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Rates and Repayments

When applying for a 19+ Advanced Learning Loan, there is no credit check and household income isn't taken into account — with loan repayments only beginning once you're earning £21,000 a year.

You only pay back 9% of any earnings over the £21,000 and the repayments are taken directly from your wage through the tax system.

Earnings each year

Monthly income

Monthly repayment

Up to £21,000


















Visit the Student Finance England site to find more about repaying your loans- loan repayment


While you are completing your studies, interest on your loan will be based on inflation — specifically, the Retail Price Index (RPI), plus 3% of the total loan amount. Interest will continue to be added at this rate until the end of the tax year.

After this point, until you start earning more than £21,000 a year, only inflation will be used. Once you start earning more than £21,000 a year, it will revert back to inflation plus 3%.

Remember, if you need more advice you can always get free impartial advice from the Money Advice Service.

How and when will I pay back the loan?

  • You’ll only start making repayments when your income is over £21,000 a year.
  • You’ll start repaying your loan in the April after you complete or leave your course.
  • You can make voluntary repayments at any time in order to pay off your loans faster.
  • If your income falls below £21,000, repayments will stop and only re-start when your income is over £21,000.
  • If you’re employed, your employer will take your repayments directly from your salary.