Repayment of Student Loans

Tuition fee loans and maintenance loans do not have to be repaid until you have finished your course. 

Undergraduate Loans

Undergraduate loans for courses starting after 1st August 2023 are repayable under student loan Plan 5 rules which has an earnings threshold of £25,000 per year. 9% of anything earned over the threshold is deducted from your salary. 

More information regarding the repayment of Student Loans is shown on the Student Finance England website at www.gov.uk/repaying-your-student-loan

Examples of salary and associated repayments are shown below.

Income each Year before Tax	Monthly Salary	Approximate Monthly Repayment
£25,000	£2,083	£0
£28,000	£2,333	£22
£29,500	£2,458	£33
£31,000	£2,583	£45
£33,000	£2,750	£60

Grants, bursaries and allowances are not repayable.  

Part-time course loans are repayable from the April four years after your course started or the April after you leave your course (whichever is the soonest) subject to the above income cap. 

Postgraduate Loans 

Loans for both Masters and Doctoral Postgraduate loans will be repaid concurrently with the undergraduate loan, at a rate of 6% on earnings over £21,000.

Interest will begin accruing as soon as the first payment is made to the student by the Student Loans Company. 
Postgraduate Masters loans begin to be repaid from the April after students graduate and Doctoral Loans either the first April after they leave the course or four years after it started, whichever is the soonest, when annual income is over £21,000.