# You will start repaying your student loan from April 6 after you graduate, at a rate of 9 per cent of earnings above £15,000. On a salary of £20,000, you would repay £450 a year, or £37.50 a month.

# If your employer pays tax on your behalf through PAYE, your repayments should begin automatically. But delays can occur. If you start repayments later, your debt will last longer. If your repayments do not start on time, call the Student Loans Company on 0870 2406298.

# Interest on the loan is pegged to the retail price index. At the moment graduates pay 3.2 per cent, although this will drop to 2.4 per cent in September.

# You will receive statements once a year. If you want to find out how your repayments are progressing in between, the Student Loans Company can help you to work it out from your payslip information.

# You can make overpayments at any time, but you cannot stop repayments if you are earning more than £15,000. You can also request a refund of payments made if your earnings at the end of the year do not amount to £15,000.

This entry was posted on Sunday, July 23rd, 2006 at 10:01 pm and is filed under Education, Student Loan. Tags: Loans, Student, Student Loan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.