Student Loan Repayments

You may be leaving Christ Church with a debt that can seem daunting. The facts are not as scary as they first appear.

You only have to pay back your tuition fees and maintenance loans. You do not have to pay back any other student finance such as maintenance grants or bursaries.

For student finance taken out after September 2016, there is no longer a maintenance grant. You get the same amount of money, or perhaps more, but it all comes as a maintenance loan which you will have to pay back.

What you pay and when depends on when you took out your loan. There are currently two plans in operation, each with their own levels of repayment and interest rates. You should know the plan that you are on from your student finance statements.

Plan 1 is generally for students who started before 1 September 2012, while Plan 2 is for English and Welsh students who started after 1 September 2012.

For more details visit the government webpages at

How to pay

Your payments will be taken out of your income, much like your income tax and National Insurance and will be detailed on your payslip. There is no penalty for paying all or some of your loan off early.

If you are self-employed, HMRC will work out how much you repay from your tax return.

If you work abroad, your employer goes into liquidation, or for more repayment information, go to the Student Loans Company website.

Keep your payslips and P60s in case you need to ask for a refund. You can get a refund if payments were taken but you earned below the threshold, or if you think you have already repaid in full. If you think you are coming close to the end of your payments then check your latest P60 and your student loan account; you may be able to switch your payment to Direct Debit so you can control your final payments.

Source: Student Finance England


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Last edited: 01/07/2019 14:43:00