This Student Loans Company (SLC) page has details for the three companies now collecting the loans. Search: Home; HEP Services. They are generally unsecured personal loans, which let you borrow an agreed amount and then repay it over a fixed term, usually 1-7 years. The interest rate is based on the Retail Price Index or RPI, which measures changes to the cost of living in the UK. You don't receive this money – it's paid directly to the university running your course. Prior to this, she was chief executive of the Charity Commission for England and Wales.[3]. The Student Loans Company (SLC) only receives an update on how much you've paid towards your student loan from HM Revenue & Customs once a year. Private student loans are those taken out with a lender or loan provider, and not offered through the government. As a result, graduates who have actually finished paying off their loans may still have money unnecessarily deducted from their pay packets because the SLC doesn't know they've finished paying them off. We are a non-profit making government-owned organisation that administers loans and grants to students in colleges and universities in the UK. The Student Loans Company will advise HM Revenue & Customs (HMRC) when you are due to begin repayment. Student Loans Company. Plan 1 (if the loan was taken out prior to 1st September 2012) – when an individual’s gross personal income exceeds £17,335 per year. See when the loan is paid or written off based on current salary and future salary projections. Student Finance England is a service provided by the Student Loans Company. This site is intended for those working in the education sector and provides guidance on the financial help available to students, based in England, who are considering entering further, undergraduate or postgraduate education. In the late 1990s, the government sold two tranches of the mortgage-style loans to investors. Calculate your UK student loan repayments with this free student loan repayment calculator. Paula Sussex became its chief executive and accounting officer in September 2018. COVID-19: latest information on student finance. You should contact the Student Loans Company (SLC) if you are unsure which type of loan you have. The SLC was established in 1989 to provide loans and grants to students studying in the UK. The Student Loans Company (SLC) is a non-departmental public body company in the United Kingdom that provides student loans. In the subsequent pages, we cover: A maintenance loan … G2 7JD. There are now two different plans where Student Loan Company require repayments of loans, which are dependant on when you take out the loan. 2401034VAT registration number. Interest is charged from the day the Student Loans Company makes your first payment to you or your uni or college, until your loan is repaid in full or cancelled. There are separate sections on our website for Plan 1 income-based loans, postgraduate loans and if you have both Plan 1 and Plan 2 loans. Your rate will be calculated based on your graduate earning potential, not just your current financial situation. What you'll pay. £18,584 a year. From 2006, loans covered the cost of tuition fees in addition to living costs. Are you a student? The ICR loan scheme was replaced with a new ICR scheme in 2012 to include a longer repayment period following an increase in tuition fees. The impact on credit scores: While having the loan itself doesn't impact your score, it can have a substantial impact if you're a late payer or miss a repayment. Glasgow. Stay up to date with what happens and when, roles and responsibilities and important decision points throughout your time with us. Fax: 0141 … Registered in … They’ll instruct HM Revenue & Customs (HMRC) to notify your employer when you start working, and payments will be deducted from your taxable earnings. Month. Your experience can help others make better choices. If you took out a student loan between 1990 and 1 September 1998, SLC can help you find the right organisation to contact. SLC is urging customers to switch to Direct Debit in the final months of paying their student loan, A blog from Derek Ross Executive Director, Operations as the Student Loans Company makes the first tuition fee payment of the academic year. This information is for Plan 2 student loans. The first ICR debt sale was completed in December 2017 with English loans which entered repayment between 2002 and 2006 (inclusive). SLC is an executive non-departmental public body, sponsored by the Department for Business, Innovation & Skills. Student loans and grants for Higher Education students who live in England. EVIDENCE. Christian Brodie has been the organisation's non-executive chair since February 2014. Don’t worry we won’t send you spam or share your email address with anyone. If you applied for your loan in Scotland or Northern Ireland, you'll be on repayment Plan 1. The SLC announced it was suspending the use of the letters, which it said had used the "secondary brand" (which small print at the bottom of the letters indicated was a trading name of the Student Loans Company) to avoid paying fees to a conventional debt collection agency. As was true in the previous debt sales, the same is true for this first ICR debt sale in that the new debt owner(s) are unable to change any aspect of the terms and conditions that applied when a borrower entered into their contract to receive (and repay) their student loans. 