Advice and Counselling Service

Advice and Counselling Service menu

Loan repayments

Loan repayments

Information for all students

Your Tuition Fee Loans and Maintenance Loans will be combined into one Student Finance loan account.

You will be charged interest on your loans from the day SFE make your first payment, until the loan is repaid or written off, whichever is first. The interest is added to the total amount you owe every month.

Your monthly repayments are based on how much you earn once you finish studying, not on how much you borrowed. The amount you borrow just affects the total repayment amount and therefore how many years it will take you to repay your loan.

When you have to start making repayments and how much interest you are charged differs according to when you started your course (see below).

If you are working for a UK employer, your repayments are taken automatically through the UK tax system, before you receive your wages. If you are self-employed or you are working for a non UK employer you will pay through self-assessment.

If your income stops, or falls below the salary threshold, your repayments should automatically stop.

You are allowed to make extra voluntary repayments, without penalty. You can contact the Student Loans Company to arrange this.

For more detailed information see Repaying your Student Loan

When do I start repaying my loan and how much interest will I pay?

If you’re a full-time student you’ll be due to start repaying your loan the April after you finish or leave your course.

You won’t have to start repaying your loan until you are earning over £25,725 a year. You will repay 9% of earnings above £25,725.

The repayment threshold will rise to £26,575 from 6 April 2020 to 5 April 2021.

In most circumstances any unpaid loan amount will be written off 30 years after you first become liable for repaying the loan.

The amount of interest charged is based on the UK Retail Price Index (RPI) and will vary depending on your circumstances. The interest rate is updated once a year in September, using the rate of RPI from March. The rate of RPI from March 2019 is 2.4%. 

While you are studying, and until the April after leaving your course, you will be charged interest at the Retail Price Index (RPI) plus 3%.

If you finish or leave your course before April 2019 you will be charged interest at RPI plus 3% until the April after you leave your course, and then RPI.

From April 2019, the interest rate will be based on your income:

  • £25,725 or less – RPI
  • £25,000 to £46,305 – RPI plus up to 3% depending on level of income
  • £46,305 and over – RPI plus 3%

For the latest interest rates click here.


If you return to live in your home country after graduation, you must inform the Student Loans Company, who will ask for information about your earnings and give you your monthly repayment schedule. The income threshold above which you will become liable to start repaying your Student Finance loans will normally vary depending on your country of residence. For more information click here

Law, regulations and policies can change quickly. The information on our website is given in good faith and has been carefully checked but QMUL cannot accept responsibility for any errors or omissions. QMUL is not responsible for the content or reliability of the linked websites which are provided for further information.

Return to top