UK players with student loans

[Maddie84]

Question for any UK full time players who have outstanding student loans. When applying for stuff like car insurance I put myself as unemployed.

How are you paying them back as we all know if you play for a living you never have a 'set income' per month so how is this being calculated. I just got a letter basically asking what I'm doing; employed/self-employed/unemployed/further study(lol)/other.

Anyone else in the same boat or been in the same boat that can say what they did. Any help would be appreciated.

P.S. Didn't know where to post this so if mods think this is in the wrong place please move/delete or whatever.

Thanks

[auc hincloss]

unless you make over a certain amount a year, (beleive its 15k?) you dont need to pay the loan back. if you class yourself as unemployed, which to all intents and purposes, you are, you should not need to pay this back, as poker winnings in the uk are not taxed.

i may be wrong however, so if someone else know anything else please state.

also, perhaps in MTTc? ?

[PokahPokah]

i was hoping this was going to be an "i blew my student loan money playing 5/10 in aspers" [img]/images/graemlins/frown.gif[/img] sadly it wasnt

[Maddie84]

[ QUOTE ]
unless you make over a certain amount a year, (beleive its 15k?) you dont need to pay the loan back. if you class yourself as unemployed, which to all intents and purposes, you are, you should not need to pay this back, as poker winnings in the uk are not taxed.

i may be wrong however, so if someone else know anything else please state.

also, perhaps in MTTc? ?

[/ QUOTE ]

yes that's what I understood too about making a certain amount but then i'm obviously not taxed either so surely that means no job but it says if you tick the unemployed box you 'must provide evidence of how you support yourself financially'.

just seems like a grey area it's ~£6k but obviously will rise and rise with the interest rates.

[KRPI2k05]

I have the same issue. At the moment I believe you can just say that you are unemployed, and say that your parents are able to support you financially. This worked for me.

I guess you don't have to pay the loan back ever as long as you're playing poker, but that is unlikely and of course the amount you owe is continually growing due to interest. I owe £18k from my four years at uni.

Also, I received a letter giving me the option to make up my National Insurance contributions. It was only something like 200 quid, and it means that this financial year will still contribute towards me being eligible for a state pension. Don't know if you've had that?

[Maddie84]

yes I had the same thing about the state pension but i decided against it especially as i can save for those times and possibly still be playing!!!

[JammyDodga]

Phone them and ask them?

[auc hincloss]

I have a friend who works in SLC, and shall be speaking to him over the weekend, will find out exactly what you can do. will post/pm someone here when i find out.

[Maddie84]

ok great thanks

[SinkRox]

I dont think you have to pay anyting back till your in employment and earning >£16k

Also isnt the interest rate approx level with inflation anyway?... so no big deal about it sitting there unpaid?