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Key facts on interest for student loans

It's about what you earn, not what you owe

If you have taken out a Maintenance Loan or Tuition Fee Loan via the Student Loans Company, then the repayments will only begin once:

  • you have left university and are in employment 
  • you are earning £25,000 or more a year

Repayments are linked to your earnings and not the loan itself, so the amount you owe in total will have no effect on your repayments. Instead, the amount you repay per month is calculated on how much you’re earning above the threshold.

Loan repayments are calculated at 9% of the amount you’re earning over the threshold for the plan you are on.*

If you have taken out both a Maintenance Loan and Tuition Fee Loan, the two loans will be added together, and monthly repayments will be deducted from your salary on a sliding scale depending on your income.

*To find out what Repayment Plan you fall under and more information regarding repayments, see the GOV.UK page.

Students from Northern Ireland, Scotland and Wales

If you normally live in Northern Ireland, Scotland or Wales, your government finance will be dealt with by the authorities in your own region. See the below websites for more information.

Northern Ireland: Student Finance NI
Scotland: Student Awards Agency for Scotland
Wales: Student Finance Wales