Scholarships and Student Funding

Repayment

Information on loan repayment.

Students from England and Wales

  • You will not start to make repayments until you earn over £21,000 a year.
  • If your income falls below £21,000, your repayments stop - for example if you take a career break or are unemployed - until you start earning £21,000 again.
  • All your student loans are added together and a single repayment will be deducted from your salary, normally through the tax system.
  • Any outstanding balance is written off after 30 years.

Further details on the repayment of student loans can be found on the SLC website.

Students from Northern Ireland and Scotland

  • You will not start to make repayments until you earn over £17,335 a year (this amount will increase in line with inflation each year).
  • You repay 9% of you income above £17,335. The amount you repay depends on how much you earn, for example.
  • Any outstanding loan balance is written off after 35 years.

Rates of Interest

  • Interest is applied to the loan annually at the rate of inflation (using the Retail Prices Index) which through time maintains, in real terms, the loan at the same value as at the time it was borrowed.

Further details on the repayment of student loans can be found on the SLC website.