Truth: You are expected to repay any money that you have borrowed i.e. for tuition fees and/or maintenance loans. However, you only repay when you’re earning over £21,000 a year, and then it’s fixed at 9% of everything you earn above that. For example, if you earn £31,000, that is £10,000 above the threshold, so 9% of that threshold is £900. So you will pay back £900 a year to Student Finance.