⚠️ Our Tax Guide for Students guidance has moved to the LITRG website. If you are a student or have a student loan and have a query about any of the issues we cover in the section, please let us know by filling in the Contact Us form.

Annotated starter checklist

Updated on 17 May 2021

Students

We provide an annotated copy of page 2 of the Starter Checklist to help you understand the student loan questions

HMRC Starter Checklist page 2 by LITRG

D

You only start repaying your student loan from the April after you completed the course that your loan relates to. So, if you graduated in Summer 2020 you will start repaying your loan from 6 April 2021 (if you earn above the repayment threshold).

If you finished your graduate course after 6 April 2021 then you will not be required to make repayments on your graduate loan until the following tax year (2022/23).

⚠️ Please note: this will only relate to your most recent graduate loan and if you have another student loan then you will begin repayments for the other loan as soon as you begin work and earn above the relevant repayment threshold.

E

You only start repaying your student loan from the April after you completed the course that your loan relates to. So, if you graduated in Summer 2020 you will start repaying your loan from 6 April 2021 (if you earn above the repayment threshold).

If you finished your course after 6 April 2021 then you will not be required to make repayments on your loan until the following tax year (2022/23).

⚠️ Please note: this will only relate to your most recent student loan and if you have another loan for a course that ended before 6 April 2021 then you will begin repayments for the other student loan as soon as you begin work and earn above the relevant repayment threshold.

F

If you are coming to the end of paying your only remaining student loan and have agreed to pay the Student Loans Company directly through monthly direct debits then answer ‘Yes’ here. There is information explaining how student loans are calculated and repaid through the Pay As You Earn system on our website: Plan 1 loans, Plan 2 loans, Postgraduate loans and Plan 4 loans.

If you are making only additional voluntary payments to the Student Loans Company (SLC), then you should answer ‘No’ here. Your student loan repayments will be calculated in addition to any voluntary payments (this is different to opting to pay the Student Loans Company directly when coming to the end of repaying your loan).

G

It is very important that you state the correct loan type, otherwise incorrect loan repayments will be deducted as the different plans have different repayment thresholds.

If you are unsure what type of student loan you have then you should contact the SLC.

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