When will students have to start repaying their loan?
From April 2021 the earnings threshold will increase and full-time students start to repay their tuition and maintenance loan in the April after leaving higher education but only when and if they are earning at least £27,295
How much will students be repaying each month?
Repayments will be 9% of income above threshold, so the amount repaid each month will depend on earnings. Please see GOV.UK website for more information.
How will interest affect the loan?
For information on the loan interest, please see the Student Loans Company website on how they calculate interest.
How long will students be making repayments for?
All outstanding repayments will be written off after 30 years.
How will students make the repayments?
This will depend on whether you're employed, self-employed or working abroad. Please see GOV.UK website for more information.
What if they earn less than the threshold?
If for any reason the graduate's income falls below the threshold, their repayments will be suspended.