Student loan

The student loan is a type of debt that you will start repaying when you start earning more than £15,000 a year.

It is probably the best loan you will ever get as it is an educational loan and follows inflation rather than high interest rates. You also do not need to worry about paying it back until the April after you have finished your studies and started work.

Depending on when you have taken out your student loan, different rules and costs apply.