Student loan and postgraduate loan repayments

Produced by a Tolley Personal Tax expert

Personal Tax

Guidance

Introduction

The student loan and postgraduate loan regime is complicated, with the interest charged and repayment threshold depending on the date on which the course started and whether the student studied with a Scottish university or a university in the rest of the UK.

It is possible for the student to have loans for different courses that fall into different loan categories. Where this is the case, the legislation determines against which loan the statutory repayments are allocated, and these rules must be applied even if it means a loan with a lower interest rate is repaid rather than a loan with a higher interest rate.

Student loans

For individuals who took out student loans in relation to University courses in England, Scotland, Wales and Northern Ireland starting on or after August 1998, the repayments of the loan are collected via the payroll or tax return based on a percentage of total income. The repayments collected by HMRC are then paid to the Student Loans Company. Note that although the original loan application may have

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