26 October 2014
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Student loan company

This page is a guide to the student loan company, it will give you a brief overview of what they do as well as their contact details.

The SLC (as it is also known) is a UK based public sector organisation set up to provide financial support, help and services to students in higher education. It is in essence a funding option that is available to both full time and part time students. Interest rates are low and it is primarily a vehicle to pay a students university tuition fees. Loans need only be paid back after a student has graduated, found employment and when they are able to.

Basic information about the student loan company (SLC)

  • The student loans was originally set up in 1990.
  • They issue and administer government funded loan packages to college and university students throughout the UK.
  • It is the prime source for loans for undergraduate studies in England, Scotland, Wales and Northern Ireland.
  • The company also  organises, manages and processes the collection of loan repayments.
  • Any loans issued accrue interest at the rate of inflation.
  • The SLC can arrange for loans, grants and bursaries.
  • The SLC is a non departmental government body.
  • They are not available to postgraduate students.
  • It is estimated that they provide loans to roughly 1 million students in the UK every year.

The benefits to students and undergraduates

  • It gives them more financial flexibility.
  • Allows students to concentrate on their courses rather than worrying about tuition fees etc.

Student eligibility
The two requirements that applicants must meet are personal eligibility and institutional eligibility.

Loan repayment
These are made under the Income-Contingent Repayment (ICR) scheme. Under this programme repayments are only made when a graduates starts to earn over £15,000 per year. Repayments are taken directly out of a students wages.

Loans can be issued by the company for any of the following reasons

  • Tuition fee loans.
  • Maintenance loans.
  • Maintenance grant.
  • Grants for living costs.
  • Bursaries and scholarships.
  • Subsidies to students from poor backgrounds.

Contacting the student loan company
They have offices around the country, with their head office being in Glasgow.

Student Loans Company Limited
100 Bothwell Street
Glasgow
G2 7JD
Tel: 0141 306 2000
Fax: 0141 306 2005
http://www.slc.co.uk


The registered office is at:
21 St. Thomas Street,
Bristol,
BS1 6JS.
Registered in England No. 2401034.
VAT registration number. 556 4352 32



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