Repayment

Students from England, Northern Ireland and Wales

• When you start repaying your loan and how much you pay depends on which repayment plan you’re on.
• You’ll only repay your student loan when your income is over the threshold amount for your repayment plan. The threshold amounts change on 6 April every year.

• Your repayments automatically stop if either stop working or your income goes below the threshold.

• 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 Scotland

• From April 2021 you will not start to make repayments until you earn over £25,375 each year before deductions (this amount will increase in line with inflation each year).
• You repay 9% of your income above £25,375. The amount you repay depends on how much you earn.
• Any outstanding loan balance is written off after 30 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.