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If you are earning in excess of £15,000 per annum, your loan will become due for repayment on the 6th April following the date that you complete or leave your course.
The Student Loans Company will advise HM Revenue and Customs that your loan has entered repayment. They in turn will instruct your employer to deduct repayments from your gross income at the rate of 9% of any income earned in excess of £15,000 a year, £1250 per month or £288 per week.
If you are self-employed or go to work abroad, you will make repayments directly to the Student Loans Company or HMRC.
For more information on repayment of student loans visit www.studentloanrepayment.co.uk.
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