Tuition Loans and Maintenance Loans

Hi I just wanted to know if getting a maintenance loan on-top of a tuition fees loan will affect how much I will have to pay monthly after graduating. As in will getting a maintenance loan increase the monthly amount I owe or not?

Reply 1

artful_lounger

Universities Forum Helper

No, it should just change how long you make repayments for. It adds to the principal of the loan, you still just make repayments based on a proportion of your income when earning over the threshold (i.e. you will only pay more back if you are earning more). So you should pay the same amount, you just have more on the principal of the loan so will take longer to pay the total off.

Spoiler

In relation to the above SFE posted some useful facts about the student loans a couple years ago (may not be fully up to date currently though): https://www.gov.uk/government/news/8-things-you-should-know-about-your-student-loan--2

(edited 10 months ago)

Reply 2

Ross SLC

Official Rep

Original post by destrome1100

Hi there,

It would be a total loan repayment which would include both. If you require more information about repayments then please contact them directly. If you prefer to communicate to them via chat then you can message them on Twitter: https://twitter.com/messages/compose?recipient_id=806835849916719104 or Facebook: http://m.me/SLCRepayment - alternatively they are also available on the phone, their number is 0300 100 0611.

Thanks,
Ross