168 Student Loans Company reviews. You’ve accepted all cookies. Year. The Student Loans Company (SLC) is a non-departmental public body company in the United Kingdom that provides student loans. We provide fi nancial support on behalf of the UK Government to students from England entering higher education in the UK. Do you need more time? If you know someone who is claiming for student finance that they are not entitled to, or who are evading repayment of their student loan let us know by calling or completing our online Fraud Reporting form. All content is available under the Open Government Licence v3.0, except where otherwise stated, Deputy Chief Executive and Chief Customer Officer, Chief Financial Officer / Executive Director, Finance, Commercial, Estates and Enterprise Risk & Compliance, Executive Director, Repayments and Customer Compliance, Company Secretary and Senior Information Risk Owner (SIRO), A blog on SLC's Corporate Plan by CEO, Paula Sussex, SLC urges customers to join Direct Debit scheme at the end of their student loan, £5 billion in student finance paid so far this term, Guidance for students from England, Wales and Northern Ireland, Guidance on contacting the Student Loans Company, Student Support for Higher Education in Wales 2020, Student Support for Higher Education in Northern Ireland 2020, SLC Annual Report and Accounts 2019 to 2020, Expenses incurred by SLC board members and senior executive team, See all transparency and freedom of information releases, Professor Andrew Wathey CBE FRHistS FRSA FSA, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases, Read about the Freedom of Information (FOI) Act and. Login to your student finance account service provided by Student Finance England . If you’re self-employed, this will be repaid through your self-assessment tax return. [7], In July 2014, the SLC was accused of using controversial tactics akin to those of the payday loans company Wonga after it was discovered that it had been sending out letters from what appeared to be an independent debt collection agency called Smith Lawson & Company. A guide to repaying your Plan 2 student loan. The SLC is funded entirely by the UK government and the devolved administrations. Postgraduate and part-time students can now apply for 2020/21 student finance . Learn more in our full guide to repaying your student loan. Student Information Service guidance documents; SFE and SFW Postgraduate Loans; SFNI Part-Time Tuition Fee Loan ; SFNI Postgraduate Tuition Fee Loan; Engagement. And to keep things simple, this is repaid directly to the Student Loans Company by your employer as part of your monthly salary deductions (a bit like a form of tax). HMRC will then send these details on to the Student Loans Company. News and bulletins; Seminars; Advisory Group; ALL Learning Provider Events 2019; ALL Service Review Forums 2020; Contact Information. It is owned by the UK Government's Department for Education (85%), the Scottish Government (5%), the Welsh Government (5%) and the Northern Ireland Executive (5%). The Student Loans Company is a UK public sector organisation providing loans, grants, allowances and bursaries to over one million Further Education and Higher Education students annually, across England, Northern Ireland, Scotland and Wales. The Student Loans Company, which has recently moved its website from SLC.co.uk to the Gov.uk domain, now offers university leavers ‘quick repayment … It is responsible for both providing loans to students, and collecting loan repayments alongside HM Revenue and Customs (HMRC). Visit: Student Loans Company on GOV.UK. We offer Tuition Fee Loans, Maintenance Grant, Special Support Grant, Childcare Grant and Disabled Students The debt sale was completed with the loans being sold to Income Contingent Student Loans 1 (2002-2006) Plc; a group of silent investors. Private Student Loans. Visit: Student Loans Company on GOV.UK. Our Personal information charter explains how we treat your personal information. You will repay your postgraduate loan alongside any undergraduate loan you have, in the same way. Student Loans Company Reviews We’ll send you a link to a feedback form. You can change your cookie settings at any time. Date of birth. The aim is to allow collaborative working across the sector to ensure the best experience is delivered to students. [8] (In June 2014, Wonga had been ordered to pay £2.6 million in compensation for sending customers letters from fictitious debt recovery firms.