When does repayment begin?
You will normally have to begin student loan repayment on your earnings made in the tax year that begins after you graduate or leave your course.
For example, if you graduated in June 2008, you would be liable to pay student loan deductions on your earnings from April 2009. This means your first student loan repayment for tax year 2009-10 (along with your tax, National Insurance etc for tax year 2009-10) would be due by 31 January 2011.
How are repayments made?
HM Revenue and Customs (HMRC) will send you a self assessment tax return after the end of each tax year.
If you complete and return your self assessment form by 31 October after you’ve received it, HMRC will calculate how much you need to pay for tax, National Insurance, student loan repayments etc. Otherwise, you will have to do the calculations yourself.
You will need to send any payment due by 31 January following the relevant tax year.
HMRC will then pass the details of your student loan repayment amount to us and we will apply this to your account.
