The tax year runs from 6 April one year to 5 April the following year.You will normally start repaying your loan at the start of the tax year after you finish or leave your course but only if your annual income is above £15,000. Your annual income is the amount before tax you receive on your earnings. Any money you earn before the start date should not be taken into account when your employer or you work out your repayments.

As each pay day is looked at separately, your repayments may vary according to how much you have been paid in that week or month. If your income falls below the starting limit for that week/month, your employer should not make a deduction.

If you are working and you get more than £2,000 interest a year from your savings this may affect how much you have to repay. Have a look at some examples of how this works.

In addition you can make voluntary repayments of £5.00 or more direct to the Student Loans Company yourself, at any time, even if you do not earn above the threshold.

The Student Loans Company repayment site provides much more detailed information.