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Paying back Student Loan

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
If you take a year out after receiving a student loan and start a job over the paying back threshold, do you start paying back your student loan, even if you are goingt o get another one the next year? I'm guessing it's yes, but hoping there are other ways... like not.

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I don't know, but for no particular reason I wouldn't have thought so.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    No you don't, Katralla.

    I took out a sandwich year that was over the old £12,000 threshold (year 2000-2001) and I wasn't subject to repayments.

    Only when you have finished your course and you're earning over £15,000 (the new threshold) you have to start paying it back. The rate is 9% of anything over £15k.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    yay! nice one! thanks for the definitive answer. finger crossed then, interview tomorrow...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Assuming you haven't actually left uni for your year out, and it is actually an official break.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I'm still registered there as a student, but might not go back...
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    fucking irrelevant now anyway. I sailed through the interview (if I do say so myself) and was offered the job but I can't fucking do it anyway. I asked them about taking half days to get my daughter to dance, instead of the alt sat off and they were really cool about it, but I'd have to be there too early, too early even for the breakfast club childcare (and none of the local childminders have spaces, still!)... So, I'm fucked, can't take it. Got a couple of other interviews coming up though, so fingers crossed... One good thing was that I sold two tickets to the vagina monologues event that my theatre group's putting on so, something good came out of it.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Is anyone else here taking Career Development loans and if so, can I ask how much have you loaned, how much are you going to be paying back monthly, and how many months is it going to take you to pay it all back? Mine is going to take 36 months paying back in monthly installments.

    Monthly repayment £86.17
    Number of repayments 36
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    You'd be best starting your own new thread about it.
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