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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 the right amount of student loan repayments. You may need to work with your employer to make sure they deduct the right amount.

If you're using a ... then your employer deducts repayments from ...
any redundancy payment you receive.
main job tax code and earning below the pay period repayment threshold the portion of the payment that is over the repayment threshold.

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.

If you have a tax bill you can't pay

Find out your repayment options if you can't afford to pay a debt.

Call us on 0800 227 778 to discuss your options.

 


Date published: 30 Apr 2012

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