The following table gives example repayment amounts (for illustrative purposes only):
Income each year before tax Income each year before tax | Monthly repayment Monthly repayment |
|---|
Up to £28,470 Up to £28,470 | £0 £0 |
£30,000 £30,000 | £11.48 £11.48 |
£35,000 £35,000 | £48.98 £48.98 |
Even if you’re earning over the income threshold, you won’t have to start repaying your loan for up to four years.
Here’s how it works for our most popular qualifications:
Please note: if you finish your course or leave it early, you’ll start repaying your loan the first April after you leave the course.
Qualification Qualification | Years to complete Years to complete | Loan repayments start Loan repayments start |
|---|
Degree with honours Degree with honours | 6 years part-time study
3 years full-time study
6 years part-time study
3 years full-time study
| 4 years after course start
Up to 1 year after you finish the course
4 years after course start
Up to 1 year after you finish the course
|
Diploma of Higher Education Diploma of Higher Education | 4 years part-time study
2 years full-time study
4 years part-time study
2 years full-time study
| 4 years after course start
Up to 1 year after you finish the course
4 years after course start
Up to 1 year after you finish the course
|
Certificate of Higher Education Certificate of Higher Education | 2 years part-time study
1 year full-time study
2 years part-time study
1 year full-time study
| Up to 1 year after you finish the course
Up to 1 year after you finish the course
Up to 1 year after you finish the course
Up to 1 year after you finish the course
|
Loans accumulate interest at a rate based on the RPI (Retail Price Index) measure of inflation. The interest rate is currently RPI+3% or a lower amount capped by the UK Government at the prevailing market rate for the relevant academic year while you’re studying and until the April after you have completed the course.
However, as the amount you pay back is based on how much you earn and not how much you owe, the amount of interest added to your loan won’t ever affect the amount you pay each month.
If you haven’t finished repaying your loan after 30 years, it will be written off, and your monthly payments will stop.
To qualify for a tuition fee loan, you must:
For more eligibility information, visit the Student Finance Wales website.
If you’re looking to re-skill in subjects such as science, computing or mathematics, you may be eligible for a loan to study for a further honours degree.
To see a list of eligible qualifications, visit our Loans for degree holders in Wales page.
