Student Finance Payment Dates 2023: What Date Is The Maintenance Loan Paid? | TOTUM
Holly BarrowFebruary 9th

For university students in the UK, nothing beats student loan day. 

If you applied for student finance, you can typically expect to receive one lump sum of money known as a maintenance loan at the beginning of each term, while your university will receive your tuition fee loan which goes directly towards covering course fees. 

All students receiving a maintenance loan can relate to the sheer excitement of that long awaited student loan drop. The much-needed boost can significantly help with your living costs (and the odd treat, of course). 

If you’re wondering what the student finance payment dates for 2023 are, we’ve got you covered. You may want to note these dates down so that you can keep track of when you should receive your maintenance loan payments this year and budget accordingly.


What is a maintenance loan?

The maintenance loan was first introduced back in the 1990s and has become a crucial way for students to financially support themselves during their time at university. 

Some students were also eligible for maintenance grants at one time, but sadly these were scrapped in 2016 (sorry to rub it in…). 

Students receive three instalments of the maintenance loan throughout the academic year, typically within a few weeks of the start of each term. It’s designed to help with day to day living costs such as food, toiletries and home essentials, as well as rent and utilities. 

So, as tempting as it might be to splash the cash on a whole new wardrobe and daily meals out, you’re going to want to spend it wisely! 

Food Shopping

As the name suggests, the key thing to remember about the maintenance loan is that it’s just that - a loan - meaning you’ll have to pay it back eventually. 

But remember, it’s repayable only once you’re earning a certain income - currently £27,295 a year, £2,274 a month or £524 a week in the UK.

What’s more, you’ll only pay back 9% of the amount you earn over the salary threshold, which we’ll explain a little later on. 

How is student loan calculated?

The maintenance loan payments you receive as part of your student loan will vary depending on your personal circumstances, or more specifically the circumstances of your household. 

Key factors taken into account to determine how much a student may receive in maintenance loan payments include:

  • Household income 

  • Course start date 

  • Where you live while studying

As per the Gov UK website, the below table outlines how much student loan you may receive depending on your age, whether you live with your parents or are set to live independently whilst studying, whether you rely on them financially and more. 


In terms of your tuition fee loans, full-time students in England can get up to £9,250, or up to £11,100 if you’re studying an accelerated degree course. This money will be paid directly to your university, so you won’t personally receive this. 

Student finance for part-time students

If you’re a part-time student, it’s worth noting that the process is a little different. 

You may be eligible for a maintenance loan if your part-time course has what is known as a ‘course intensity’ of 25% or more. This can be determined by comparing your own module credits with the number of module credits a full-time student will study.

When it comes to your tuition fee loan, you can expect to get up to £6,935 in an academic year - but again, this will go directly to your university. 


When do I get my student loan 2023?

Your maintenance loan payments will arrive in three instalments - with your annual allowance split roughly into three - and you’ll receive one at the beginning of each term. 

This will largely be around the same time for each university, however the exact payment dates may vary slightly. 

For this academic year (2022/2023), you should have received your first maintenance loan instalment at the end of September/beginning of October to coincide with the start of the new term. 

You then should have received your second maintenance loan payment at the start of January 2023, while your final instalment will arrive at the start of April. 


If you’re wondering why your maintenance loan doesn’t come in one big lump sum - it’s for your own good! Student finance splits the annual amount into three to prevent students from spending it all within the first term - it may seem a little OTT, but it’s definitely a wise decision.

This isn’t to say you shouldn’t treat yourself, though - but while you’re at it, make your money go further by bagging yourself the best student discounts when you sign up with TOTUM. You won’t regret it!

What is the average maintenance loan?

In the 2020/21 academic year, the UK government revealed that the average maintenance loan paid to students was £6,860 in England, £5,110 in Wales, £3,120 in Northern Ireland and £5,190 in Scotland. 

This may give you a rough idea, but remember your own student finance will be calculated based on your personal circumstances.


What is the maximum maintenance loan?

According to the Gov UK website, the maximum maintenance loan for the 2022/2023 academic year is £9,706 for students living away from their parents outside of London and £12,667 for those living away from their parents in London. 

For the 2023/24 academic year, this is expected to rise to £9,978 and £13,022 respectively. 

How to see my student finance payment schedule 

To find your payment schedule and the status of your student finance payments, you should follow these steps: 

  • Sign in to your account at

  • Click ‘Undergraduate student finance applications’

  • Select the relevant application

  • Below the heading ‘Manage your student finance’, click ‘View your payments’


Here, you’ll be given updates on your payments. If the status says ‘Scheduled’, ‘Ready to be paid’, ‘Payment in progress’, or ‘Paid’, you can expect to receive your maintenance loan soon. 

If the status says ‘Blocked’, ‘Cancelled’, ‘Failed’, ‘Suspended’ or ‘Withdrawn’, you will need to take further action by contacting Student Finance. 

To begin receiving your student finance payments, you must ensure you’ve registered/enrolled on your course. 

When do I start repaying my student loan and how much is student loan repayment?

You’ll start repaying your student loan - both your tuition fee loan and your maintenance loan - when you earn over a certain salary threshold depending on which student loan plan you are on.

If you’re on Plan 1 (you started an undergraduate course in the UK before 1st September 2012), you can expect to begin repaying your student loan once your income is over £388 a week, £1,682 a month or £20,195 a year (before tax and other deductions).

This salary threshold is set to rise in April 2023 to £22,015.


If you’re on Plan 2 (you started an undergraduate course in the UK after 1st September 2012), you’ll only repay when your income is over £524 a week, £2,274 a month or £27,295 a year (before tax and other deductions).

Basically, this means that you won’t be required to make any student loan repayments until you’re earning this amount. 

It’s important to note that the salary thresholds do change.

When it comes to how much your student loan repayment will be, those on Plan 1 and Plan 2 loans will pay back 9% of the amount you earn over the salary threshold.

So, if you’re on Plan 2 and you earn £30,000 per year, you will repay around £20 per month towards your student loan. This should automatically be deducted from your pay. 

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