When you start repaying
You’ll only repay your student loan when your income is over the threshold amount for your repayment plan. The threshold amounts change on 6 April every year.
The earliest you’ll start repaying is either:
- the April after you leave your course
- the April 4 years after the course started if your course is longer than 4 years, for example if you’re studying part-time or doing a Postgraduate Doctoral course
Your repayments automatically stop if either:
- you stop working
- your income goes below the threshold
If you have a Plan 1 student loan
You’ll only repay when your income is over £388 a week, £1,682 a month or £20,195 a year (before tax and other deductions).
If you have a Plan 2 student loan
You’ll only repay when your income is over £524 a week, £2,274 a month or £27,295 a year (before tax and other deductions).
If you have a Plan 4 student loan
You’ll only repay when your income is over £487 a week, £2,114 a month or £25,375 a year (before tax and other deductions).
If you’re on a Postgraduate Loan repayment plan
If you took out a Master’s Loan or a Doctoral Loan, you’ll only repay when your income is over £403 a week, £1,750 a month or £21,000 a year (before tax and other deductions).
Early repayments
There’s no penalty for paying some or all of your loan off early.
