After you graduate, your tuition fee loan and your loan for living costs will be combined together into one sum. You don’t have to start paying anything back until the April after you have finished your course and only when you have started earning over £25,000 per year.

The amount you pay back is 9% of your income above £25,000 and repayments are made automatically through the tax system. Interest rates are based on the retail price index (RPI) and any outstanding repayments will be written off after 40 years.

Income each year before tax9% will be deducted from Approximate monthly repayment
£25,000  £0  £0
£35,000  £10,000  £75
£40,000  £15,000  £112
£45,000  £20,000  £150
£50,000  £25,000  £187