Course Fees

We know that the cost of studying can be a big consideration, especially at the moment as other living costs increase. Understanding how your course is funded and how and when you would need to repay that funding is important. Your repayment is linked to your future earnings and only begins once you earn a certain amount. Read our guide to find out more about how your higher education course is funded, and remember that we are here to help if you have any questions.

Cost is often one of the biggest considerations for people choosing whether to enter higher education. There can be a lot of misunderstanding about the ‘up front’ and ‘repayment’ cost of going to university, so it is important to know what this means when making your decision.

When you study with us you are charged a tuition fee. This covers the costs associated with the course (such as your tutor’s salary, and facilities etc). However, if you apply for a student loan from the Student Loans Company, the tuition fee is paid directly to us by them, so you won’t have to pay anything up-front for this during your studies. You repay that loan after you have finished your course but only (and this bit is crucial) when you are earning over a certain amount of money. Currently, that amount is £27,295 a year (£2,274) a month. Once you earn more than that, the amount you pay back towards your loan increases steadily as your income increases.

Until you are earning more than the threshold of £27,295 you will not have to repay your student loan.*

If, and when you do earn more than this, the amount you repay is 9% of everything you earn over the £27,295 threshold. So, for example,

if you earn £28,000 a year you will pay back 9% of £705 a year, (which is £63.45 a year, or £5.29 a month).

If you earn £35,000 a year you will pay back 9% of £7,705 (the difference between your earnings and the threshold), which is £693.45 a year (approximately £58 per month).

*This table is only a guide and all figures are approximate.

This model is intended to spread the cost of paying for your course fees over a number of years and in relation to your ability to pay. It is also important to know that once 30 years have passed from when you complete your course, any remaining debt you have to the Student Loans Company is wiped and you no longer pay anything back. This is the case even if you have never earnt enough to pay back any of your loan.

At UCDon we are committed to giving more people the chance to change their lives through higher education. We charge a lower course fee than many universities. This could mean that if you do have to pay your loan back in future years, the overall amount you repay is lower by studying with us than it will be if you study with a higher charging provider.

You can see what course fee we charge through our course pages.

Key things to remember:

• If this is your first higher education course, you can use the student loans system to cover the cost of your course fee.
• That ‘loan’ is only repayable after you complete your course and then only when you are earning over a certain amount (currently £27,295). The amount you repay each month is linked to what you earn above this amount.
• At UCDon many of our courses have lower fees than at other higher education providers. This could mean that the overall amount you would repay across your lifetime is lower.

Keep in mind and find out more:

There are other things to be aware of in relation to student loans, for example interest is charged on the loan over time.  This interest does not impact how much you pay back each month but might impact on how long you are paying your loan back for (up to the 30 year limit). There are also different arrangements for postgraduate study.

*In February 2022, the government announced plans to make changes to the system for people entering higher education courses from 2023 onwards. The threshold at which loans will start to be paid back will lower to £25,000 and the period after which the loan will be wiped is extending from 30 years to 40 years. These are important things to be aware of when deciding about when to start your studies.

You can find out more about student loans by visiting the student loans company website: https://www.gov.uk/student-finance

There is also detailed analysis of the student loans system and what it means for students on the money saving expert website: Student loans: the truth about uni fees, loans & grants – MSE (moneysavingexpert.com). Please note that we are sharing this website for information and not as an endorsement of its analysis.

If you would like to talk to one of our team about student loans and student finance, we are here to help. Contact us to discuss fees and finance today.