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Don't repay your Student Loan until you earn more than £25,725 a year

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Don't repay your Student Loan until you earn more than £25,725 a year

Government changes introduced this Spring mean that Adult Learners and those completing degrees at University Courses Burnley can now earn more before they have to start repaying their Student Loans.

From April this year, the repayment threshold has increased for working people aged over 19 from £25,000 to £25,725 a year (that's £2,143 a month or £494 a week) – which means your employer won’t be able to take your repayments from your salary until you earn over this amount. The Advanced Learner Loan to help with tuition fees works with the Student Loan Company and doesn’t take your household income into account or involve a credit check. Repayments are linked to what you earn, not what you borrow.

There is also good news for those going on to higher education.

If you take out an Advanced Learner Loan to fund an Access to HE Diploma, then go on to complete a university-level course, the balance of your loan will be written off. And, you will still be eligible for a student loan.

Plus, University Courses Burnley offer the Burnley Bursary to help with a comprehensive support package, including a cash sum and a choice of benefits, including gym membership, digital devices, Campus Credits, parking and shopping vouchers. Discover more at https://www.burnley.ac.uk/Burnley-Bursaries

Our Student Services team can offer professional, specialist advice on all aspects of Student Finance and help you through the financial maze. Make an appointment for individual guidance or email s.services@burnley.ac.uk

| Categories: Adult Learning, University Burnley | Tags: university , student loans , repayments | View Count: (608) | Return