Early repayments

You can always start paying off student debt earlier than scheduled. This can have the following benefits:

• reduced interest
• lower monthly instalments during the repayment phase
• earlier clearance of the entire debt.

Preliminary phase

The preliminary phase is an initial 2 year period in which you do not have to make any repayments. DUO is not allowed to debit any payments from your account during this period.

A lifelong learning credit does not have a preliminary phase. The repayment phase starts in January, following the end of the lifelong learning credit. 

Payments during preliminary phase

You can opt to make voluntary repayments during the preliminary phase. These are the options:

• If you want to make monthly payments, you can set up a standing order with your bank. You need to cancel this once the mandatory repayment phase begins, otherwise you will pay twice.
• If you want to make a single paymen, go to Additional repayments for details.