Repaying your student loan
You will be liable to make student loan repayments when:
- it's at least the April following your completion or leaving of your course, and
- your income reaches a certain level
If you are unemployed, continuing in education, or your income is less than this
level then repayments will not be taken. If you are overseas, the income threshold varies. For
more information, contact the Student Loans Company.
If you are worried about any debts you have built up, please seek advice as soon as possible
from your local
Citizens Advice Bureau.
Please do not apply for consolidating loans and similar products without
seeking advice as you may make your situation worse.
Student bank accounts and overdrafts
Your bank will usually contact you during your final year to establish whether
you have any definite plans following graduation. If you aren't continuing your
studies then they are likely to offer to convert your account to a graduate account.
Once you have a graduate account, overdrafts may incur interest and charges - check
the terms and conditions carefully.
You don't have to stay with the same bank. Even if you are overdrawn you may get
a better deal elsewhere. If you are considering taking out a loan to pay off your
overdraft, seek independent advice and check terms and conditions carefully.
Our Employability and Careers Centre is a good first stop
for advice on careers. When you start work you will have to pay
income tax and National Insurance.
The amount you will pay depends on how much you earn. If you are employed these are deducted
from your wages automatically by your employer.
Paying council tax
Once you are no longer a full-time student you will lose your exemption from paying
council tax. You should notify the local council where you are living that you are no
longer a student. If you are finishing one course and starting another (for example,
if you are finishing an undergraduate degree in July and beginning a postgraduate course
in October) you will not be exempt from council tax between the two courses.
Advice Bureau can give advice on Council Tax.
Graduates with a disability
Disability Rights UK will give specific
help for graduates with disabilities. They provide information, guidance and advice on
careers and other areas.
Disabled postgraduate students can apply for
Disabled Students Allowance (DSA).