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Sale of Student Loans


On 04/12/18 the UK Government completed the sale of part of the student loan book, for a batch of English loans that began repayment between 2007 and 2009. This includes loans issued by any English local authority which entered repayment between 2007 and 2009.

What this means for you?

The sale means an independent Investment Company called Income Contingent Student Loans 2(2007-2009) Plc will own your loan(s) on behalf of a number of investors.

The UK Government has confirmed that:

  • The individual and overall repayments you make will not change as a result of the sale.
  • The way you repay your loan(s) will not change as a result of the sale.
  • The way the interest rate is calculated will not change as a result of the sale.
  • The terms and conditions of your loan(s) will not change as a result of the sale.

Customers do not need to take any action.

Student Loans Company will write to advise all customers whose loans are included in the sale by the end of February 2019. The majority of customers with a student loan will not have been included in this sale.

Not currently making repayments

I am not currently making any repayments - how does this sale affect me?

SLC will continue to administer your loan(s). You will become eligible to start repaying your loan(s) from the April following the date you graduate, or leave your course. Your repayments are linked to your income, so you only make repayments when your income is over the threshold. The current threshold is £18,330 a year. This works out as £352 a week or £1,527 a month. See how and when you repay for more information.


Changes to Interest Rates and Thresholds 15/08/2017

The Department for Education (DfE) have confirmed the annual updates to the Interest Rates and Thresholds of Income Contingent Student Loans and Mortgage Style Student Loans, as set out in the relevant regulations and terms & conditions of the loans.

Income Contingent Loans

Undergraduate loans

Income Contingent Student Loans for pre-2012 (Plan 1) loans)

From 1 September 2017 until 31 August 2018, the maximum interest rate set for the existing Income Contingent Repayment Loans will be 3.1%. However, the low interest cap will be triggered, and therefore the rate to be charged from 1 September 2017 will be 1.25%.

Please monitor this website regularly as the rates may change during the academic year.

From 6 April 2018, the repayment threshold will rise to £18,330.

Income Contingent Student Loans for post-2012 (Plan 2) loans

From 1 September 2017 until 31 August 2018, one or more interest rates may apply to you:

Your circumstances Interest rate
Whilst studying and until the April after leaving the course If you come into repayment from April 2018 RPI + 3% (6.1%) Variable interest, dependent upon income
If you come into repayment from April 2018 Variable interest, dependent upon income
RPI (3.1%), where income is £21,000 or less, rising on a sliding scale up to RPI + 3% (6.1%), where income is £41,000 or more
If you lose touch with SLC or do not send them the information they require RPI + 3% (6.1%), irrespective of income, until SLC have the information they require

Changes to repayment thresholds in April need Parliamentary approval. For now, the threshold remains £21,000.

If you do not know your repayment plan type, you can find out by using our tool.

Postgraduate Loans

From 1 September 2017 until 31 August 2018, the interest rate for borrowers in England taking out a Postgraduate Loan for a Master’s degree will be 6.1% (RPI + 3%).

The repayment threshold for Postgraduate loans continues to be £21,000.

Mortgage Style Student Loans

From 1 September 2017 until 31 August 2018, the interest rate for mortgage style loans will be 3.1%.

The deferment threshold for mortgage style loans will be £29,219.

Any queries from borrowers who have mortgage style loans should be addressed to their loan administrator.


Request for contact and employment details

We are contacting our customers by email and text message to request their current contact and employment details. We are doing this to make sure our customers receive relevant and up-to-date information from us at the right time.

If you have received an email or text message from us regarding this we require:

  • your current home address;
  • your current home telephone number;
  • your current mobile number;
  • your current email address; and
  • confirmation of whether or not you are employed.

This information will allow us to inform you of any changes we make which may affect your student loan account.

If you have received this email or text message, you can update your information by calling us on 0300 100 0611. If you are overseas please call 0044 141 626 3770. Our office opening hours are 9am to 5:30pm.

You can also email your information to:

Please note this email address is for the purpose of providing the requested contact information only. Any questions raised will not be responded to via this mail box. If you have any queries regarding your account or you have documents to return then please call us on the telephone number detailed above.


Completing your repayment term - advice to customers on repayment options

If you are within two years of repaying your loan in full you can now choose to make your remaining monthly repayments by Direct Debit rather than through PAYE.

Student loan repayments are usually collected through the tax system with the Student Loans Company only able to monitor your balance on an annual basis, rather than monthly. This means that it is possible you could repay more than is outstanding on your loan.

If you choose to set up a monthly Direct Debit to pay your remaining balance then we can calculate exactly when you are due to repay, making sure you only pay exactly what you owe.

For more information about repaying by Direct Debit, see completing your repayment term.


Cookies on the Student Loan Repayment site

This website uses cookies to help make it more useful for you and to help us understand how our customers use the site. For more information about what cookies this website uses and what they are for, visit our security information page.


Your Security is Important to us

At Student Loans Company, we take your security very seriously and are committed to protecting you whenever you use our services. To help us do this you should always have your Customer Reference Number and Secret Answer available before speaking to one of our advisors. If you don't have your Customer Reference Number and Secret Answer you will be asked some additional security questions before we can access your account and help with your enquiry.

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