REPAYMENT Loans are only payable when you have finished your studies and are earning over £25,000 per year. Payments stop if your salary falls below this threshold. Repayments are 9% of the income above £25,000. For example, someone earning £27,000 a year would repay 9% of £2,000 (approximately £15 per month). Any outstanding balance is written off after 30 years. All grant awards are non-repayable (subject to terms and conditions). The table below illustrates example repayment amounts.
INCOME EACH YEAR BEFORE TAX
APPROXIMATE MONTHLY REPAYMENT
MONTHLY SALARY
£25,000
£2,083
£0
£27,000
£2,250
£15
£30,000
£2,500
£37
£33,000
£2,750
£60
MOST AFFORDABLE UNIVERSITY TOWN FOR TYPICAL LIVING AND ACCOMMODATION COSTS SEE PAGES 17-19 0
£35,000
£2,916
£75
*All figures shown are the 2019/20 rates and are intended as a guide only. Tuition fees are subject to annual increases in line with inflation and the new rates will be published on our website as soon as they become available: swansea.ac.uk/undergraduate/fees-and-funding
FIND OUT MORE Funding your degree and financial support available to you: swansea.ac.uk/undergraduate/ fees-and-funding
(totallymoney.com 2019)
General funding queries:
S tudent Finance Wales 0300 200 4050 Student Finance England 0300 100 0607
Specific financial information, advice or guidance: money.campuslife@swansea.ac.uk 01792 606699
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