Arts-University-Plymouth-Merch-On-Table-2025

Latest News

How student loans make university affordable

Are you worried about the cost of university? You're not alone. Many students worry about tuition fees, loans, and repayments—but here’s the good news: student loans are designed to make university affordable and give everyone the chance to study.

In this guide, we’ll explain how student loans work and why they’re not as scary as they might seem.

Arts-University-Plymouth-building-at-night
<p dir="ltr">One of the biggest concerns about university is tuition fees, which are currently capped at £9,535<strong> per year</strong> in England. But the good news is, you don’t need to pay these fees upfront.</p> <p dir="ltr">The government offers a <strong>Tuition Fee Loan</strong>, which covers the full cost of your course. This means you can study without worrying about how to pay for it right now.</p> <p dir="ltr">On top of that, you can apply for a <strong>Maintenance Loan</strong> to help with living costs like rent, food, and travel. The amount you get depends on your household income—students from lower-income families often receive more.</p> <p dir="ltr"><a href="https://www.aup.ac.uk/study/undergraduate/fees-financing-and-funding#student-loans" target="_blank" rel="noreferrer noopener">Learn more about student loans and funding at Arts University Plymouth</a>.<br /></p>
<p dir="ltr">Student loan repayments aren’t like other loans. You only start paying back your loan <strong>when you earn over £25,000 a year</strong>.</p> <p dir="ltr">Even then, the amount you pay is based on what you earn—not what you owe. You’ll pay <strong>9% of anything you earn over £25,000</strong>.</p> <p dir="ltr">Here’s how it works:</p><table><tbody><tr><td><p dir="ltr"><strong>Yearly income before tax</strong></p></td><td><p dir="ltr"><strong>Monthly income before tax</strong></p></td><td><p dir="ltr"><strong>Monthly repayment</strong></p></td></tr><tr><td><p dir="ltr">£24,990</p></td><td><p dir="ltr">£2,082</p></td><td><p dir="ltr">£0</p></td></tr><tr><td><p dir="ltr">£26,000</p></td><td><p dir="ltr">£2,166</p></td><td><p dir="ltr">£7</p></td></tr><tr><td><p dir="ltr">£28,000</p></td><td><p dir="ltr">£2,333</p></td><td><p dir="ltr">£22</p></td></tr><tr><td><p dir="ltr">£30,000</p></td><td><p dir="ltr">£2,500</p></td><td><p dir="ltr">£37</p></td></tr><tr><td><p dir="ltr">£35,000</p></td><td><p dir="ltr">£2,916</p></td><td><p dir="ltr">£75</p></td></tr></tbody></table> <p dir="ltr">This system ensures that your repayments are always affordable. If your income ever drops below <strong>£25,000</strong>, (e.g. due to a career change or reduced hours), repayments stop automatically until you’re earning above the threshold again.<br /></p>
Smiling-open-day-attendees-2024-arts-university-plymouth
<p dir="ltr">Unlike traditional debt, student loans aren’t designed to be repaid in full by everyone. In fact, many graduates won’t repay the total amount they borrow before their loan is wiped.</p> <p>For students on Plan 5 loans (those starting university after <strong>1 August 2023</strong>), any outstanding balance is cancelled <strong>40 years after repayments begin</strong>. This means you’ll only pay back what you can afford during your working life—and nothing more.</p>
<p dir="ltr">It’s true that student loans build up interest over time, but this won’t change how much you repay each month. Your repayments are always based on your income, not the interest added to your loan.</p> <p>For loans taken out from <strong>1 August 2023</strong> (Plan 5 loans), interest rates are capped at the <strong>Retail Price Index (RPI)</strong>, which measures inflation. This keeps the real value of your loan steady over time.</p>
<p dir="ltr">Worried about how your student loan might affect your financial future? Rest assured—it won’t impact your credit score or your ability to get a mortgage.</p> <p dir="ltr">When it comes to applying for a mortgage, lenders will consider your monthly student loan repayments when working out how much you can borrow. But because the repayment amounts are small, most graduates find it doesn’t stop them from getting approved.<br /></p>
