Repaying your Student Loans
Once you have left university you have to begin to repay any Student Loans you have taken out to cover tuition fees and living costs.
Full time undergraduates - You will be contacted by the Student Loans Company (SLC) in the April after graduation and from that point you may begin to make repayments direct from your salary.
Part time undergraduates - You will be contacted by the SLC in the April after graduation or the April after the fourth anniversary of your start date, which ever is the earliest. From that point you may begin to make repayments direct from your salary.
For more information go to www.gov.uk/repaying-your-student-loan/how-you-repay
The monthly amount you repay depends on your income. The table below gives you an idea of how this works. Repayments are 9% of your income above the relevant threshold.
If you are going to be living and/or working overseas you still need to keep in touch with the SLC and make any repayments due to your loans - see below for more information.
2012 entry (and post 2012 entry)
If you start your course in (or after) September 2012 you do not pay any monthly repayments until, from April 2019, your income is above £25,725 per year
Student loan repayments for 2012 entry - from April 2019
| Annual salary||Monthly repayments|
The interest rate is the Retail Price Index (RPI) plus 3% during your period of study. Once you have left University the interest rate applied relates to your income level. From April 2019: Up to an annual salary of £25,725 the rate is the RPI, rising to a maximum of RPI plus 3% if your salary is £46,305 or above.
Repayments continue until the loans are repaid, or for a maximum of 30 years. After 30 years any further repayments are cancelled.
The Government has confirmed that there will be no penalty for early repayment of the loans.
Repaying from overseas
If you move to live and/or work abroad for more than 3 months, you must contact the Student Loans Company (SLC) Repayments team to arrange how you will make repayments to your loan. Go to www.studentloanrepayment.co.uk/ for more information and contact details.
PLEASE NOTE: If you do not keep in contact with the SLC while you are living and/or working abroad you may be charged penalty payments and a higher rate of interest may be applied to your loan.