Figures are for the 2026/27 tax year (thresholds) and for 1 September 2026 to 31 August 2027 (interest). Checked against GOV.UK in October 2026.

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The basics: paying back student loans

Do you have to pay back student finance?

Yes. Tuition fee loans and maintenance loans have to be repaid, including if you move abroad. How much you repay depends on your income, not on how much you borrowed.

Do I have to pay back grants or scholarships?

Grants, scholarships and bursaries usually don't have to be paid back. You may have to repay some or all of one if you didn't meet its conditions, for example if you left your course or were paid more than you were entitled to.

How to pay back student finance

You usually start repaying in the April after you finish or leave your course, but only once your income is over the repayment threshold for your plan. There are some exceptions for part-time and doctoral courses.

If you're employed, repayments are taken from your pay through PAYE. If you're self-employed, you pay through Self-Assessment.

Which repayment plan am I on?

There are four numbered repayment plans (Plan 1, Plan 2, Plan 4 and Plan 5) and a separate Postgraduate Loan plan. Your plan depends on which student finance body you applied to, when your course started and what type of course it was. You can have more than one plan.

If you applied to Student Finance England

• Plan 1: any course that started before 1 September 2012.

• Plan 2: an undergraduate course, a PGCE or an Advanced Learner Loan, where the course started between 1 September 2012 and 31 July 2023. Plan 2 also covers Higher Education Short Course Loans, whenever the course started.

• Plan 5: an undergraduate course, a PGCE, an Advanced Learner Loan, or student finance through the Lifelong Learning Entitlement, where the course started on or after 1 August 2023.

• Postgraduate Loan plan: a postgraduate master’s or doctoral course funded by a Master’s Loan or Doctoral Loan.

If you applied to Student Finance Wales

• Plan 1: an undergraduate course or PGCE that started before 1 September 2012.

• Plan 2: an undergraduate course or PGCE that started on or after 1 September 2012. Plan 5 doesn’t apply to Student Finance Wales loans, so Welsh-funded students who started in or after August 2023 are also on Plan 2.

• Postgraduate Loan plan: a postgraduate master’s course that started on or after 1 August 2017, or a doctoral course that started on or after 1 August 2018.

If you applied to the Student Awards Agency Scotland (SAAS)

• Plan 4, for both undergraduate and postgraduate courses

If you applied to Student Finance NI

• Plan 1, for both undergraduate and postgraduate courses

What is student loan interest?

Student loan interest is added to your loan from the day the first payment is made, including while you're studying and when you earn below the threshold. Each plan sets interest differently. Rates from 1 September 2026 to 31 August 2027:

• Plan 1: the lower of the Retail Prices Index (RPI) or the Bank of England base rate plus 1%. Currently 4.1%.

• Plan 2: while you're studying, RPI plus 3%. After you leave, between RPI and RPI plus 3%, depending on your income: 4.1% if you earn £29,385 or less, rising gradually to 6% if you earn £52,885 or more. Plan 2 interest is capped at 6% for this period.

• Plan 4: the lower of RPI or the Bank of England base rate plus 1%. Currently 4.1%.

• Plan 5: RPI. Currently 4.1%.

• Postgraduate Loan: RPI plus 3%, capped at 6% for this period. Currently 6%.

Rates usually change each September and can change during the year.

How much you repay

How much student finance do I pay back?

You repay 9% of your income above the threshold for Plans 1, 2, 4 and 5, and 6% above the threshold for a Postgraduate Loan.

Example monthly repayments on a £33,000 salary (£2,750 a month) in 2026/27:

Repayments come off your balance, but interest is also added to it. If the interest added is more than you repay, your balance can keep growing even while you're making repayments.

How much do I pay if I’m in more than one plan?

If you have more than one undergraduate plan, you repay 9% of your income above the lowest of your thresholds, split between your loans.

If you also have a Postgraduate Loan, you repay that separately: 6% of your income above £21,000, on top of your other repayments. For example, someone earning £45,000 a year with a Plan 2 loan and a Postgraduate Loan would repay about £117 a month towards Plan 2 and £120 towards the Postgraduate Loan, about £237 a month in total.

When do I have to start repaying student loan

You usually start repaying in the April after you finish or leave your course, and only once your income is over your plan's threshold. There are some exceptions:

• Part-time courses longer than four years that started before 1 January 2027: you start in the April four years after your course started, even if you're still studying.

• Doctoral Loans: you start in the April after you finish your course or the April four years after it started, whichever comes first.

When is a student loan written off?

Any balance left is written off after a set period, counted from the April you were first due to repay:

• Plan 1: 25 years if you were first paid on or after 1 September 2006. If you were first paid before then, it's written off when you're 65.

• Plan 2: 30 years.

• Plan 4: 30 years if you were first paid on or after 1 August 2007. If you were first paid before then, it's written off when you're 65 or after 30 years, whichever comes first.

• Plan 5: 40 years.

• Postgraduate Loan (England or Wales): 30 years.

Loans are also cancelled if the borrower dies, and can be cancelled in some cases of disability (see FAQs).

Making extra payments

You can make voluntary payments on top of your compulsory repayments at any time, without a penalty.

Do extra student loan payments reduce what you pay?

It depends on your plan, your income and whether your loan is likely to be written off before you clear it. Extra payments reduce your balance and the interest added to it. But if your loan would be written off before you repaid it in full, money you pay early may not reduce the total you repay. Voluntary payments can't be refunded.

Getting a refund

If you've repaid more than you owed, or repayments were taken when your income was below the threshold, you can ask the Student Loans Company (SLC) for a refund.

Future Earnings Agreements

A Future Earnings Agreement (also called an income share agreement) is a private arrangement in which you get funding now and agree to pay a share of your future income for a set period. They're not part of government student finance and are offered by only a small number of providers. Depending on your earnings, you could repay more than you received. The terms are set in each contract.

FAQs

Do I pay back my student loan if I move abroad?

Yes. You must tell SLC if you're leaving the UK for more than three months. While you're abroad, your repayments are based on the threshold for the country you live in, so the amount can be different from what you'd pay on the same income in the UK. If your overseas income is below the threshold for that country, you'll need to give SLC evidence, such as a recent bank statement. If you don't keep SLC updated, you could build up arrears. See GOV.UK: if you move abroad.

Do I have to pay back my student loan if I leave university early?

Yes. Money you've already borrowed is repaid under your plan's normal rules: usually from the April after you leave, and only when your income is over the threshold. How much tuition fee loan you owe depends on when in the academic year you leave. If you were paid maintenance loan or grant you weren't entitled to after leaving, that overpayment is repaid separately and isn't covered by the income-based rules. See GOV.UK: when your loan is written off or cancelled.

Can my student loan be cancelled?

Besides the write-off periods above, SLC may cancel your loan if you're permanently unable to work because of illness or disability and you get certain disability benefits. You'll need to send SLC evidence, such as a letter from the benefits agency, with your customer reference number. Loans are also cancelled when the borrower dies. See GOV.UK: when your loan is written off or cancelled.

Does the amount I borrowed affect my monthly repayments?

No. Monthly repayments are based on your income and your plan's threshold, not on how much you borrowed. The amount you borrowed, plus interest, does affect how long you repay for and whether anything is left to be written off.