At the moment, we believe repayments will work as below.
Repayments will be made at 9 per cent of your income over the threshold above £21,000. For example, if your income is £25,000 a year then your loan repayments would be around £360 a year or £30 a month. The repayments are based purely on income, not on the amount borrowed or number of loans. So regardless of how much you owe the repayments will be the same. If your income falls below £21,000, repayments will stop and only re-start when your income increases to more than £21,000.