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The young ones

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21 February 2012
Issue: 4342 / Categories: Forum & Feedback
Student loans are repayable once education has ceased and earnings are being received above a certain level, but what is the situation if the ex-student is self-employed, living on investment income, or has subsequently become non-resident?

I wonder if readers could provide some general advice on student loans. My particular immediate question is from what forms of income are student loans deductible?

I am aware that deductions must be made under the pay as you earn system but what happens if the ex-student is now self-employed or has employment and self-employment?

Perhaps less commonly what is the situation where the student lives off their inherited investment income; say income from property interest or dividends?

Also what happens regarding payments if the student works abroad and has become non-UK resident?

I look forward to clarification on this subject.

Query 17 947 – Neil

Reply from HM Revenue and Customs

There are different types of student finance but HMRC are only involved in collecting repayments for income contingent repayment (ICR) student loans advanced since 1998.

Repayments on ICR loans are collected...

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