Repayments
If you have taken out a government loan you will be expected to start repaying this once you have left your course and are earning above a certain amount. The information below is the University's best understanding of the current position. Any changes the government make to repayment arrangements are outside the control of the University.
What will I need to repay?
Any loans you take out from the government for your course fees or living costs will be added together to form a single amount to be repaid. Each year you should receive a statement which details the amount to be repaid and the amount of interest that has accrued.
You do not have to repay Assembly Learning Grants, Maintenance Grants, or Special Support Grants as part of this process. Oxford Bursaries are also non-repayable.
| TUITION FEE LOAN + MAINTENANCE LOAN = SINGLE AMOUNT (repayable after your course) |
What and when will I have to repay?
You will not need to start repaying anything until the first April after you have left your course and you are earning over the repayment threshold.
How much will I pay in total?
As well as repaying the original amount you borrowed, you will have to repay the interest which is added to this. Interest will be added to the outstanding balance each year, not the original amount you borrowed.
What if interest rates go up?
Interest rates will vary each year as they are based upon RPI. However the amount you will pay per month will not be affected by interest rates. What will potentially change is the length of time it takes you to repay your loan.
Will I be repaying for the full repayment period?
This depends upon how much you earn during the repayment period. A large number of people are likely to be repaying for the full number of years as they won’t earn enough to repay the debt earlier; however this will mean that you won’t repay the full amount.
Will there be an early repayment charge?
There is no system of charges for students who wish to repay their loans early. Additional repayments can be made at any time by debit card, cheque, or by direct debit. Repayments from overseas can be made by international bank transfer.
Will I earn enough to repay my loans?
Remember the amount you repay will depend upon your earnings, not the amount due to be repaid, so you will earn enough to repay what you are expected to even if this isn’t the full amount. However Oxford students are highly sought after by employers due to their motivation and achievement levels. Students from Oxford go into a large variety of professions.
Where can I find more information on repaying government support?
You can find further information on repayments at the GOV.UK Repayments website.
View independent advice on student funding from MoneySavingExpert.com.