If you have fixed term repayment loan(s) and your gross income is below a certain amount, you will be able to defer (postpone) your student loan repayments for a period of 12 months, as long as you provide proof of your income or means of financial support. You can apply to the Student Loans Company to defer your student loan repayments if you have a gross monthly income of £2,161 or less (equivalent to £25,936 per year).
Gross income is calculated before any deductions (for example, Income Tax or National Insurance). You will continue to be charged interest during any period of deferment.
To assess your eligibility for deferment, we will only take your income into consideration - you do not need to provide details about the income of any spouse, partner, parent or other relative.
Until you receive confirmation of deferment in writing, you must assume that repayments are due, regardless of whether your income falls below the deferment threshold.
For more advice on deferring your fixed term repayments or to ask for an application form, please contact Student Loans Company on 0870 6060 704.
