student loans

[shades]

what happens if u don't find a job after graduation and are on the dole ..how can you pay back student loan?

[Headtime]

You don't have to pay it back until you earn over a certain threshold, which is I believe; �15,000. So whilst on the dole, you can defer repayments until you are earning above that amount. Not the same for Student Overdrafts though. In my experience, the bank wanted their money back pretty quickly. Hope this helps.

[clarabel82]

I left uni nearly 3 years ago and they only started taking out student loan payments from my wages last december when I started full time work. Be warned though U don't earn anywhere near �15,000! they only take out under �20 a month though, depends how mch you earn as to how much they take out I think.

[clarabel82]

sorry I meant "I" not "U"

[thecooler]

They keep changing the threshold - mine was �18,000, and as I still don't earn that much I still keep defering it. I believe they dropped it to �10,000, though. It depends on when you started your course - most students who are yet to graduate will be on the lower threshold.

[stevie21]

I thought that the threshold was 80% of the average wage & I thought the average wage was about �21000. As said, unless you earn over this threshold then you can continue to defer the payments for a year.

[banana]

I like this little estimator -dont know exactly how accurate it is though http://money.msn.co.uk/Student/BankingandFunding/LoansHome/T ools/Studentloanrepaymentestimator/default.asp#