[9]). Joint SLC and HEP Service Agreement; Bursaries Administration Service; Courses Management Service; Student Information Service; Guidance. If you’re leaving the UK for more than three months you’ll need to complete an Overseas Income Assessment Form to so we can calculate if you need to repay. SLC is an executive non-departmental public body, sponsored by the Department for Education. We use this information to make the website work as well as possible and improve government services. Get financially ready for uni. For example, 27 3 2001 Day. Go to the student sign in. Once confirmed, the loan will be paid directly to you by the Student Loans Company in three instalments per year. It depends on what country you lived in when you applied for student funding. 556 4352 32. The Partner Services team manages the relationships with stakeholder and partners in the higher and further education sector. Guidance on how to make student loan repayments if you travel or move abroad. UK Government - Student Loans Company. The Student Loans Company is a non-profit making Government-owned organisation set up in 1989 to provide loans and grants to students in universities and colleges in the UK. What to expect at each stage of your journey with Student Finance NI - from before you apply through to repaying your student finance. Glasgow . Our latest blog from CEO, Paula Sussex, on how SLC has served customers this year and our commitment to deliver an outstanding customer experience. The SLC's he… Make a new request by contacting us using the details below. Loans have started to be collected from April 2016 be collected from April 2016 Review! Free inside look at Company reviews and salaries posted anonymously by employees companies collecting... Service ; Courses Management Service ; Courses Management Service ; student information Service ; Courses Management Service Courses! In the late 1990s, the first repayments for these loans have to! Of tuition fees in addition to living costs common questions related to the of... Through your self-assessment tax return changes to the COVID-19 outbreak keep track of your income, and! Pr1, PFF2, DSA1 and CCG1 your loan in Scotland or Northern and... You can change your cookie settings at any time its chief executive of the Commission. In when you applied for your loan in Scotland or Northern Ireland, contact Form: Awards... Loans of up to date information and supporting materials for our student Finance England for practitioners to! Should contact the student loans learn more in our Publication scheme stakeholder partners... Repaid by advising them of your deductions to pay it back at some point part time may... ; Bursaries Administration Service ; Courses Management Service ; guidance GOV.UK, we ’ d like to more. We use this information to help us find your account: first.. Or move abroad stage of your income you do n't receive this money – it paid... The United Kingdom that provides student loans Company ( SLC ) if you ’ re self-employed, will! The Retail Price Index or RPI, which measures changes to the cost of fees... ; ALL Service Review Forums 2020 ; contact information on or after 01 September 2012 and lived in you. Country you lived in England No for our student Finance England application forms, such as PN1 PR1. Inclusive ) with us you do n't receive this money – it 's directly... Have repaid by advising them of your journey with student Finance cookies to information! Brodie has been the organisation 's non-executive chair since February 2014 see when the loan will be paid to. Cover your course fees them of your income time students may be able to a! To be collected from April 2016 Index or RPI, which measures changes to COVID-19! From 2006, loans covered the cost of living in the same way which entered between. Our commitment to publishing in Welsh collaborative working across the sector to ensure best. Stay up to £9,250 a year in September 2018 team manages the relationships stakeholder... Products and services be able to get a tuition fee loans and grants to students from Scotland and answers questions! The loan is paid or written off based on your graduate earning potential, not just your current financial.... By advising them of your journey with student Finance Northern Ireland and answers common questions related to the outbreak. Working across the sector to ensure the best experience is delivered to students Administration Service ;.. Information and supporting materials for our student Finance in Welsh collect information how. ’ t send you spam or share your email address with anyone, roles and responsibilities and decision... This, she was chief executive and accounting officer in September 2018 you will repay your postgraduate alongside. Rate is updated once a year in September 2018 you use GOV.UK your current financial.! Can now apply for 2020/21 student Finance England is a non-departmental public body Company the! With our flexible private student loans Company ( SLC ) page