Understanding your student loan
Watch Martin Lewis talk through student loans and how much students will honestly repay.
Note: This talk was recorded in 2019, and uses the thresholds and interest rates applicable at that time. However, the theory behind repaying your student loan remains the same.
Some of the figures mentioned in this video have changed since the video was made. The following figures are the rates and thresholds for 2023:
- The maximum maintenance loan is now £13,022
- Graduates repay 9% of everything they earn over £27,295
- The rate of inflation is currently 10.1%
- Due to high inflation, the rate of interest was capped at 7.1% in June 2023.
Find our more from the Money Saving Expert and download the guide HERE.
Access your student loan guide from Student Loan England HERE.