SO APPROVED Copy of 52337963861 49ee0c1d5a 6k 1 1
<p dir="ltr">If you’re worried about managing your money at university, there are extra funding options available:</p><ul><li dir="ltr"><p dir="ltr"><strong>Grants and bursaries</strong> (these don’t need to be repaid)</p></li><li dir="ltr"><p dir="ltr"><strong>Support for disabled students</strong></p></li><li dir="ltr"><p dir="ltr"><strong>Funding for students with children or dependants</strong></p></li></ul> <p dir="ltr">At Arts University Plymouth, we also offer a range of scholarships and bursaries to ensure all students have the opportunity to pursue their creative passions.<a href="https://www.aup.ac.uk/study/undergraduate/fees-financing-and-funding#student-loans" target="_blank" rel="noreferrer noopener"> Explore our financial support options here</a>.<br /></p>
Arts-University-Plymouth-Graduation-Big-Crowd-Smiling-2023
<p dir="ltr">If you’re going to take out a loan to go to university, it’s important to choose the right place for you. At Arts University Plymouth, we’re proud to be ranked among the best in the UK for student satisfaction, teaching quality, and support:</p><ul><li dir="ltr"><p dir="ltr"><strong>#2 in the UK for Student Satisfaction</strong> – Times Higher Education analysis of the National Student Survey 2024</p></li><li dir="ltr"><p dir="ltr"><strong>Top scoring arts university in the UK</strong> – National Student Survey 2024, 2023 &amp; 2022</p></li><li dir="ltr"><p dir="ltr"><strong>#2 in the UK for Teaching Excellence</strong> – Daily Mail University Guide 2025</p></li><li dir="ltr"><p dir="ltr"><strong>#2 in the UK for Facilities</strong> – Whatuni Student Choice Awards 2024</p></li><li dir="ltr"><p dir="ltr"><strong>#3 in the UK for Student Support</strong> – Whatuni Student Choice Awards 2024</p></li><li dir="ltr"><p dir="ltr"><strong>#3 in the UK for Interior Design</strong> – The Guardian University Guide 2025</p></li><li dir="ltr"><p dir="ltr"><strong>#4 in the UK – University of the Year</strong> – Whatuni Student Choice Awards 2024</p></li><li dir="ltr"><p dir="ltr"><strong>#4 in the UK for Lecturers &amp; Teaching Quality</strong> – Whatuni Student Choice Awards 2024</p></li></ul> <p dir="ltr">With fantastic facilities, award-winning teaching, and outstanding student support, we’re here to help you make the most of your creative future.<br /></p>
<p dir="ltr">Choosing to attend university is about more than just earning a degree. It’s an investment in yourself—your skills, your career, and your potential.</p> <p>Graduates earn, on average, <strong>£10,000 more per year</strong> than non-graduates (Department for Education, 2022). Beyond financial benefits, university opens the door to incredible opportunities, networks, and personal growth.</p>
Group-of-students-smiling-chatting-arts-university-plymouth-2023
<p dir="ltr">Student loans are here to make university affordable, so you don’t need to worry about how to pay for your studies. At Arts University Plymouth, we’re here to answer your questions and provide support every step of the way.</p> <p dir="ltr">For more information, check out these trusted resources:</p><ul><li dir="ltr"><p dir="ltr"><a href="https://www.savethestudent.org/student-finance/15-tuition-fee-myths-debunked.html" target="_blank" rel="noreferrer noopener">Save the Student’s guide to student finance myths</a></p></li><li dir="ltr"><p dir="ltr"><a href="https://www.gov.uk/student-finance" target="_blank" rel="noreferrer noopener">Official UK Government guidance on student finance</a></p></li><li dir="ltr"><p dir="ltr"><a href="https://blog.moneysavingexpert.com/2024/10/martin-lewis--five--need-to-know-about-student-finance-2025-26/" target="_blank" rel="noreferrer noopener">MoneySavingExpert’s advice on student loans</a></p></li></ul> <p dir="ltr">Ready to explore your future at Arts University Plymouth?<a href="https://www.aup.ac.uk/study/undergraduate/fees-financing-and-funding#student-loans" target="_blank" rel="noreferrer noopener"> Discover how we can support your creative ambitions</a>.<br /></p>