Guide to UK student finance infographic

We have created this infographic guide to UK Student Finance to help you understand what finance is available to fund your degree and understand how the repayments work. It is important that you understand what debt you are taking on as well as how and when you will be expected to repay the loan. If you would like to embed this in your own website, please contact us.

A Guide to Understanding UK Student Finance
Helping you understand what money is available to fund your degree

Money that you will have to pay back

  • Tuition Fee Loan – this will be up to £9,250 a year and paid direct to your University
  • Maintenance Loan – up to £10,702 a year (dependent on your household income) and paid direct to your bank account

You will start paying this money back after your graduation and once you are earning over £25,000* (Please note this has increased to £25,000 from £21,000 as shown in the infographic).

Money that you do not have to pay back

  • Scholarships
  • Grants
  • Bursaries

This is literally free money. Do not just assume that you won’t be eligible.

How much will it cost?
The loans you take out will incur interest – what you owe overall will be more than you borrowed. While you are studying you will be charged interest at 3% above the Retail Price Index (RPI) which can go up or down.

When you graduate, interest will be charged at the same rate as the RPI. Once you start earning £25,000 or above, this will increase relative to the amount you earn. The more you earn the more interest you are charged, up to a mazimum of 3% above the RPI.

When do I repay it?
You pay back 9% each year of anything you earn over £25,000. If at any time you earn less than this, your repayments stop until you do earn more than £25,000 again.

Your debt is cancelled after 30 years, even if you have not repaid the full amount.

Find additional funding

Filter, find and apply for scholarships, grants or bursaries 
via the Funding Hub on Blackbullion.

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