Redundancy and student loans
When you are made redundant
Student loan repayments should be deducted from any redundancy payment you receive.
It's your responsibility to make sure you repay the right amount of student loan. You may need to work with your employer to make sure they deduct the right amount.
| If you ... | then you need to ensure your employer deducts repayments from ... |
|---|---|
| are already repaying a student loan through your pay | any redundancy payment you receive. |
| get a redundancy payment that will take your income over the repayment threshold | the portion of the payment that is over the repayment threshold. |
Find out more
Student loan repayment thresholds
After you are made redundant
| If you ... | then you should ... |
|---|---|
| get another job | give your new employer the right tax code so you don't get behind in your repayments. |
| don't get another job | review your total income for the year up to now. If it's over the threshold you need to continue making payments to ensure you don't end up with a bill at the end of the year. |
Find out more
Student loan repayment thresholds
Do you have a tax bill you can't pay?
Find out your repayment options if you can't afford to pay a debt.
Contact us on 0800 227 778 to discuss your options.
Date published: 27 May 2009
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