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Student Loans: Frequently Asked Questions

These answers relate to undergraduate tuition fee and maintenance loans provided by the UK government, if you started your course on or after 1 September 2012. Find out more and apply on the government website.

How will taking out a student loan affect my credit rating?

Student loan debt has no impact on your credit rating.

Will I be charged interest on my loans?

Yes. If you started your course on or after 1 September 2012, interest on your loan is inflation plus 3%. There's more information on the government website.

Do I have to pay my Tuition Fee Loan and my Maintenance Loan back separately?

No, your loan repayments for fees and living costs are rolled into one.

When do I have to start paying my loans back?

You start paying back your loans once you’ve left university and are earning over £21,000. See the government website for more information.

What if I’m not earning over £21,000?

If your income falls below £21,000, your repayments will be suspended.

Will my loan payments be taken from my bank account?

No, your payments will be deducted straight from your salary through the tax system. Find out more on the government website.

How is my monthly repayment rate calculated?

Your monthly payment rate will be based on how much you earn, not how much you borrowed. You will pay back 9% of your income over the minimum amount of £21,000. Find out more on the government website.

See the table below for example salaries and repayment amounts: 

SalaryMonthly repayment
£21,000 and under £0
£25,000 £30
£30,000 £67
£50,000 £217