15,000, but I've heard that this has been lowered as they were worried too many students would never pay it back. I paid back my original loan, but have a post grad one from last year, and am finallyabout to start a new permanant job- will I have to pay it back?

Answer 1

from april 2005 the threshold was 15000 per year. if you get paid monthly its 1250 and 288 if you get paid weekly. repayment is at the rate of 9% over the threshold.

loans are collectable the april after you finish or leave you course. so you'll start paying back this april after the 6th. the link belows tells you how much you'll pay

Answer 2

What you do is to stay to tell the tale under you're making which potential a similar way you lived once you have been in college and then each little thing extra pay it in the direction of the loans. i wish all that guidance will pay off in the close to destiny. do no longer use credit taking part in cards or purchase a clean automobiles. Ohh, additionally get the e book the whole money makeover, via dave ramsey....this is going to truly help you initiate your debt help existence.

Answer 3

Pretty sure its still, £15,000, mine is anyway. They change the rules all the time though, one friend of mine who got her degree 8 yrs ago or so has to earn £22,000 b4 she pays it back, how jammy! When they do change it i think it only applies to students who take out the loan AFTER the change, dont think they can backdate it as you didnt agree to it when you first took out the loan.

Answer 4

you need to be earning 15 grand and will pay back £15 a month

Answer 5

Usually £15000 a year b4 you pay it back dnt think it has changed