This post first published: 09 February 2023
In February 2022, the government announced that English students starting an undergraduate course from August 2023, would have new repayment terms and conditions, known as Plan 5 student loans. The Department for Education has produced a set of resources that explain how student loans work in general and what having a Plan 5 loan means in terms of repayments.
These resources are aimed at helping prospective students and those thinking about applying for a student loan. Please download and use these resources with your pupils and young people. The explanatory video is an especially useful information product that clearly explains student finance in just a few minutes. This could be played in a classroom or assembly for example, or sent directly to those who may find it useful, including the parents of young people.
- A guide to understanding student loans – Simple overview guide for young people and their parents
- Frequently asked questions – Answers to the common questions about student loans
- Explanatory video – Short video guide to understanding student loans for young people and their parents
