Original post by aalimk
Sorry but can someone actually just explain student finance to me I’m so lost. So do you pay back at the end of the year or at the end of your course? And how long do you have to pay it back?
Hi,
You pay your student finance back once your course is completed and only once you are earning over the threshold and a percentage is taken out of your paycheck. Here are some links for student finance Wales and England to give you some more info.
Home | Student Finance Wales
Repaying your student loan: When you start repaying - GOV.UK (www.gov.uk)
I hope this helps,
-Victoria
Wrexham Uni Rep
Original post by aalimk
Sorry but can someone actually just explain student finance to me I’m so lost. So do you pay back at the end of the year or at the end of your course? And how long do you have to pay it back?
You can take out loans for both tuition fees and maintenance. You start to make repayments from the April after you graduate if you earn above the earnings threshold. For the current plan 5 student loans, the earnings threshold is £25,000 and you pay 9% of earnings above that figure. You will continue to repay for 40 years or until you have paid off the loans (whichever comes first). Your employer deducts the payment monthly from your earnings.
There is a good article that is well worth a read:
https://www.moneysavingexpert.com/students/student-loans-england-plan-5/
Original post by WrexhamUniReps
Hi,
You pay your student finance back once your course is completed and only once you are earning over the threshold and a percentage is taken out of your paycheck. Here are some links for student finance Wales and England to give you some more info.
Home | Student Finance Wales
Repaying your student loan: When you start repaying - GOV.UK (www.gov.uk)
I hope this helps,
-Victoria
Wrexham Uni Rep
You pay your student finance back once your course is completed and only once you are earning over the threshold and a percentage is taken out of your paycheck. Here are some links for student finance Wales and England to give you some more info.
Home | Student Finance Wales
Repaying your student loan: When you start repaying - GOV.UK (www.gov.uk)
I hope this helps,
-Victoria
Wrexham Uni Rep
Thank you!!
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