When you've got a student loan

You've got a job and a student loan - but when do you have start paying back the loan??

You start repaying your student loan when your annual income goes over the current repayment threshold. The minimum amount you have to pay is 10 cents for every dollar you earn over the threshold.

You'll still follow the basic procedures for a first job, but when you choose your tax code you'll see that there are special codes for people with student loans. This means that your employer knows when to start taking out student loan repayments, on top of the normal income tax.

If you want to work out how much your repayments will be, you can calculate it yourself on the Student loan repayment calculator.

How will this affect you?

Check out Real lives to see:

• Krystal's story - she's a first-year university student, and needs a tax code for her second part-time job.
• Andy's story - he's a university graduate with a full-time job and a student loan to pay off.