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. Repayments are 9% of your income above the relevant threshold for undergraduate loans and 6% of income of postgraduate loans.
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.
The Government has confirmed that there will be no penalty for early repayment of the loans.
The threshold for loan repayment for students starting from September 2023 will change. A link will be posted to the Gov.UK web pages when more information is available.
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.