How to repay

Your repayments will be taken out of your salary at the same time as tax and National Insurance if you’re an employee. Your payslips will show how much has been deducted. You may need to tell your employer which plan you’re on.

You start repaying when your income is more than the minimum amount.

There’s no penalty for paying some or all of your loan off early.

If you’re self-employed

HM Revenue and Customs (HMRC) will work out how much you pay from your tax return. You pay at the same time as you pay your tax.

If you’re an employee and you do a tax return

If you earn over the minimum amount, your employer will deduct loan repayments from your salary.

Check your payslips or P60 to see how much of your loan you’ve paid off during the tax year. You’ll need to include this information when you fill in your tax return.

The tax year runs from 6 April to 5 April the following year.

If you work abroad

The rules are the same if you work for a UK employer abroad. If you work for a foreign employer, your repayments are based on:

If you go abroad for more than 3 months, complete an overseas income assessment form to:

  • estimate your income for the next 12 months
  • provide your bank details so you can pay by Direct Debit

The Student Loans Company will work out whether you have to repay and how much.

You’ll have to complete the income assessment form every year you’re abroad.

The Student Loans Company has detailed information on repayments.

If your employer goes into liquidation

You’ll be asked to send your P60 or payslips to HMRC to show them what repayments you’ve made.

If you do not have your payslips or P60, you may need to contact the liquidator to get the information from the payroll records.

Checking your repayments

You can check your repayments and balance:

  • in your annual statements from the Student Loans Company
  • online if you’re registered
  1. Step 1 Check if you're eligible

  2. Step 2 Find out how much loan you could get

    Find out the maximum tuition fee and maintenance loan you could get if you're a:

    How much maintenance loan you get depends on where you'll study and your household income.

    1. Use the student finance calculator to estimate your maintenance loan

    You'll have to pay back any loan you get.

    1. Find out how much you'll repay
    2. Find out when you'll start repaying
  3. and Check if you can get extra help

  4. Step 3 Prepare your application

  5. Step 4 Apply

    1. Apply online

    You'll need to create a student finance account if you're a new student or sign into an existing account if you're a returning student.

    It can take up to 6 weeks to process your application. You might have to provide extra evidence.

  6. Step 5 Update your details if your circumstances change

    You must update your application if your circumstances change. For example if you:

    • change your course through clearing
    • change where you're going to live - for example with your parents instead of halls
    1. Find out how to update your application
  7. Step 6 Make sure you can be paid

    After you register at your university or college you'll usually get your maintenance loan paid directly into your bank account at the start of each term.

    Use your student finance account to:

    • update your bank details - for example if you open a student account
    • check how much you'll be paid
    • check when you'll be paid
    1. Sign in to your student finance account
  8. Step 7 Check what to do while you're studying

    You'll need to reapply for student finance for each year of your course.

    You must keep your details up to date throughout your course because some changes can affect your loan payments, for example if your household income or bank details change.

    1. Check how to update your details
    2. Find out what to do if you suspend or leave your course
  9. Step 8 Repay your loan