How should I calculate my gross income for the purposes of deferring my UK student loan payments?
437335
The clue is in "gross" income. You put down what your salary is before anybody does any jiggery pokery with it.
420163
This depends solely on the terms of your fellowship. I invested student loans while doing my undergraduate, made a7.5% return on them while paying for school on a 0% interest credit card each year. I paid off the loans at no interest (because I only took out the $8500 max each year from the feds) and made a pile in interest.
298885
Depends on the total amount of earnings. Tax is calculated on all of your earnings added together. There is a personal allowance of around £4700 which is untaxed. Then some at 10%, some at 22% and anything else at 40%. you would generally be a high earner to have much tax at 40%.
88107
Future Sum Formula could be:\n\nF = P (1 + i)^n  where:\n\nF = future sum\nP = present amount (borrowed)\ni = annual interest rate, in decimal\nn = no. of yrs. to be computed\n\nF = 25,000 ( 1 + 3.63% )^3\nF = 25,000 (1 + 0.0363)^3\nF = 25,000 (1.0363)^3\nF = 25,000 (1.0363)(1.0363)(1.0363)\nF = 27,822 after 3 yrs.\n\nLet M = monthly repayment\n\n36M = F = 27,822\n\nM = 27,822 / 36\n\nM = 772.83\n\nTherefore the monthly repayment amount, M, is around 770 Pound Sterling.\n\nThere is a slight variation in the answer perhaps because they (the bank) might have used a different formula or perhaps they used a rounded figure in some of the values. But generally, this is how future amounts are computed if interest is compounded annually. O.K.?
542092
Gross income is what you earned pre-tax either from your job, stock dividends, or bond interest.\n\nGross profit is what you get after you sell something (proceeds) minus the cost of the object.
771176
Income upto Rs.100000 was exempt from tax .Remaining 110000 we can deduct portion of educational loan repaid.For eg if u reapaid rs.50000 then u can deduct 50000 from rs.110000 if u didn't repaid any amount then u cannot claim.\nAfter deducting the portion of educational loan tax amount is calculated as\nFor first 50000@10%\nFor next 100000@20%\nFor remaining amount @30%
315501
Unquestionable, save the money for a down payment.\n\nHaving money down (at 95% or less) will usually represent in a lower mortgage interest rate.\n\nThere are other considerations, too.  Student loans I believe are at a 4-6% rate once past deferrment, and they are tax deductible.  You should be able to have an after market return on investments higher than this payment rate.\n\nMortgages are good, too.  At 6-7%, you'll be building equity in a house, that you should be able to sell off at a profit sometime in the future.  Not to mention, home equity loans are frequently the method that most people use to pay for little jr's college, someday.\n\nDon't pay any higher than the debt service on either of these obligations.  You'll typically do better financially being liquid and investing the money at a higher return elsewhere.
963593
The rate of interest will vary according to the type of account.\n\nIf you want instant access you will get a low rate. If you give notice (30/60/90 days) the rate will be higher. If you are able to tie the money up (1 year/2 year or more bonds) the rate will be even higher. This is due to the provider being able to to use the money to get higher returns if it knows it will be with them for longer. If you are a tax payer be sure to ask for the net rate (tax paid).\n\nRates can also vary by the amount invested i.e tiered so that a higher balance earns more than a low balance.\n\nIf you don't have an ISA, then these are usually higher rates than standard accounts and tax free. There are restrictions on the amount that can be invested though.\n\nAlliance and Leicester have just introduced a 12.0% regular saver account. This is the highest rate on the high street for regular savings between £10 and £250 per month.\n\nBeware though, if you pay in £50pm then you will earn interest on £50 in month one (1/12 X £50 X 12% = £0.50). The interest will get more as the months progress as it is calculated daily. You may be better off paying in the full £600 into an ISA.\n\nHope this helps.
