UK Student Loan

A UK Student Loan is financial support provided by the government to help students cover university or college costs. Repayments begin only after earning above a certain income threshold, usually around £27,000 annually. The amount repaid is a percentage of the income over that threshold, typically 9%, and any remaining loan balance is written off after 30 years. The loan does not accrue interest at a fixed rate but varies with inflation and other factors. It’s a form of income-contingent borrowing designed to make higher education more accessible while ensuring repayment occurs only when financially able.