Student Graduate Tax
Student Graduate Tax
Student Graduate Tax is the name sometimes given to the new tuition fees which you now have to start paying back once you have graduated and are earning above a certain threshold. They are calling it Student Graduate Tax because it only increases with the rate of inflation, unlike most loans, comes out of your wages, appearing on your payslip, and as a way of making it seem less of a burden, but this does not alter the fact that you will still have to pay your tuition fees back.
The features of Student Graduate Tax include:
Learn more about student funding and how to apply for it
- You only have to pay it when you have graduated
- The earning threshold is currently £15,000
- Repayment will be 9% of your earnings over £15,000
- 25% of the loan is subject to a means test
- The loan available depends on where you study
- Inflation means that you will only pay back what you borrow
All students will now be liable to pay Student Graduate Tax when they finish university if they are not exempt from paying tuition fees as a result of coming from a low-income family that earns below the threshold.
Find out what funding you are entitled to and apply for it online
