Repaying your student loan

When you start and finish repaying

When you start paying depends what repayment plan you’re on.

Plan 1

You’re on Plan 1 if you’re:

  • an English or Welsh student who started your undergraduate course before 1 September 2012
  • a Scottish or Northern Irish student

You’ll start repaying your student loan the April after you leave your course if your income is over £18,330. This amount changes on 6 April every year.

You stop paying if your income drops below this amount.

Plan 2

You’re on Plan 2 if you’re an English or Welsh student who started your undergraduate course on or after 1 September 2012.

The earliest you start repaying is when your annual income is over £25,000 and it’s either the:

  • first April after you leave your course
  • April four years after the course started, if you’re studying part-time

Early repayments

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

If you’ve nearly paid off your loan

You can avoid overpaying if you know your loan will be paid off within 2 years.

If you’re an employee

Tell the Student Loans Company you want to pay by direct debit.

If you’re self-employed

State on your tax return that your loan will be paid off in the next 2 years.

Send your online tax return before 1 November to avoid overpaying.