Loan Repayments

Loan Repayments

This information on loan repayments applies to students from England and other EU countries. Some information is different for students from Scotland, Wales and Northern Ireland.

Key loan repayment facts

  • Repayments are based on what you earn, not what you owe
  • Tuition fee and living cost loans repayments are combined
  • You will not start to make repayments until you earn over £25,725 a year
  • If your income falls below £25,725, your repayments stop until you start earning £25,725 again
  • All your student loans are added together and a single repayment will be deducted from your salary
  • Any outstanding balance is written off after 30 years

Rates of interest

While you are studying and up to the April after you leave university, interest on your loan will be applied at the rate of inflation (RPI) + 3%.

From the April after you leave your course, interest rates are based on the amount you earn:

Your circumstances

Interest rate

Whilst studying and until the April after leaving the course

RPI + 3% 

If you come into repayment from April 2019

Variable interest, dependent upon income 

RPI where income is £25,725 or less, rising on a sliding scale up to RPI + 3%, where income is £46,305 or more 

If you lose touch with SLC or do not send them the information they require

RPI + 3%, irrespective of income, until SLC have the information they require