Latest News

New interest rates on student loans

01 September 2009

Details of the new interest rates taking effect from 1 September 2009 can be found on our Interest Rates page.

These changes will affect all student loans.

Get Safe Online - beware of 'too good to be true' job offers

Internet users and job hunters are being urged to be on their guard against ‘too good to be true’ money earning opportunities during the economic downturn.

According to Get Safe Online, the UK’s national internet security initiative, fraudsters are making use of legitimate channels - including mainstream recruitment websites - to mislead web users into thinking they have a genuine job as a ‘financial manager’, ‘money transfer agent’, ‘shipping manager’ or even ‘mystery shopper’ (purporting to evaluate customer service at high street banks).

Lured by the prospect of substantial earnings for relatively little work, many victims instead end up tagged as criminals, with their bank accounts suspended and liable to repay the full amount of laundered funds.

Get Safe Online week starts on the 16th November. To find out more, visit Get Safe Online

Giving permission for another person to access your account

4 August 2009

Did you know you can give permission for someone else to access your account over the phone?

This could be useful if you’re going overseas or even if you just want someone else to be able to get information or update account details for you.

For more information about how to set this up, go to our section about third parties.

Information about your annual statement for income based loans

9 June 2009

If you have recently received an annual statement from us, you can find out about the different pieces of information shown on it in the section About Your Statement.

You may also find the Frequently Asked Questions section useful.

Important information for mortgage-style customers

With effect from Wednesday 15th April 2009, the Student Loans Company (SLC) is introducing a new system to recover outstanding arrears from customers with pre-1998 (mortgage-style) loans.

The Student Loans Company actively contacts customers to discuss repayments and pursue arrears, and as part of this work we will now be sending letters to those who are consistently failing to repay what is due, requesting that they contact the Student Loans Company, (or, if appropriate, private sector loan administrator) within 28 days to discuss the options available to them.

After this date, unless there are extenuating circumstances, customers who have not deferred and are not meeting their repayment obligations will be registered with UK Credit Reference Agencies.

This is being done not only to ensure that loans are properly collected but to protect these customers from getting into further long-term debt through excessive borrowing.

Customers who engage with the Student Loans Company and make suitable arrangements to repay or to defer repayments will not face court action for as long as they keep to their agreed repayment plan.

Customers earning below £27,050 can apply for deferment and there is support available for those that need it.

Anyone affected by this announcement should contact the Student Loans Company (or other loan administrator) as soon as possible for advice.

This announcement only applies to pre-1998 mortgage-style loans.