Student Finance repayments

Hi, I've applied for student finance for the first time this year. I am aware that I need to pay back the loan for tuition fees, however does the maintenance loan also have to be paid back? I thought it did, but my parents are saying otherwise.Thank you :smile:

(edited 11 months ago)

Reply 1

normaw

Clearing and Applications Advisor, Universities Forum Helper

19

Original post by Charlotte! :)

Hi, I've applied for student finance for the first time this year. I am aware that I need to pay back the loan for tuition fees, however does the maintenance loan also have to be paid back? I thought it did, but my parents are saying otherwise.Thank you :smile:

Both loans are combined and you will repay 9% on anything you earn above the repayment threshold (£25,000 per annum) for the repayment term (40 years) or until the debt is paid off if that is sooner.

The following article is worth a read:

https://www.moneysavingexpert.com/students/student-loans-2023/

Reply 2

Manny2023

11

Original post by Charlotte! :)

Hi, I've applied for student finance for the first time this year. I am aware that I need to pay back the loan for tuition fees, however does the maintenance loan also have to be paid back? I thought it did, but my parents are saying otherwise.Thank you :smile:

I have a feeling your parents were referring to the good old days when there were maintenance grants instead of maintenance loans. A loan is a loan, just like a Tory is a Tory.

Student Finance repayments

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