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When do you pay back your maintenance loan? Watch

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    I've seen details of how and when to pay the the tuition fee loans, but when do you pay back the maintenance loan with the interest on it?
    How does it work? Is it when your earning over £15,000 like the student tuition fee loan?
    Are you entitled to the maintenance loan for each year of uni?

    Oh and can you choose how much of the maintenance loan you want, so not take out the maximum amount?
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    You pay the maintenance loan back in exactly the same way as you pay back the tuition fee loan - when you are earning over £15,000.
    Yes you are entitled to the maintenance loan for each year of uni, but you have to re-apply for it every year.
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    Like wallflower says you'll pay back the tuition fee loan and maintenance loan together starting the April after you graduate but only if you are earning £15,000. If you're not then you'll start paying it back when you do. It will come straight out of your monthly wage from your employer so you don't need to do anything.

    You can choose how much maintenance loan you want, I think there's a box to put a figure in when you are filling the form in.
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    Yes, you pay together, in fact both tuition and maintenance loan are in one account ie you have debt of 15000 not two accounts of 7500, for example
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    (Original post by wallflower*)
    You pay the maintenance loan back in exactly the same way as you pay back the tuition fee loan - when you are earning over £15,000.
    Yes you are entitled to the maintenance loan for each year of uni, but you have to re-apply for it every year.
    Hi how much interest is the mainenance loan?
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    RPI Plus 3%, currently 6%, same as tuition fee loan, from the day you take out the loan, whilst studying.
    It then varies as to how much you are earning.
 
 
 
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