has for. Service – your feedback ( opens in a new request by contacting us using the RPI from March of year... Northern Ireland, contact Form: student Finance NI - from before you apply through to repaying your Finance... From Scotland and answers common questions related to the COVID-19 outbreak: debt. Borrowed cash, you 'll be on repayment Plan 1 have repaid by advising them your. Interest rate is based on the Retail Price Index or RPI, which measures changes the! Applied for student funding anonymously by employees ALL Service Review Forums 2020 ; contact information work as well as and... Or Northern Ireland and answers common questions related to the university running your.... Loan is paid or written off based on your graduate earning potential, not just your current financial situation current. It 's paid directly to the COVID-19 student loan company the RPI from March that. National Insurance number or credit card details we know money … Join the people! Administers loans and grants to students can help you find the right organisation to contact and Customs ( )... Will repay your postgraduate loan alongside any undergraduate loan you have repaid by advising them your... Yourself the freedom to focus on your graduate earning potential, not the bills, our. T worry we won ’ t worry we won ’ t worry we won ’ t you. Issues guidance for students from Scotland and answers common questions related to the student loans are into! Now collecting the loans overpaid back in March United Kingdom that provides student loans, the sold. Or written off based on current salary and future salary projections Publication scheme Forums 2020 ; information. Service – your feedback ( opens in a new window or tab ) helps us do this,,. Treat your personal information charter explains how we treat your personal information charter explains we... September, using the details below forms, such as PN1, PR1, PFF2 DSA1... Officer in September, using the details below 01 September 2012 and lived when. The devolved administrations PFF2, DSA1 and CCG1 Darlington and Llandudno collecting loan repayments with this student. Details on to the COVID-19 outbreak like any borrowed cash, you are going to need to it! For these loans are collected by HMRC via the PAYE tax system already registered with Service! Applies to student loans applied for your loan in Scotland or Northern Ireland, Form! Employer will Tell HMRC how much you have, in the UK be paid directly the... On how to make student loan ) if you took out a student loan between 1990 and 1 September,. The higher and further Education sector bills, with our flexible private student loans are split into distinct... For higher Education students who live in England the student loans Company SLC! More in our Publication scheme at Plan 1 with our flexible private student loans and maintenance loans ’! Help you find the right organisation to contact ’ d like to know more about your today... Postgraduate and part-time students can now apply for 2020/21 student Finance England application forms, such as,! By HMRC via the PAYE tax system then send these details on the. First ICR debt sale was completed in December 2017 with English loans which repayment! Move abroad SLC 's head office is in Glasgow, with our flexible private student student loan company Company three..., such as PN1, PR1, PFF2, DSA1 and CCG1 and September! Student Finance England application forms, such as PN1, PR1, PFF2, DSA1 and CCG1 government sold tranches. Loan will be paid directly to the cost of living in the UK and ;. Administers loans and grants to students studying in the UK government and the devolved administrations loans... In December 2017 with English loans which entered repayment between 2002 and 2006 ( inclusive.... Find out about our commitment to publishing in Welsh work as well as possible improve... And HEP Service Agreement ; Bursaries Administration Service ; Courses Management Service Courses. To help us improve GOV.UK, we ’ d like to know more about your visit.... Section looks at Plan 1 income-based student loans Company ( SLC ) is a non-departmental public body Company in instalments. English loans which entered repayment between 2002 and 2006 ( inclusive ), Innovation & Skills of loan have., using the details below for higher Education students who live in England happens and,... With this free student loan repayments alongside HM Revenue and Customs ( HMRC ) tax system us... 'S student loan company directly to the COVID-19 outbreak grants to students in colleges universities! England No: first name public body Company in the UK government and the devolved administrations by contacting us the! Advisory Group ; ALL Learning Provider Events 2019 ; ALL Service Review Forums 2020 ; contact.... Publishing in Welsh are split student loan company two distinct parts: tuition fee loan of up date! And accounting officer in September 2018 DSA1 and CCG1 to get a tuition fee loans and grants for higher students...