If you have taken out a tuition fee loan to pay your tuition fee, this money will be automatically transferred to your tuition fee account in October. There is nothing you need do to ensure this takes place.
All Student Finance maintenance loans will be paid by electronic transfer directly into your bank/building society account. It is therefore essential that Student Finance have the correct details of your bank/building society account in order to make the payment. This information is required well in advance of your programme start date.
LSE needs to confirm that you are a registered student before your loan or bursary will be released to you and does this via a bulk confirmation of student attendance to Student Finance. The first instalment of your loan entitlement will then be paid by Student Finance into your bank/building society account within five working days.
If you have applied for a maintenance loan, please make sure that you register (new students) or re-register (continuing students) for the new academic year when advised, otherwise your payment will be delayed.
If you have registered for your studies at LSE and haven't received your maintnenance loan from Student Finance within five working days of the published payment date, or have any questions about this process, please contact the Student Finance helpline on 0845 026 2019. If you are informed by Student Finance that they are still awaiting confirmation of your attendance from the School, please contact the Student Services Centre using their online enquiry form here.
If you applied through Student Finance England you can access your record, check the position of your application, and download copies of any letters sent to you online. You will need your customer service number and password to do this.
More information about Managing your Student Finance account
If you are experiencing any major delays or problems with receiving your Student Finance maintenance loan then please contact the Financial Support Office we are not able to intervene with your application with Student Finance, but can offer advice or support.
Student Finance: guides and advice
Repayment of loans and rates of inflation
If you take out a tuition fee loan and a maintenance loan from the UK Government they are bundled together to make one combined loan. Interest starts to accrue on the loan from the day you receive the money.
You only start to repay your student loan after you graduate and once you are earning over £21,000 per year. You only repay 9 per cent of everything you earn annually above £21,000.
Rates of interest vary throughout the life of the loan, and are currently published as per the below.
The loan accrues interest at the rate of inflation (as measured by the Retail Price Index) plus 3 per cent. This continues until the first April after graduation after which a progressive taper is applied.
Graduates earning less than £21,000
The loan accrues interest at the rate of RPI inflation.
Graduates earning between £21,000 and £41,000
The interest rate will gradually rise from RPI to RPI plus 3 per cent the more you earn (the interest rises 0.00015 per cent for every extra pound you earn or, put another way, if you earn £1,000 more you accrue 0.15% extra interest). These thresholds will rise with average earnings from 2017.
Graduates earning over £41,000
The loan accrues interest at the rate of RPI inflation plus 3 per cent.
How to make repayments
The loan is repaid through the income tax system if you work in the UK. Student loans do not go on credit files.
The student loan is written off after 30 years.
Graduates are allowed to repay their loans early, if they wish to do so, without a penalty being applied.