Straight answers
Do I pay off my tuition and living costs loans separately?
No, they're added together so you make one monthly payment.
How do I pay it?
It's taken off your salary automatically so you don’t have to do anything. If you're self–employed, you'll pay through HM Revenue and Customs.
Do my fees go up for each year of my course?
Your fees may increase by a small amount each year in line with inflation. The government announces this each year.
Can I pay my fees upfront?
Yes, you have the option to pay all or part of your fees upfront. If you only pay part of the fee upfront, you can take out a loan for the rest.
Can I pay it off early?
Yes. There's no extra charge for paying off your loan early.
What about interest?
• Interest is applied at the rate of inflation + three per cent up until the April after you graduate. After that, if you're earning less than £21,000 a year, interest is applied at the rate of inflation.
• If you're earning between £21,000 and £41,000 a year, interest is applied at somewhere between inflation and inflation + three per cent, depending on exactly how much you earn.
• When you’re earning over £41,000 a year, interest is applied at inflation + three per cent.
What if I lose my job or take a career break?
If your salary falls below £21,000, your payments automatically stop. Payments don’t start again until you're earning over £21,000.
This applies even if you decide to take a pay cut voluntarily.