The implications of tax when you're a student are as follows:

• Students can can earn up to £4,895 before your income is taxed.
• Any earnings above this amount are then taxed at 10% up to £6,985; 22% between £6,766 to £37,295; and at 40% on earnings over £37,296.
• Student loans are not taxable. Neither are: contributions from your parents, scholarships benefits, gifts and loans from relatives, income from Individual Savings Accounts (ISAs) and prizes won by students for academic achievement.