Your finances after University

Repaying your student loan

You will be liable to make student loan repayments when:

• it's at least the April following your completion or leaving of your course, and
• your income reaches a certain level

If you are unemployed, continuing in education, or your income is less than this level then repayments will not be taken. If you are overseas, the income threshold varies. For more information, contact the Student Loans Company.

Debt

If you are worried about any debts you have built up, please seek advice as soon as possible from your local Citizens Advice Bureau.

Please do not apply for consolidating loans and similar products without seeking advice as you may make your situation worse.

Find out more about managing debt.

Student bank accounts and overdrafts

Your bank will usually contact you during your final year to establish whether you have any definite plans following graduation. If you aren't continuing your studies then they are likely to offer to convert your account to a graduate account. Once you have a graduate account, overdrafts may incur interest and charges - check the terms and conditions carefully.

You don't have to stay with the same bank. Even if you are overdrawn you may get a better deal elsewhere. If you are considering taking out a loan to pay off your overdraft, seek independent advice and check terms and conditions carefully.

Starting work

Our Student Services Hub is a good first stop for advice on careers. When you start work you will have to pay income tax and National Insurance. The amount you will pay depends on how much you earn. If you are employed these are deducted from your wages automatically by your employer.

Paying council tax

Once you are no longer a full-time student you will lose your exemption from paying council tax. You should notify the local council where you are living that you are no longer a student. If you are finishing one course and starting another (for example, if you are finishing an undergraduate degree in July and beginning a postgraduate course in October) you will not be exempt from council tax between the two courses. The Citizens Advice Bureau can give advice on Council Tax.

Graduates with a disability

Disability Rights UK will give specific help for graduates with disabilities. They provide information, guidance and advice on careers and other areas.

Disabled postgraduate students can apply for Disabled Students Allowance (DSA).