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 £25,000* a year
  • If your income falls below £25,000*, your repayments stop until you start earning £25,000* 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

*subject to Parliamentary approval

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 plus 3%.

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

SalaryInterest rate
Under £21,000 Rate of inflation
£21,000 to £45,000 Rate of inflation plus up to 3%
Over £45,000 Rate of inflation plus 3%