302561
You are eligible for tax benifit upto Rs. 40,000/- for the interest that is paid not the principal, the clause is given below:\n\n80E. Deduction in respect of repayment of loan taken for higher education.\n\n(1) In computing the total income of an assessee, being an individual,there shall be deducted, in accordance with and subject to the provisions of this section, any amount paid by him in the previous year, out of his income chargeable to tax, by way of repayment of loan, taken by him from any financial institution or any approved charitable institution for the purpose of pursuing his higher education, or interest on such loan: Provided that the amount which may be so deducted shall not exceed forty thousand rupees.
310160
Gross profit equals gross income less expenses.  Another way of putting it would be Earnings before interest, tax and depreciation allowance or EBITDA.
1057195
As a Financial Adviser I can confirm there are various life assurance companies that offer what is called income protection.  In reality 90% of people working in the UK need some form of income protection as this helps safeguard against long term and short term disability.  i.e. being unable to perform the functions of your daily employment.  Realistically employers will only continue paying salary for a short period of time between 5 days and 6 months.  If you have a mortgage for example, and have no accident and illness cover the government will only assist with your mortgage payments after 36 weeks (9 Months).  They only then pay the interest owed and none of the capital.  Please feel free to email me if you require any further assistance
324322
If you haven't consolidated your loans already then do so before July 1 as interest rates will be going up.  Plan at least 6 weeks to make that happen.\n\nThere are a number of pay back options including ones that are weighted to be smaller early in the payback period with larger payments later.  You can also extend payments for 30 years or select a program that is income dependent.\n\nYou could consider working in a State underserved area or for the federal government or sometimes there are even private arrangements.  Try the 3R Network.  You could also consider the IHS or NHS.  I have heard some horror stories associated with both of those last two organizations, however.  I would be sure that you really wanted to practice some place before I accepted one of their assignments.  My sister found a place that reimbursed her for her loans in exchange for a five year committement, meanwhile she is earning nice bonuses with the practice she works for.  Good luck.
874766
Try this online calculator may help!!\n\n\nhttp://www.bfinancialtools.co.uk/working-family-tax-credit-calculator.php
914589
You can go to this website, put in your details and it will give you an estimation. Or you can call them and do it over the phone and they will tell you approximately how much you are entitled to. It may not be exactly what you get but it's usuall pretty close.\n\nhttp://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx
869569
The way student loans work (or at least federal ones) is that you have to apply for them, through the Financial Aid office at your school.  After you apply, you will find out what kind of Aid you are eligible for - subsidized loans, unsubsidized loans, grants and workstudy.  Grants and workstudy do not have to be paid back.  After you graduate, unless you defer repayment, you are given a 6 month grace period before you must start to repay your loans.  There are 3 different categories for repayment, they each are a different monthly payment.  It all depends on what you can afford.  The longer you drag out repayment, the more you end up paying because of interest.
378147
All tax details should be clearly printed on your pay slip.  But you can work this out yourself quite easily.  Everyone has a "Personal allowance" of £4,895 per year and is tax free.  The next £2,090 per year is taxed at 10%, then the next £30,310 at 22%.  Any annual earnings over £32,400 is taxed at 40%.  You also have National Insurance Contributions to deduct. You are allowed to deduct some items such as pension contributions etc. and other items may be added to your annual earnings such as benefits you may receive.  So your situation may be more complicated, but the above formula is a rough guide.  Most people pay basic rate tax at 22%.  If you find the above complicated, you should ask your payroll department at your work to explain it to you.  They work these things out all the time, and I am sure they would be pleased to help you, or otherwise ring your local tax office:  if you get a helpful person they may be willing to chat it through with you.
882559
If you are earning 120 pound a week you will pay tax the threshold for tax is currently £5030 a year based on weekly annual earnings, if you work that out you are over the tax threshold, age has nothing to do with it. make sure you have a tax code on your wage slip which should be 503L if it says BR 1 you will be paying too much and will need to fill out a P46 if you dont have a P45.