After graduation

Helping you save, budget and take the next steps

Paying off your student loan

After leaving university, you'll only start repaying your student loan once you're earning approximately £21,000 a year.

From then on your repayments are fixed at 9% of everything you earn above that threshold. For example, if you earn £30,000 a year you are £9,000 over the threshold and will pay 9% on that £9000. Therefore your yearly repayment would be £810.

If you never get a job earning over the £21,000 threshold, you won't have to repay a penny.

After 30 years, any remaining debt will be written off. So, beginning on the April after graduation, you'll stop owing when the debt is clear or when 30 years have passed.

No. Your repayments are made through your company payroll and will be deducted in the same method as income tax.

If you leave the country or become unemployed, the student loan company may send you a letter asking for an update on your circumstances, but they are not chasing you for money.

Yes. Although this is not recommended.

With your student loan debt being written off after 30 years, many might not eventually repay the amount they owe, so paying it all off in advance of that could in fact be wasting money. In general, people are encouraged to pay off their debts as quickly as possible, but with your student loan there's no rush.

Student loans do not go on credit files.

Credit card and mortgage agencies may ask on application forms if you have a student loan, but it shouldn't be a factor in any transaction decision they make.

Student debt can impact a mortgage decision but only on the affordability checks that establish your ability to afford mortgage repayments. But as you'd be in a full time job to be paying back your student loan, it shouldn't be too detrimental.

From 1 August 2016, for the first time, new master's students will be able to apply for Student Loans Company loans of up to £10,000 to pay for their courses – these will then only need repaying if they earn enough once the course ends.

How we can help

Taking a step back and looking at your finances could really help you to feel in control and stay on top of your spending. A free Financial Health Check with one of our staff is a great way to do that. They can go through your day-to-day spending and help you with ideas on how you can make your money work harder.

Tools to help you plan ahead

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Savings goal tool

Set up a savings goal to help you save for a house, car or holiday.
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Salary calculator

Work out what your take home pay is each month after tax.
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Budget calculator

Use our calculator to help you budget at university.

Life after university

Prepare for your first job

We have some excellent interview tips for graduates, helping you to find your first job. Interested in working for yourself? We have something for you too.

Thinking about travelling?

You've just spent years studying, you want to relax, see the world and go travelling. Our travel life moments can provide you with some travel top tips. 

What's the right account for you?

Everybody has different needs from their bank account and we want to make sure you're using the right one. Our current accounts provide flexibility to help you manage your everyday money as simply and effectively as possible. 

Is there something else you're looking for?

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