Undergraduate study - 2021 entry


How you will repay your student loan for living costs.

Photo of student getting advice from staff

You only start repaying your student loans after you leave your degree programme and are earning more than £18,330 a year.

Key points

  • you start to pay back your loan when you have graduated and are earning more than £18,330 annually
  • the amount will be automatically taken out of your salary
  • student loans do not go on credit files
  • repayments are made over the course of 35 years
  • after 35 years, if you haven’t finished paying the loan, it is wiped off
  • you do not have to pay back bursaries or government grants

How loan repayments work

  • repayments on your student loan will start in the April following your graduation, provided you are earning more than £18,330
  • if your income falls below £18,330, your repayments stop - for example if you take a career break or are unemployed - until you start earning £18,330 again
  • all your student loans are added together and your employer will automatically take repayments from your salary, at the same time as they take tax and National Insurance contributions
  • if you are self employed, HM Revenue & Customs will collect your repayments through the self-assessment system, along with your tax
  • any outstanding balance is written off after 35 years.

Further details on repayment rates and how to repay student loans can be found on the Student Loans Company (SLC) website.