Publication - Research and analysis
Student funding in further education
Research into the financial behaviour of further education students in Scotland, exploring demand for and potential impact of student loans amongst this group.
Annex H: Key principles of student loans
H.1 Key principles of student loans:
- A government-supported loan to help you with your studies
- Total amount available to you would be based on your household income, taking account of any other grants / bursaries that you are entitled to
- Repayments don't start until you are earning over a certain amount
- For comparison, if you were on the national minimum wage you would be earning £11k per year and so would not be eligible to pay it back
- Repayments are automatically deducted from your pay – you don't need to do anything or worry about missing payments
- If you have not paid off your loan after 35 years, it will be cancelled
- It does not affect your credit rating
- The interest rate is lower than for commercial debt
Contact
Email: fraser.syme@gov.scot
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