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Trying to repay your education loan if you are self-employed

Trying to repay your education loan if you are self-employed

If you are self-employed, repaying your education loan calls for a little more DIY than it will when you are compensated via business payroll. From understanding your education loan want to submitting repayments through Self Assessment, here is what you must know.

Getting started with your education loan plan

Once you remove education loan, you’re immediately enrolled into an idea. The plan you’re on will determine when you’ve got to cover your loan back together with various thresholds you’ll be charged against.

Your plan is based on:

  • Once you took the mortgage out
  • Great britain country you had been located in
  • Whether you learned an undergraduate or postgraduate degree

You studied in the UK, you’re likely to have been assigned one of the following student loan plans if you’re a UK resident and: