student loan

The financial help a new full-time student can get depends on the course, where they live while they are studying, and their individual circumstances.



Customers can find details on how to apply for financial support, maintain their account and repay any loan(s), by accessing their appropriate domicile website.

Types of help for new full-time higher education students include:

* Tuition fee loans to cover the full cost of tuition fees
* Maintenance loans to cover the cost of living expenses
* Grants for living costs to cover the cost of living expenses
* Bursaries and scholarships from universities and colleges
* Students can also get extra help if they have children or adult dependants, or have a disability or specific learning difficulty.

For the majority of students, a loan will comprise of the tuition fee loan plus a maintenance loan, and this will be paid directly at the start of each academic term. Everyone on an eligible course qualifies for 75% of the maximum loan, regardless of income, and the rest is income-assessed. These loans accrue interest at the rate of inflation, which means that the amount repaid has the same value as the amount borrowed.

The repayment of loans is repaid through the tax system, and only begins after the student has left higher education and is earning over £15,000. This system of collection is known as Income-Contingent Repayment (ICR), because it tapers the repayment obligation according to the gross income of the account holder. It is distinct from the previous mortgage-style scheme in which the monthly repayments were fixed and account holders whose incomes exceeded the deferment threshold, were required to repay the entire instalment each month.

SLC becomes responsible for the administration of financial support after the award authority has completed the income assessment and eligibility elements of the application process.

Our Company provides a broad range of products & services to education funding in the UK.
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PRODUCT AND SERVICES
PRODUCT AND SERVICES
Government policy on student finance is set by the Department for Innovation Universities and Skills (for England) and the Education Departments of Scotland, Wales and Northern Ireland. It is the Student Loans Company’s role to undertake the administration and processing involved in the payment of loans and grants to students, and the payment of tuition fees to higher and further education institutions. In doing so, the Student Loans Company provides a broad range of products and services to education funding in the UK.

* Tuition Fee Support
* Maintenance Support
* Targeted Support

The Student Loans Company distributes the tuition fee payments to universities and colleges for all eligible students from England, Wales, Northern Ireland and the EU.

Repayment of student loans is a shared responsibility between SLC and Her Majesty’s Revenue & Customs (HMRC). We undertake account maintenance and communication with borrowers in repayment, and collection is undertaken by HMRC through the PAYE process. The system of collection is known as Income Contingent Repayment (ICR).

Repayments on loans issued before 1998 are not collected by HMRC; instead they are collected directly by SLC by direct debit and are known as fixed-term repayments.

Find out more on how student loans are repaid, write-off terms, loan cancellation and how the interest rate is applied to a loan.

The Student Loans Company administers a range of products encompassing the areas of tuition fee support, maintenance support, and targeted support, on behalf of the English, Northern Irish, Scottish and Welsh Parliaments and Devolved Administrations

The Student Loans Company publishes National Statistics products as Statistical First Releases (SFRs) on behalf of DIUS and the devolved administrations. The SFRs include information on Student Finance awards (loan rates, loan take up, grants awarded, etc) and Student Loans debt and repayment

* Facts & Figures

The scale of our business has grown rapidly, with the sheer size of the numbers involved telling their own tale of our success.

On 3 July 2006 the Minister of State for Higher Education delivered a written ministerial statement that the Student Finance Delivery System in England would be transformed so that by September 2008 a new, fully integrated, Student Finance Service would be ready for new students applying for entry to higher education in the 2009/10 academic year.

The full transformation programme will take six years, with all outcomes, benefits and requirement delivered in time for the 2011/12 academic year application processing cycle when all students will be assessed by a central unit.

To deliver this change requires:

* Design, development and implementation of the new service
* Transformation of the Student Loans Company (SLC), which will become the national delivery provider for payment of loans and grants and owner of end-to end customer contact and strengthening the existing partnership with HM Revenue & Customs (HMRC) for collection of loans
* The collection service will continue to be provided for all administrations in the UK jointly who will all benefit from any improvements to customer service and processes
* Carefully managed transition from the current locally distributed assessment service, which involves English local authorities, so that by academic year 2011/12 all cases are handled by the new service
* DIUS repositioning itself as strategic leaders of the system, remaining owners of the SFS and being ultimately accountable for its performance but gradually increasing the operational autonomy and accountability of delivery partners



Higher Education Student Finance is changing and your students need to know!

From 1st September 2008, responsibility for the provision of Information, Advice and Guidance (IAG) to prospective Higher Education entrants transferred from Local Authorities to the Student Loans Company. This is part of a wider programme of centralisation which will see all students following a new application process for their Higher Education funding. Where you may have received assistance from your Local Authority previously this will not now be available and your students may look to you for answers.

The Student Loans Company publishes National Statistics products as Statistical First Releases (SFRs) on behalf of DIUS and the devolved administrations. The SFRs include information on Student Finance awards (loan rates, loan take up, grants awarded, etc) and Student Loans debt and repayment.


* Student Support for Higher Education in England:
Academic Year 2008/09 (Provisional)
Published 27th November 2008
* Student Support for Higher Education in Wales:
Academic Year 2008/09 (Provisional)
Published 27th November 2008

* Student Loans for Higher Education in England:
Financial Year 2007/08 (Provisional)
Published 17th June 2008 (116kB)
* Student Loans for Higher Education in Wales:
Financial Year 2007/08 (Provisional)
Published 17th June 2008 (120 kB)
* Student Loans for Higher Education in Scotland:
Financial Year 2007/08 (Provisional)
Published 12th June 2008 (136kB)
* Student Loans for Higher Education in Northern Ireland:
Financial Year 2007/08 (Provisional)
Published 17th June 2008 (112 kB)

* Student Support for Higher Education in England:
Academic Year 2007/08 (Provisional)
Published 27th November 2007 (112kB)
* Student Support for Higher Education in Wales:
Academic Year 2007/08 (Provisional)
Published 29th November 2007 (156kB)
* Student Loans for Higher Education in Scotland:
Financial Year 2006/07 (Provisional)
Published 21st August 2007 (177kB)
* Student Loans for Higher Education in England:
Financial Year 2006/07 (Provisional)
Published 12th June 2007 (175kB)
* Student Loans for Higher Education in Wales:
Financial Year 2006/07 (Provisional)
Published 12th June 2007 (197kB)
* Student Support for Higher Education in England:
Academic Year 2006/07 (Provisional)
Published 28th November 2006 (178kB)
* Student Support for Higher Education in Wales:
Academic Year 2006/07 (Provisional)
Published 28th November 2006 (196kB)
* Higher Education Grants in England and Wales:
Academic Year 2005/06 (Provisional)
Published 13th July 2006 (85kB)
This SFR has been incorporated into the November 2006 SFR.
This is the last stand alone HE Grants SFR in the series.
* Student Loans for Higher Education in the UK:
Financial Year 2005/06 (Provisional)
Published 15th June 2006 (134kB)
* Student Support for Higher Education in England and Wales:
Academic Year 2005/06 (Provisional)
Published 29th November 2005 (171kB)
* Student Loans for Higher Education in the UK:
financial year 2004/05 (Provisional)
Published 28th July 2005 (141kB)
* Higher Education Grants in England and Wales:
Academic Year 2004/05 (Provisional)
Published 14th July 2005 (82kB)
* Support for Higher Education in the UK:
Financial Year 2003/04 and Academic Year 2004/05 (Provisional)
Published 30th November 2004 (172kB)

Our media centre is aimed at journalists and researchers who need to find key facts about the Student Loans Company, quickly.

The News & Views section has the latest coverage on our business, our people, our products and our services.

Our Image Library contains easy to download images of our offices and our senior management team.

We have useful facts and figures about the Company, and the most recent annual report available to download. And for your reference, access to information on SLC’s remit, operation and performance measures.

The latest information on loans taken up by students in higher education in the United Kingdom can be accessed from the national statistics section.

Our media centre is aimed at journalists and researchers who need to find key facts about the Student Loans Company, quickly.

The News & Views section has the latest coverage on our business, our people, our products and our services.

Our Image Library contains easy to download images of our offices and our senior management team.

We have useful facts and figures about the Company, and the most recent annual report available to download. And for your reference, access to information on SLC’s remit, operation and performance measures.

The latest information on loans taken up by students in higher education in the United Kingdom can be accessed from the national statistics section.



Policy Decisions

To find out about policy decisions on student finance, please refer directly to the Department for Innovation Universities and Skills (on higher education matters in England) or, as appropriate, the education departments of the Scottish Government , the Welsh Assembly Government or the Department for Employment and Learning in Northern Ireland.

ew our current vacancies, in this area of the website you’ll find information on what we offer as an employer and what you can expect when working for us. You can also find out what our people think about their jobs in our ’what we do’ page.
Current Vacancies

Here are just some vacancies which are currently available with the Student Loans Company:



We do not currently have any vacancies, please check at a later date.