Repaying a Student Loan

If you have student loans you will have to start repaying them from 6 April after you finish or leave your course but only if you are earning £15,000 or more. On notification by the Student Loans Company, HM Revenue & Customs will instruct your employer to deduct 9% of your gross salary above £15,000 as repayments, although you can make overpayments.



Interest is charged at the rate of inflation only, with no profit being made. Interest on payments accrues from the day they are made to you and continues until the loan is fully repaid. Anything not repaid after 25 years will be written off.

Going to university may leave you in debt but it is an investment in your future and a great experience for most.